Patten & Patten Inc. TN boosted its holdings in Edwards Lifesciences Corp (NYSE:EW) by 27.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 78,945 shares of the medical research company’s stock after purchasing an additional 16,895 shares during the quarter. Patten & Patten Inc. TN’s holdings in Edwards Lifesciences were worth $8,898,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. grew its position in Edwards Lifesciences by 4.6% in the 3rd quarter. Victory Capital Management Inc. now owns 557,773 shares of the medical research company’s stock valued at $60,969,000 after purchasing an additional 24,399 shares during the period. Korea Investment CORP grew its position in Edwards Lifesciences by 144.5% in the 3rd quarter. Korea Investment CORP now owns 355,683 shares of the medical research company’s stock valued at $38,880,000 after purchasing an additional 210,200 shares during the period. Raymond James Financial Services Advisors Inc. grew its position in Edwards Lifesciences by 53.3% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 11,991 shares of the medical research company’s stock valued at $1,418,000 after purchasing an additional 4,170 shares during the period. Oakbrook Investments LLC grew its position in Edwards Lifesciences by 25.7% in the 3rd quarter. Oakbrook Investments LLC now owns 19,050 shares of the medical research company’s stock valued at $2,082,000 after purchasing an additional 3,900 shares during the period. Finally, ING Groep NV grew its position in Edwards Lifesciences by 41.2% in the 3rd quarter. ING Groep NV now owns 22,905 shares of the medical research company’s stock valued at $2,504,000 after purchasing an additional 6,684 shares during the period. 81.52% of the stock is owned by institutional investors and hedge funds.
In other news, VP Larry L. Wood sold 6,300 shares of Edwards Lifesciences stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $121.00, for a total transaction of $762,300.00. Following the sale, the vice president now directly owns 116,148 shares in the company, valued at approximately $14,053,908. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael A. Mussallem sold 32,800 shares of Edwards Lifesciences stock in a transaction on Thursday, January 4th. The stock was 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. Insiders have sold a total of 197,820 shares of company stock worth $21,760,908 over the last quarter. Company insiders own 2.13% of the company’s stock.
EW has been the subject of several research reports. Canaccord Genuity reissued a “buy” rating and issued a $135.00 price target (down previously from $155.00) on shares of Edwards Lifesciences in a research report on Wednesday, October 25th. Evercore ISI initiated coverage on shares of Edwards Lifesciences in a research report on Wednesday, January 3rd. They issued an “outperform” rating and a $140.00 price target for the company. SunTrust Banks set a $124.00 price target on shares of Edwards Lifesciences and gave the company a “buy” rating in a research report on Wednesday, October 25th. Morgan Stanley reduced their price target on shares of Edwards Lifesciences from $133.00 to $120.00 and set an “overweight” rating for the company in a research report on Thursday, October 26th. Finally, Barclays reaffirmed an “equal weight” rating and set a $120.00 price objective on shares of Edwards Lifesciences in a report on Saturday, September 30th. Six equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $129.57.
Edwards Lifesciences Corp (NYSE EW) traded up $2.19 during midday trading on Monday, hitting $123.91. The stock had a trading volume of 1,255,400 shares, compared to its average volume of 1,234,746. The company has a market cap of $26,221.82, a PE ratio of 36.02, a price-to-earnings-growth ratio of 1.98 and a beta of 0.51. Edwards Lifesciences Corp has a 12 month low of $86.55 and a 12 month high of $124.10. The company has a quick ratio of 2.76, a current ratio of 3.49 and a debt-to-equity ratio of 0.33.
Edwards Lifesciences (NYSE:EW) last released its earnings results on Tuesday, October 24th. The medical research company reported $0.84 EPS for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.02). The business had revenue of $821.50 million for the quarter, compared to the consensus estimate of $833.85 million. Edwards Lifesciences had a return on equity of 27.22% and a net margin of 22.47%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.68 earnings per share. equities research analysts forecast that Edwards Lifesciences Corp will post 3.76 earnings per share for the current fiscal year.
Edwards Lifesciences announced that its Board of Directors has initiated a share buyback plan on Thursday, December 7th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the medical research company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board 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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