Sumitomo Mitsui Asset Management Company LTD trimmed its holdings in ABIOMED, Inc. (NASDAQ:ABMD) by 19.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,297 shares of the medical equipment provider’s stock after selling 3,792 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in ABIOMED were worth $6,879,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Bank of Montreal Can increased its position in ABIOMED by 74.5% in the 3rd quarter. Bank of Montreal Can now owns 49,183 shares of the medical equipment provider’s stock valued at $22,121,000 after buying an additional 20,997 shares in the last quarter. World Asset Management Inc increased its position in ABIOMED by 5.2% in the 3rd quarter. World Asset Management Inc now owns 2,976 shares of the medical equipment provider’s stock valued at $1,338,000 after buying an additional 146 shares in the last quarter. Beech Hill Advisors Inc. increased its position in ABIOMED by 100.0% in the 3rd quarter. Beech Hill Advisors Inc. now owns 1,000 shares of the medical equipment provider’s stock valued at $450,000 after buying an additional 500 shares in the last quarter. NEXT Financial Group Inc bought a new stake in ABIOMED in the 3rd quarter valued at about $115,000. Finally, EFG Asset Management Americas Corp. increased its position in ABIOMED by 81.8% in the 3rd quarter. EFG Asset Management Americas Corp. now owns 7,558 shares of the medical equipment provider’s stock valued at $3,399,000 after buying an additional 3,400 shares in the last quarter. 86.21% of the stock is currently owned by institutional investors.

Shares of ABMD opened at $389.79 on Thursday. The company has a market cap of $20.18 billion, a price-to-earnings ratio of 159.10, a P/E/G ratio of 4.81 and a beta of 0.03. ABIOMED, Inc. has a 52 week low of $164.80 and a 52 week high of $459.75.

ABIOMED (NASDAQ:ABMD) last issued its quarterly earnings data on Thursday, July 26th. The medical equipment provider reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $1.15. The firm had revenue of $180.01 million during the quarter, compared to analyst estimates of $173.87 million. ABIOMED had a return on equity of 18.91% and a net margin of 25.71%. The company’s revenue for the quarter was up 35.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.82 EPS. On average, sell-side analysts predict that ABIOMED, Inc. will post 3.46 earnings per share for the current fiscal year.

A number of brokerages recently commented on ABMD. BidaskClub lowered ABIOMED from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 26th. Zacks Investment Research lowered ABIOMED from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 3rd. Piper Jaffray Companies boosted their target price on ABIOMED from $360.00 to $480.00 and gave the company an “overweight” rating in a research report on Friday, June 22nd. Morgan Stanley boosted their target price on ABIOMED from $370.00 to $396.00 and gave the company an “equal weight” rating in a research report on Thursday, October 11th. Finally, ValuEngine lowered ABIOMED from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 18th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $384.38.

In other ABIOMED news, VP Michael G. Howley sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 25th. The stock was sold at an average price of $432.50, for a total transaction of $4,325,000.00. Following the completion of the sale, the vice president now directly owns 48,954 shares of the company’s stock, valued at approximately $21,172,605. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Andrew J. Greenfield sold 4,440 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $395.00, for a total value of $1,753,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 33,722 shares of company stock valued at $12,958,039 over the last three months. Corporate insiders own 3.50% of the company’s stock.

ABIOMED Profile

ABIOMED, Inc engages in the research, development, and sale of medical devices to assist or replace the pumping function of the failing heart. It also provides continuum of care to heart failure patients. The company offers Impella 2.5 catheter, a percutaneous micro heart pump with integrated motor and sensors for use in interventional cardiology; and Impella CP, a device used by interventional cardiologists to support patients in the cath lab and cardiac surgeons in the heart surgery suite.

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Institutional Ownership by Quarter for ABIOMED (NASDAQ:ABMD)

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