SRS Capital Advisors Inc. acquired a new stake in shares of Edwards Lifesciences Corp (NYSE:EW) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 900 shares of the medical research company’s stock, valued at approximately $166,000.
Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. lifted its stake in Edwards Lifesciences by 4.7% during the 1st quarter. BlackRock Inc. now owns 17,211,498 shares of the medical research company’s stock valued at $3,293,075,000 after acquiring an additional 780,079 shares during the period. FMR LLC lifted its stake in Edwards Lifesciences by 7.9% during the 1st quarter. FMR LLC now owns 8,175,796 shares of the medical research company’s stock valued at $1,564,274,000 after acquiring an additional 598,976 shares during the period. Jennison Associates LLC lifted its stake in shares of Edwards Lifesciences by 4.8% in the 2nd quarter. Jennison Associates LLC now owns 6,039,006 shares of the medical research company’s stock worth $1,115,646,000 after purchasing an additional 275,182 shares during the period. Geode Capital Management LLC lifted its stake in shares of Edwards Lifesciences by 7.4% in the 4th quarter. Geode Capital Management LLC now owns 2,942,494 shares of the medical research company’s stock worth $449,976,000 after purchasing an additional 202,248 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Edwards Lifesciences by 1.0% in the 1st quarter. Northern Trust Corp now owns 2,373,668 shares of the medical research company’s stock worth $454,154,000 after purchasing an additional 22,536 shares during the period. 81.90% of the stock is currently owned by institutional investors.
In other Edwards Lifesciences news, CEO Michael A. Mussallem sold 22,850 shares of Edwards Lifesciences stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $216.70, for a total value of $4,951,595.00. Following the transaction, the chief executive officer now directly owns 95,770 shares in the company, valued at approximately $20,753,359. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Scott B. Ullem sold 7,500 shares of Edwards Lifesciences stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $213.44, for a total value of $1,600,800.00. Following the completion of the transaction, the chief financial officer now owns 21,064 shares in the company, valued at $4,495,900.16. The disclosure for this sale can be found here. Insiders have sold a total of 175,515 shares of company stock worth $35,385,913 in the last 90 days. 1.63% of the stock is currently owned by company insiders.
EW has been the topic of a number of recent analyst reports. BMO Capital Markets raised their target price on shares of Edwards Lifesciences from $204.00 to $224.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Jefferies Financial Group increased their price objective on shares of Edwards Lifesciences from $210.00 to $245.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Credit Suisse Group raised their target price on shares of Edwards Lifesciences from $221.00 to $226.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. BTIG Research reissued a “hold” rating on shares of Edwards Lifesciences in a report on Thursday, July 25th. Finally, Zacks Investment Research upgraded Edwards Lifesciences from a “hold” rating to a “buy” rating and set a $232.00 price target for the company in a research report on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the stock. Edwards Lifesciences presently has an average rating of “Buy” and a consensus target price of $204.74.
NYSE:EW traded up $3.77 during mid-day trading on Thursday, reaching $220.67. 19,526 shares of the stock were exchanged, compared to its average volume of 1,025,944. The company has a 50 day simple moving average of $209.25 and a 200-day simple moving average of $187.74. The stock has a market capitalization of $44.85 billion, a P/E ratio of 46.97, a P/E/G ratio of 2.72 and a beta of 0.87. The company has a quick ratio of 2.48, a current ratio of 3.38 and a debt-to-equity ratio of 0.18. Edwards Lifesciences Corp has a 1 year low of $136.44 and a 1 year high of $226.41.
Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Tuesday, July 23rd. The medical research company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.05. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.04 billion. Edwards Lifesciences had a return on equity of 31.25% and a net margin of 18.29%. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.24 EPS. As a group, research analysts predict that Edwards Lifesciences Corp will post 5.34 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.
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