Cambridge Investment Research Advisors Inc. reduced its position in Edwards Lifesciences Corp (NYSE:EW) by 1.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 20,038 shares of the medical research company’s stock after selling 292 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Edwards Lifesciences were worth $3,780,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. grew its position in Edwards Lifesciences by 2.5% during the 1st quarter. BlackRock Inc. now owns 18,659,731 shares of the medical research company’s stock worth $3,519,597,000 after purchasing an additional 458,932 shares during the last quarter. State Street Corp raised its stake in Edwards Lifesciences by 1.4% during the 4th quarter. State Street Corp now owns 8,916,931 shares of the medical research company’s stock valued at $2,080,231,000 after acquiring an additional 121,185 shares during the last quarter. FMR LLC lifted its position in Edwards Lifesciences by 5.8% during the 4th quarter. FMR LLC now owns 8,092,575 shares of the medical research company’s stock worth $1,887,918,000 after acquiring an additional 443,415 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Edwards Lifesciences by 5.6% in the 1st quarter. Bank of New York Mellon Corp now owns 6,550,480 shares of the medical research company’s stock valued at $1,235,552,000 after purchasing an additional 346,555 shares during the last quarter. Finally, Capital Research Global Investors raised its stake in shares of Edwards Lifesciences by 3.4% during the fourth quarter. Capital Research Global Investors now owns 4,672,749 shares of the medical research company’s stock worth $1,090,106,000 after purchasing an additional 152,377 shares during the last quarter. 81.22% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently commented on EW. Canaccord Genuity restated a “buy” rating on shares of Edwards Lifesciences in a research note on Friday, April 24th. BTIG Research reiterated a “hold” rating on shares of Edwards Lifesciences in a research report on Thursday, April 23rd. Citigroup raised their price target on Edwards Lifesciences from $240.00 to $255.00 and gave the company a “buy” rating in a report on Friday, April 24th. Cfra upped their price objective on Edwards Lifesciences from $201.00 to $231.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Finally, Goldman Sachs Group started coverage on shares of Edwards Lifesciences in a research report on Wednesday, February 12th. They set a “neutral” rating and a $253.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $247.52.
In related news, VP Catherine M. Szyman sold 1,116 shares of the firm’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $162.95, for a total value of $181,852.20. Following the sale, the vice president now directly owns 15,773 shares of the company’s stock, valued at $2,570,210.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael A. Mussallem sold 22,850 shares of the business’s stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $202.34, for a total transaction of $4,623,469.00. Following the completion of the sale, the chief executive officer now owns 69,976 shares of the company’s stock, valued at $14,158,943.84. The disclosure for this sale can be found here. Insiders have sold 95,878 shares of company stock worth $20,047,408 in the last 90 days. Insiders own 1.48% of the company’s stock.
Edwards Lifesciences stock opened at $218.81 on Friday. The stock has a market capitalization of $45.13 billion, a P/E ratio of 41.84, a P/E/G ratio of 2.75 and a beta of 0.85. Edwards Lifesciences Corp has a 12-month low of $154.52 and a 12-month high of $247.64. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.36 and a quick ratio of 2.47. The firm’s 50-day moving average is $212.94 and its two-hundred day moving average is $222.43.
Edwards Lifesciences (NYSE:EW) last announced its earnings results on Thursday, April 23rd. The medical research company reported $1.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.22. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.03 billion. Edwards Lifesciences had a net margin of 24.71% and a return on equity of 31.83%. Edwards Lifesciences’s revenue was up 13.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.32 earnings per share. As a group, analysts forecast that Edwards Lifesciences Corp will post 4.95 EPS for the current year.
Edwards Lifesciences Company Profile
Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States and internationally. It offers transcatheter heart valve therapy products comprising transcatheter aortic valve replacement, and transcatheter mitral and tricuspid therapies for the nonsurgical replacement of heart valves.
Featured Story: What is the Euro STOXX 50 Index?
Want to see what other hedge funds are holding EW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Edwards Lifesciences Corp (NYSE:EW).
Receive News & Ratings for Edwards Lifesciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edwards Lifesciences and related companies with MarketBeat.com's FREE daily email newsletter.