Pictet Asset Management Ltd. Sells 70 Shares of ABIOMED, Inc. (NASDAQ:ABMD)

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Pictet Asset Management Ltd. trimmed its holdings in shares of ABIOMED, Inc. (NASDAQ:ABMD) by 0.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,870 shares of the medical equipment provider’s stock after selling 70 shares during the quarter. Pictet Asset Management Ltd.’s holdings in ABIOMED were worth $5,436,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Renaissance Technologies LLC lifted its holdings in ABIOMED by 18.0% during the second quarter. Renaissance Technologies LLC now owns 2,431,723 shares of the medical equipment provider’s stock valued at $633,440,000 after purchasing an additional 370,800 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in ABIOMED by 105.2% during the second quarter. Baillie Gifford & Co. now owns 2,219,136 shares of the medical equipment provider’s stock valued at $578,063,000 after purchasing an additional 1,137,705 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in ABIOMED by 338.3% during the second quarter. William Blair Investment Management LLC now owns 815,524 shares of the medical equipment provider’s stock valued at $212,436,000 after purchasing an additional 629,455 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in ABIOMED by 21.8% during the second quarter. Bank of New York Mellon Corp now owns 669,715 shares of the medical equipment provider’s stock valued at $174,455,000 after purchasing an additional 119,783 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. lifted its holdings in ABIOMED by 314.3% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 648,206 shares of the medical equipment provider’s stock valued at $185,120,000 after purchasing an additional 491,750 shares in the last quarter. Institutional investors own 91.10% of the company’s stock.

ABMD has been the topic of several analyst reports. Guggenheim downgraded shares of ABIOMED from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. ValuEngine raised shares of ABIOMED from a “sell” rating to a “hold” rating in a report on Wednesday, September 4th. TheStreet downgraded shares of ABIOMED from a “b-” rating to a “c+” rating in a report on Thursday, August 22nd. Morgan Stanley downgraded shares of ABIOMED from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $325.00 to $215.00 in a report on Thursday, August 1st. Finally, William Blair reissued a “buy” rating on shares of ABIOMED in a report on Friday, August 2nd. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $316.50.

Shares of ABMD stock traded up $0.09 during mid-day trading on Tuesday, hitting $190.63. The company had a trading volume of 3,672 shares, compared to its average volume of 432,168. ABIOMED, Inc. has a 52-week low of $180.00 and a 52-week high of $459.75. The stock’s 50 day moving average price is $198.81 and its 200-day moving average price is $257.53. The company has a market capitalization of $8.56 billion, a P/E ratio of 52.88, a P/E/G ratio of 1.66 and a beta of 0.46.

ABIOMED (NASDAQ:ABMD) last released its earnings results on Thursday, August 1st. The medical equipment provider reported $1.00 EPS for the quarter, topping the consensus estimate of $0.99 by $0.01. The firm had revenue of $207.70 million for the quarter, compared to the consensus estimate of $210.96 million. ABIOMED had a net margin of 32.35% and a return on equity of 19.84%. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.95 earnings per share. As a group, equities analysts expect that ABIOMED, Inc. will post 4.28 earnings per share for the current year.

In related news, COO David M. Weber sold 8,095 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.26, for a total transaction of $1,669,674.70. Following the sale, the chief operating officer now owns 132,913 shares of the company’s stock, valued at $27,414,635.38. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.40% of the stock is owned by corporate insiders.

About ABIOMED

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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