Raymond James & Associates reduced its stake in shares of Edwards Lifesciences Corp (NYSE:EW) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 163,019 shares of the medical research company’s stock after selling 1,407 shares during the quarter. Raymond James & Associates owned about 0.08% of Edwards Lifesciences worth $18,374,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Cerebellum GP LLC bought a new position in shares of Edwards Lifesciences in the fourth quarter worth $128,000. Resources Investment Advisors Inc. grew its stake in shares of Edwards Lifesciences by 66.0% in the fourth quarter. Resources Investment Advisors Inc. now owns 1,170 shares of the medical research company’s stock worth $132,000 after purchasing an additional 465 shares in the last quarter. Exane Derivatives grew its stake in shares of Edwards Lifesciences by 381.3% in the fourth quarter. Exane Derivatives now owns 1,213 shares of the medical research company’s stock worth $137,000 after purchasing an additional 961 shares in the last quarter. Diversified Trust Co bought a new position in shares of Edwards Lifesciences in the fourth quarter worth $209,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of Edwards Lifesciences by 185.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,868 shares of the medical research company’s stock worth $210,000 after purchasing an additional 1,213 shares in the last quarter. Hedge funds and other institutional investors own 82.89% of the company’s stock.
In other news, VP Donald E. Bobo, Jr. sold 5,300 shares of the company’s stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $114.08, for a total transaction of $604,624.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael A. Mussallem sold 32,800 shares of the company’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $114.97, for a total value of $3,771,016.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 142,903 shares of company stock valued at $17,850,415. 2.13% of the stock is currently owned by company insiders.
Several research analysts have recently issued reports on EW shares. JPMorgan Chase & Co. cut Edwards Lifesciences from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 2nd. Barclays upgraded Edwards Lifesciences from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $125.00 to $135.00 in a report on Thursday, January 4th. Cowen set a $135.00 price objective on Edwards Lifesciences and gave the company a “buy” rating in a report on Sunday, December 10th. Canaccord Genuity restated a “buy” rating and issued a $174.00 price objective (up previously from $140.00) on shares of Edwards Lifesciences in a report on Friday, February 2nd. Finally, Evercore ISI initiated coverage on Edwards Lifesciences in a report on Wednesday, January 3rd. They issued an “outperform” rating and a $140.00 price objective for the company. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Edwards Lifesciences currently has an average rating of “Buy” and a consensus target price of $141.15.
Shares of Edwards Lifesciences Corp (NYSE:EW) opened at $139.40 on Tuesday. Edwards Lifesciences Corp has a fifty-two week low of $92.35 and a fifty-two week high of $143.22. The company has a market capitalization of $29,894.77, a price-to-earnings ratio of 48.40, a PEG ratio of 2.09 and a beta of 0.56. The company has a current ratio of 1.80, a quick ratio of 1.41 and a debt-to-equity ratio of 0.15.
Edwards Lifesciences (NYSE:EW) last announced its earnings results on Thursday, February 1st. The medical research company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.91 by $0.03. Edwards Lifesciences had a return on equity of 27.78% and a net margin of 18.11%. The business had revenue of $888.50 million during the quarter, compared to the consensus estimate of $868.45 million. During the same period in the prior year, the business posted $0.75 earnings per share. Edwards Lifesciences’s revenue was up 15.7% compared to the same quarter last year. sell-side analysts anticipate that Edwards Lifesciences Corp will post 4.53 EPS for the current year.
Edwards Lifesciences announced that its Board of Directors has approved a stock repurchase plan on Thursday, December 7th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the medical research company to repurchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
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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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