BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $18.78 Million Position in Edwards Lifesciences Corporation (EW)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its position in shares of Edwards Lifesciences Corporation (NYSE:EW) by 3.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 171,794 shares of the medical research company’s stock after selling 5,394 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.08% of Edwards Lifesciences worth $18,779,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its stake in shares of Edwards Lifesciences by 161.7% during the second quarter. Bank of New York Mellon Corp now owns 5,304,536 shares of the medical research company’s stock valued at $627,207,000 after acquiring an additional 3,277,726 shares during the last quarter. Koch Industries Inc. raised its stake in Edwards Lifesciences by 28,363.1% during the second quarter. Koch Industries Inc. now owns 1,397,254 shares of the medical research company’s stock worth $1,386,000 after buying an additional 1,392,345 shares during the last quarter. Artisan Partners Limited Partnership raised its stake in Edwards Lifesciences by 90.6% during the second quarter. Artisan Partners Limited Partnership now owns 1,278,532 shares of the medical research company’s stock worth $151,174,000 after buying an additional 607,784 shares during the last quarter. Old Mutual Global Investors UK Ltd. raised its stake in Edwards Lifesciences by 83.0% during the third quarter. Old Mutual Global Investors UK Ltd. now owns 1,100,885 shares of the medical research company’s stock worth $120,337,000 after buying an additional 499,436 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in Edwards Lifesciences by 20.2% during the third quarter. Wells Fargo & Company MN now owns 2,548,282 shares of the medical research company’s stock worth $278,553,000 after buying an additional 429,022 shares during the last quarter. Institutional investors and hedge funds own 81.63% of the company’s stock.

Edwards Lifesciences Corporation (NYSE EW) traded up $4.09 on Friday, reaching $117.45. 2,258,600 shares of the company’s stock were exchanged, compared to its average volume of 1,643,873. The company has a current ratio of 3.49, a quick ratio of 2.76 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $23,989.23, a PE ratio of 31.40, a price-to-earnings-growth ratio of 2.03 and a beta of 0.51. Edwards Lifesciences Corporation has a 52-week low of $85.27 and a 52-week high of $121.45.

Edwards Lifesciences (NYSE:EW) last released its earnings results on Tuesday, October 24th. The medical research company reported $0.84 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.02). The company had revenue of $821.50 million during the quarter, compared to analysts’ expectations of $833.85 million. Edwards Lifesciences had a net margin of 22.47% and a return on equity of 27.22%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 earnings per share. sell-side analysts expect that Edwards Lifesciences Corporation will post 3.75 EPS for the current year.

Edwards Lifesciences announced that its board has authorized a share buyback program on Thursday, December 7th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the medical research company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

A number of equities analysts recently weighed in on EW shares. SunTrust Banks set a $124.00 target price on shares of Edwards Lifesciences and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Canaccord Genuity reissued a “buy” rating and set a $135.00 target price (down previously from $155.00) on shares of Edwards Lifesciences in a research note on Wednesday, October 25th. Cowen reaffirmed a “buy” rating and issued a $135.00 price target on shares of Edwards Lifesciences in a research note on Thursday, October 12th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $130.00 price target on shares of Edwards Lifesciences in a research note on Friday, September 1st. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $132.00 price target on shares of Edwards Lifesciences in a research note on Friday, September 1st. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $125.78.

In related news, VP Donald E. Bobo, Jr. sold 5,300 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $108.86, for a total transaction of $576,958.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Schack Wesley W. Von sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $104.15, for a total transaction of $104,150.00. Following the sale, the director now directly owns 2,622 shares in the company, valued at approximately $273,081.30. The disclosure for this sale can be found here. In the last three months, insiders sold 139,580 shares of company stock worth $14,849,205. Insiders own 2.13% of the company’s stock.

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Edwards Lifesciences Profile

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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Institutional Ownership by Quarter for Edwards Lifesciences (NYSE:EW)

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