CIBC World Markets Inc. Has $1.66 Million Holdings in ABIOMED, Inc. (ABMD)

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CIBC World Markets Inc. lessened its stake in shares of ABIOMED, Inc. (NASDAQ:ABMD) by 37.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,695 shares of the medical equipment provider’s stock after selling 3,396 shares during the quarter. CIBC World Markets Inc.’s holdings in ABIOMED were worth $1,657,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. BB&T Securities LLC lifted its stake in shares of ABIOMED by 11.8% during the 1st quarter. BB&T Securities LLC now owns 1,310 shares of the medical equipment provider’s stock worth $381,000 after purchasing an additional 138 shares during the period. Commonwealth Equity Services LLC lifted its stake in shares of ABIOMED by 4.9% during the 1st quarter. Commonwealth Equity Services LLC now owns 3,093 shares of the medical equipment provider’s stock worth $900,000 after purchasing an additional 145 shares during the period. M&T Bank Corp lifted its stake in shares of ABIOMED by 14.4% during the 1st quarter. M&T Bank Corp now owns 1,355 shares of the medical equipment provider’s stock worth $394,000 after purchasing an additional 171 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in shares of ABIOMED by 2.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,993 shares of the medical equipment provider’s stock worth $2,617,000 after purchasing an additional 206 shares during the period. Finally, Comerica Bank lifted its stake in shares of ABIOMED by 0.7% during the 1st quarter. Comerica Bank now owns 33,367 shares of the medical equipment provider’s stock worth $10,225,000 after purchasing an additional 223 shares during the period. Hedge funds and other institutional investors own 87.01% of the company’s stock.

Shares of ABIOMED opened at $410.64 on Thursday, according to MarketBeat.com. The firm has a market capitalization of $18.58 billion, a P/E ratio of 167.61, a PEG ratio of 4.41 and a beta of 0.21. ABIOMED, Inc. has a twelve month low of $139.49 and a twelve month high of $450.93.

ABIOMED (NASDAQ:ABMD) last issued its earnings results on Thursday, May 3rd. The medical equipment provider reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.16. The business had revenue of $174.44 million for the quarter, compared to analyst estimates of $164.30 million. ABIOMED had a return on equity of 17.58% and a net margin of 18.89%. The business’s quarterly revenue was up 39.9% on a year-over-year basis. During the same period last year, the company posted $0.33 EPS. analysts predict that ABIOMED, Inc. will post 3.5 earnings per share for the current fiscal year.

In related news, Director Martin P. Sutter sold 21,890 shares of the stock in a transaction on Tuesday, May 8th. The stock was sold at an average price of $343.50, for a total value of $7,519,215.00. Following the transaction, the director now directly owns 46,668 shares of the company’s stock, valued at approximately $16,030,458. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Michael G. Howley sold 17,500 shares of the stock in a transaction on Monday, May 7th. The stock was sold at an average price of $348.11, for a total value of $6,091,925.00. Following the completion of the transaction, the vice president now directly owns 64,257 shares in the company, valued at $22,368,504.27. The disclosure for this sale can be found here. Insiders sold a total of 213,680 shares of company stock worth $88,292,489 over the last ninety days. Corporate insiders own 7.00% of the company’s stock.

A number of research analysts have weighed in on ABMD shares. ValuEngine raised ABIOMED from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Zacks Investment Research raised ABIOMED from a “hold” rating to a “strong-buy” rating and set a $335.00 price target on the stock in a research note on Tuesday, April 3rd. Goldman Sachs Group started coverage on ABIOMED in a research note on Wednesday, April 4th. They set a “buy” rating and a $332.00 price target on the stock. Morgan Stanley increased their price target on ABIOMED from $259.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 1st. Finally, Piper Jaffray Companies increased their price target on ABIOMED to $360.00 and gave the stock an “overweight” rating in a research note on Thursday, May 3rd. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $360.00.

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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