Janney Montgomery Scott LLC increased its holdings in shares of Edwards Lifesciences Corp (NYSE:EW) by 10.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,147 shares of the medical research company’s stock after buying an additional 963 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Edwards Lifesciences were worth $1,109,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also made changes to their positions in the company. ETF Managers Group LLC acquired a new position in shares of Edwards Lifesciences during the second quarter valued at approximately $112,000. MPS Loria Financial Planners LLC acquired a new position in shares of Edwards Lifesciences during the second quarter valued at approximately $140,000. Captrust Financial Advisors purchased a new stake in shares of Edwards Lifesciences in the second quarter valued at approximately $149,000. Dupont Capital Management Corp purchased a new stake in shares of Edwards Lifesciences in the third quarter valued at approximately $142,000. Finally, Salem Investment Counselors Inc. grew its position in shares of Edwards Lifesciences by 16.3% in the second quarter. Salem Investment Counselors Inc. now owns 1,419 shares of the medical research company’s stock valued at $168,000 after purchasing an additional 199 shares in the last quarter. Hedge funds and other institutional investors own 81.36% of the company’s stock.
Shares of Edwards Lifesciences Corp (EW) traded up $0.84 during mid-day trading on Friday, hitting $120.83. The company’s stock had a trading volume of 1,029,876 shares, compared to its average volume of 1,500,000. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.76 and a current ratio of 3.49. Edwards Lifesciences Corp has a 12 month low of $86.55 and a 12 month high of $121.45. The stock has a market capitalization of $25,570.00, a price-to-earnings ratio of 35.13, a price-to-earnings-growth ratio of 1.92 and a beta of 0.51.
Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Tuesday, October 24th. The medical research company reported $0.84 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.02). Edwards Lifesciences had a return on equity of 27.22% and a net margin of 22.47%. The company had revenue of $821.50 million for the quarter, compared to analysts’ expectations of $833.85 million. During the same period in the prior year, the business earned $0.68 EPS. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. research analysts forecast that Edwards Lifesciences Corp will post 3.76 EPS for the current fiscal year.
Edwards Lifesciences declared that its Board of Directors has initiated a stock buyback program on Thursday, December 7th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the medical research company to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In other news, Director Schack Wesley W. Von sold 1,000 shares of Edwards Lifesciences stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $104.15, for a total transaction of $104,150.00. Following the completion of the sale, the director now directly owns 2,622 shares in the company, valued at approximately $273,081.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,300 shares of Edwards Lifesciences stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $101.12, for a total transaction of $535,936.00. The disclosure for this sale can be found here. Insiders sold a total of 210,480 shares of company stock worth $23,056,527 in the last ninety days. 2.13% of the stock is owned by corporate insiders.
EW has been the subject of several analyst reports. Canaccord Genuity reiterated a “buy” rating and issued a $155.00 price objective on shares of Edwards Lifesciences in a research report on Sunday, October 8th. Cowen restated a “buy” rating and set a $135.00 price target on shares of Edwards Lifesciences in a research report on Thursday, October 12th. Barclays lowered their price target on Edwards Lifesciences from $120.00 to $118.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 25th. JPMorgan Chase & Co. lowered Edwards Lifesciences from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 2nd. Finally, Deutsche Bank reduced their price objective on Edwards Lifesciences from $122.00 to $115.00 and set a “hold” rating on the stock in a research note on Thursday, October 26th. Six research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $129.57.
About Edwards Lifesciences
Edwards Lifesciences Corporation is a manufacturer of heart valve systems and repair products used to replace or repair a patient’s diseased or defective heart valve. The Company is engaged in patient-focused innovations for structural heart disease and critical care monitoring. Its segments include United States, Europe, Japan and Rest of World.
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