Mackenzie Financial Corp lifted its stake in shares of Edwards Lifesciences Corp (NYSE:EW) by 30.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,686 shares of the medical research company’s stock after purchasing an additional 1,329 shares during the period. Mackenzie Financial Corp’s holdings in Edwards Lifesciences were worth $641,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the company. Cerebellum GP LLC acquired a new position in Edwards Lifesciences in the fourth quarter valued at approximately $128,000. Resources Investment Advisors Inc. lifted its holdings in Edwards Lifesciences by 66.0% in the fourth quarter. Resources Investment Advisors Inc. now owns 1,170 shares of the medical research company’s stock valued at $132,000 after buying an additional 465 shares during the period. Exane Derivatives lifted its holdings in Edwards Lifesciences by 381.3% in the fourth quarter. Exane Derivatives now owns 1,213 shares of the medical research company’s stock valued at $137,000 after buying an additional 961 shares during the period. Dupont Capital Management Corp acquired a new position in Edwards Lifesciences in the third quarter valued at approximately $142,000. Finally, Diversified Trust Co acquired a new position in Edwards Lifesciences in the fourth quarter valued at approximately $209,000. Institutional investors own 82.86% of the company’s stock.
EW has been the topic of several analyst reports. Guggenheim restated a “buy” rating and issued a $162.00 price objective on shares of Edwards Lifesciences in a report on Friday, February 2nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $155.00 target price on shares of Edwards Lifesciences in a research note on Friday, February 2nd. Canaccord Genuity reaffirmed a “buy” rating and issued a $174.00 target price (up previously from $140.00) on shares of Edwards Lifesciences in a research note on Friday, February 2nd. Cowen reaffirmed a “buy” rating and issued a $150.00 target price on shares of Edwards Lifesciences in a research note on Thursday, February 1st. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $150.00 target price on shares of Edwards Lifesciences in a research note on Wednesday, January 31st. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $141.15.
In related news, VP Donald E. Bobo, Jr. sold 3,750 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $127.54, for a total value of $478,275.00. Following the completion of the transaction, the vice president now owns 19,608 shares of the company’s stock, valued at $2,500,804.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,300 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $127.24, for a total transaction of $674,372.00. Following the completion of the transaction, the vice president now directly owns 24,908 shares of the company’s stock, valued at approximately $3,169,293.92. The disclosure for this sale can be found here. Insiders have sold 184,563 shares of company stock valued at $22,358,569 in the last three months. 2.13% of the stock is owned by insiders.
Shares of Edwards Lifesciences Corp (NYSE:EW) opened at $140.04 on Tuesday. The company has a current ratio of 1.80, a quick ratio of 1.41 and a debt-to-equity ratio of 0.15. Edwards Lifesciences Corp has a 12-month low of $91.30 and a 12-month high of $140.76. The stock has a market cap of $29,260.50, a price-to-earnings ratio of 36.66, a PEG ratio of 2.06 and a beta of 0.56.
Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings data on Thursday, February 1st. The medical research company reported $0.94 earnings per share (EPS) for the quarter, topping 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 27.78%. The company had revenue of $888.50 million during the quarter, compared to the consensus estimate of $868.45 million. During the same quarter in the prior year, the firm earned $0.75 earnings per share. The firm’s revenue was up 15.7% compared to the same quarter last year. research analysts expect that Edwards Lifesciences Corp will post 4.49 EPS for the current fiscal year.
Edwards Lifesciences declared that its board has authorized a share repurchase plan on Thursday, December 7th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the medical research company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
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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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