State of Wisconsin Investment Board grew its stake in shares of Edwards Lifesciences Corp (NYSE:EW) by 34.6% during the fourth quarter, HoldingsChannel reports. The firm owned 307,551 shares of the medical research company’s stock after purchasing an additional 79,019 shares during the period. State of Wisconsin Investment Board’s holdings in Edwards Lifesciences were worth $34,664,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the business. Cerebellum GP LLC acquired a new position in shares of Edwards Lifesciences in the 4th quarter valued at $128,000. Resources Investment Advisors Inc. increased its holdings in shares of Edwards Lifesciences by 66.0% in the 4th quarter. Resources Investment Advisors Inc. now owns 1,170 shares of the medical research company’s stock valued at $132,000 after acquiring an additional 465 shares during the period. Exane Derivatives increased its holdings in shares of Edwards Lifesciences by 381.3% in the 4th quarter. Exane Derivatives now owns 1,213 shares of the medical research company’s stock valued at $137,000 after acquiring an additional 961 shares during the period. Dupont Capital Management Corp acquired a new position in shares of Edwards Lifesciences in the 3rd quarter valued at $142,000. Finally, Diversified Trust Co acquired a new position in shares of Edwards Lifesciences in the 4th quarter valued at $209,000. 81.11% of the stock is currently owned by institutional investors.
EW has been the topic of a number of recent research reports. Canaccord Genuity reaffirmed a “buy” rating and issued a $135.00 target price (down from $155.00) on shares of Edwards Lifesciences in a report on Wednesday, October 25th. Evercore ISI initiated coverage on shares of Edwards Lifesciences in a report on Wednesday, January 3rd. They issued an “outperform” rating and a $140.00 target price on the stock. Morgan Stanley lifted their target price on shares of Edwards Lifesciences from $130.00 to $138.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. SunTrust Banks set a $124.00 target price on shares of Edwards Lifesciences and gave the company a “buy” rating in a report on Wednesday, October 25th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $137.00 target price on shares of Edwards Lifesciences in a report on Friday, December 8th. Three investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $141.15.
In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,300 shares of the business’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $116.45, for a total transaction of $617,185.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael A. Mussallem sold 32,900 shares of the business’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $106.86, for a total transaction of $3,515,694.00. The disclosure for this sale can be found here. Insiders have sold a total of 205,530 shares of company stock worth $24,163,915 over the last 90 days. Insiders own 2.13% of the company’s stock.
Edwards Lifesciences Corp (EW) opened at $133.82 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.81 and a quick ratio of 1.41. The stock has a market cap of $28,318.99, a price-to-earnings ratio of 46.47, a price-to-earnings-growth ratio of 1.98 and a beta of 0.63. Edwards Lifesciences Corp has a 12 month low of $89.20 and a 12 month high of $138.48.
Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Thursday, February 1st. The medical research company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.03. The company had revenue of $888.50 million for the quarter, compared to analysts’ expectations of $868.45 million. Edwards Lifesciences had a net margin of 18.11% and a return on equity of 27.69%. Edwards Lifesciences’s revenue was up 15.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.75 EPS. equities research analysts anticipate that Edwards Lifesciences Corp will post 4.49 earnings per share for the current fiscal year.
Edwards Lifesciences announced that its Board of Directors has approved a stock repurchase program on Thursday, December 7th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
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Edwards Lifesciences Company 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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