Royal Bank of Canada trimmed its position in ABIOMED, Inc. (NASDAQ:ABMD) by 76.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 122,348 shares of the medical equipment provider’s stock after selling 401,498 shares during the quarter. Royal Bank of Canada owned approximately 0.28% of ABIOMED worth $17,532,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Huntington National Bank bought a new stake in shares of ABIOMED in the 2nd quarter valued at approximately $100,000. Seven Eight Capital LP bought a new position in ABIOMED during the 2nd quarter worth $100,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in ABIOMED by 15.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,511 shares of the medical equipment provider’s stock worth $217,000 after buying an additional 197 shares during the last quarter. Private Bank & Trust Co. bought a new position in ABIOMED during the 2nd quarter worth $226,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in ABIOMED during the 1st quarter worth $244,000. Institutional investors and hedge funds own 89.69% of the company’s stock.

ABMD has been the subject of a number of recent research reports. BidaskClub downgraded ABIOMED from a “buy” rating to a “hold” rating in a research note on Saturday, August 26th. Piper Jaffray Companies restated a “buy” rating and set a $160.00 price objective on shares of ABIOMED in a research note on Tuesday, August 29th. Morgan Stanley restated an “equal weight” rating and set a $140.00 price objective (up from $135.00) on shares of ABIOMED in a research note on Monday, July 10th. Zacks Investment Research downgraded ABIOMED from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Finally, SunTrust Banks, Inc. started coverage on ABIOMED in a research note on Friday, September 29th. They set a “buy” rating and a $195.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. ABIOMED presently has an average rating of “Buy” and a consensus target price of $173.25.

In other news, COO David M. Weber sold 16,500 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $147.63, for a total value of $2,435,895.00. Following the transaction, the chief operating officer now directly owns 125,122 shares in the company, valued at approximately $18,471,760.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Andrew J. Greenfield sold 11,282 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $169.32, for a total value of $1,910,268.24. The disclosure for this sale can be found here. Insiders sold a total of 61,782 shares of company stock valued at $9,513,610 over the last three months. Insiders own 7.00% of the company’s stock.

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Shares of ABIOMED, Inc. (NASDAQ:ABMD) opened at 173.00 on Friday. The firm has a market cap of $7.63 billion, a price-to-earnings ratio of 101.17 and a beta of 0.27. ABIOMED, Inc. has a one year low of $95.14 and a one year high of $175.71. The stock has a 50 day moving average price of $160.18 and a 200 day moving average price of $144.07.

ABIOMED (NASDAQ:ABMD) last released its earnings results on Thursday, July 27th. The medical equipment provider reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.03. The company had revenue of $132.47 million during the quarter, compared to analysts’ expectations of $130.83 million. ABIOMED had a return on equity of 13.03% and a net margin of 16.13%. The business’s revenue for the quarter was up 28.6% on a year-over-year basis. During the same period last year, the firm earned $0.29 EPS. On average, equities research analysts forecast that ABIOMED, Inc. will post $2.24 EPS for the current year.

ABIOMED Company Profile

ABIOMED, Inc is a provider of temporary percutaneous mechanical circulatory support devices. The Company offers care to heart failure patients. The Company operates in the segment of the research, development and sale of medical devices to assist or replace the pumping function of the failing heart. The Company develops, manufactures and markets products that are designed to enable the heart to rest, heal and recover by improving blood flow to the coronary arteries and end-organs and/or temporarily performing the pumping function of the heart.

Institutional Ownership by Quarter for ABIOMED (NASDAQ:ABMD)

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