Pictet Asset Management SA Grows Stock Holdings in Abiomed, Inc. (NASDAQ:ABMD)

Pictet Asset Management SA lifted its holdings in shares of Abiomed, Inc. (NASDAQ:ABMDGet Rating) by 0.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,780 shares of the medical equipment provider’s stock after acquiring an additional 60 shares during the quarter. Pictet Asset Management SA’s holdings in Abiomed were worth $5,638,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Parallel Advisors LLC grew its stake in shares of Abiomed by 26.2% in the first quarter. Parallel Advisors LLC now owns 188 shares of the medical equipment provider’s stock valued at $62,000 after buying an additional 39 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Abiomed by 6.4% during the first quarter. Daiwa Securities Group Inc. now owns 2,861 shares of the medical equipment provider’s stock valued at $948,000 after purchasing an additional 173 shares during the period. Signaturefd LLC lifted its position in shares of Abiomed by 71.2% during the first quarter. Signaturefd LLC now owns 250 shares of the medical equipment provider’s stock worth $83,000 after purchasing an additional 104 shares in the last quarter. Mutual of America Capital Management LLC boosted its stake in shares of Abiomed by 1.1% in the first quarter. Mutual of America Capital Management LLC now owns 6,086 shares of the medical equipment provider’s stock valued at $2,016,000 after purchasing an additional 69 shares during the period. Finally, Metis Global Partners LLC acquired a new stake in Abiomed during the 1st quarter valued at $239,000. 92.96% of the stock is currently owned by institutional investors and hedge funds.

Abiomed Price Performance

Shares of ABMD opened at $377.29 on Friday. Abiomed, Inc. has a 12-month low of $219.85 and a 12-month high of $381.99. The business’s fifty day moving average price is $289.35 and its 200 day moving average price is $272.39. The stock has a market capitalization of $17.01 billion, a PE ratio of 64.83, a price-to-earnings-growth ratio of 3.19 and a beta of 1.28.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ABMD shares. Piper Sandler lowered shares of Abiomed from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $350.00 to $380.00 in a report on Tuesday, November 1st. Deutsche Bank Aktiengesellschaft lowered Abiomed from a “buy” rating to a “hold” rating and raised their price objective for the company from $355.00 to $388.00 in a research note on Wednesday, November 2nd. Morgan Stanley upgraded Abiomed from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $235.00 to $380.00 in a research note on Wednesday, November 2nd. Mizuho initiated coverage on shares of Abiomed in a research note on Wednesday, October 12th. They issued a “buy” rating and a $300.00 price target for the company. Finally, StockNews.com started coverage on shares of Abiomed in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $350.50.

Insider Transactions at Abiomed

In related news, VP Marc A. Began sold 2,000 shares of the business’s stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $373.71, for a total transaction of $747,420.00. Following the completion of the sale, the vice president now owns 13,785 shares of the company’s stock, valued at approximately $5,151,592.35. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Abiomed news, Director Paul Thomas sold 1,000 shares of the firm’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $379.38, for a total value of $379,380.00. Following the sale, the director now directly owns 6,357 shares in the company, valued at $2,411,718.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Marc A. Began sold 2,000 shares of the company’s stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $373.71, for a total transaction of $747,420.00. Following the transaction, the vice president now owns 13,785 shares of the company’s stock, valued at approximately $5,151,592.35. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,044 shares of company stock worth $2,596,569. 2.50% of the stock is currently owned by insiders.

Abiomed Profile

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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 a continuum of care to heart failure patients. The company offers Impella 2.5, a percutaneous micro heart pump with integrated motor and sensors; and Impella CP, a device for use by interventional cardiologists to support patients in the cath lab, as well as by cardiac surgeons in the heart surgery suite.

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Institutional Ownership by Quarter for Abiomed (NASDAQ:ABMD)

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