Virtus Fund Advisers LLC lowered its holdings in Edwards Lifesciences Corp (NYSE:EW) by 24.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 91,665 shares of the medical research company’s stock after selling 29,449 shares during the quarter. Virtus Fund Advisers LLC’s holdings in Edwards Lifesciences were worth $10,332,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. BlackRock Inc. increased its stake in Edwards Lifesciences by 2.2% in the fourth quarter. BlackRock Inc. now owns 15,410,737 shares of the medical research company’s stock valued at $1,736,943,000 after acquiring an additional 331,896 shares during the period. Bank of New York Mellon Corp grew its stake in Edwards Lifesciences by 45.7% during the fourth quarter. Bank of New York Mellon Corp now owns 7,580,924 shares of the medical research company’s stock worth $854,444,000 after buying an additional 2,377,444 shares during the last quarter. Wells Fargo & Company MN grew 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. American Century Companies Inc. grew its stake in Edwards Lifesciences by 7.0% during the third quarter. American Century Companies Inc. now owns 2,224,010 shares of the medical research company’s stock worth $243,107,000 after buying an additional 144,701 shares during the last quarter. Finally, Artisan Partners Limited Partnership grew its stake in Edwards Lifesciences by 12.0% during the third quarter. Artisan Partners Limited Partnership now owns 1,432,428 shares of the medical research company’s stock worth $156,579,000 after buying an additional 153,896 shares during the last quarter. 81.23% of the stock is currently owned by institutional investors and hedge funds.
Edwards Lifesciences Corp (EW) opened at $134.32 on Wednesday. Edwards Lifesciences Corp has a twelve month low of $89.20 and a twelve month high of $138.48. The firm has a market cap of $28,105.37, a P/E ratio of 35.22, a P/E/G ratio of 1.98 and a beta of 0.63. The company has a quick ratio of 1.41, a current ratio of 1.81 and a debt-to-equity ratio of 0.15.
Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Thursday, February 1st. The medical research company reported $0.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.03. Edwards Lifesciences had a net margin of 18.11% and a return on equity of 27.69%. The business had revenue of $888.50 million for the quarter, compared to analyst estimates of $868.45 million. During the same period in the prior year, the business posted $0.75 earnings per share. Edwards Lifesciences’s revenue was up 15.7% compared to the same quarter last year. equities analysts predict that Edwards Lifesciences Corp will post 4.49 EPS for the current fiscal year.
Edwards Lifesciences announced that its board has authorized a stock buyback program 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 programs are typically an indication that the company’s board believes its stock is undervalued.
In other Edwards Lifesciences news, Director William J. Phd Link sold 12,000 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $122.24, for a total value of $1,466,880.00. Following the sale, the director now directly owns 24,596 shares in the company, valued at $3,006,615.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael A. Mussallem sold 32,800 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $126.69, for a total transaction of $4,155,432.00. Following the completion of the sale, the chief executive officer now owns 74,131 shares in the company, valued at $9,391,656.39. The disclosure for this sale can be found here. Over the last quarter, insiders sold 172,630 shares of company stock worth $20,648,221. Company insiders own 2.13% of the company’s stock.
Several brokerages have weighed in on EW. JMP Securities upped their price objective on shares of Edwards Lifesciences from $135.00 to $140.00 and gave the stock a “market outperform” rating in a research note on Friday, February 2nd. SunTrust Banks reaffirmed a “buy” rating and set a $150.00 price objective on shares of Edwards Lifesciences in a research note on Wednesday, January 31st. Guggenheim reaffirmed a “buy” rating and set a $162.00 price objective on shares of Edwards Lifesciences in a research note on Friday, February 2nd. Barclays reduced their target price on shares of Edwards Lifesciences from $120.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 25th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $137.00 target price on shares of Edwards Lifesciences in a research report on Wednesday, November 29th. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $141.15.
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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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