Quantitative Investment Management LLC trimmed its holdings in shares of Edwards Lifesciences Corp (NYSE:EW) by 87.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,500 shares of the medical research company’s stock after selling 257,200 shares during the period. Quantitative Investment Management LLC’s holdings in Edwards Lifesciences were worth $4,226,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bank of New York Mellon Corp boosted its holdings in shares of 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 purchasing an additional 2,377,444 shares during the period. Atlantic Trust Group LLC boosted its holdings in shares of Edwards Lifesciences by 734.7% during the third quarter. Atlantic Trust Group LLC now owns 914,989 shares of the medical research company’s stock worth $100,018,000 after purchasing an additional 805,370 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Edwards Lifesciences by 12.1% during the fourth quarter. Alliancebernstein L.P. now owns 6,259,771 shares of the medical research company’s stock worth $705,539,000 after purchasing an additional 675,216 shares during the period. Janus Henderson Group PLC raised its stake in Edwards Lifesciences by 1,135.0% in the third quarter. Janus Henderson Group PLC now owns 619,703 shares of the medical research company’s stock worth $67,739,000 after buying an additional 569,525 shares in the last quarter. Finally, Champlain Investment Partners LLC bought a new position in Edwards Lifesciences in the fourth quarter worth about $56,393,000. Institutional investors and hedge funds own 82.90% of the company’s stock.
Shares of EW opened at $137.51 on Friday. Edwards Lifesciences Corp has a twelve month low of $92.90 and a twelve month high of $143.22. The company has a quick ratio of 1.41, a current ratio of 1.80 and a debt-to-equity ratio of 0.15. The company has a market cap of $29,142.89, a P/E ratio of 36.19, a PEG ratio of 2.03 and a beta of 0.58.
Edwards Lifesciences (NYSE:EW) last issued its earnings results 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 for the quarter, compared to analysts’ expectations of $868.45 million. During the same quarter last year, the company posted $0.75 earnings per share. The firm’s quarterly revenue was up 15.7% on a year-over-year basis. sell-side analysts anticipate that Edwards Lifesciences Corp will post 4.52 EPS for the current fiscal year.
In other news, VP Donald E. Bobo, Jr. sold 5,300 shares of Edwards Lifesciences 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 transaction, the vice president now owns 24,908 shares in the company, valued at approximately $3,169,293.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction, the vice president now owns 116,148 shares in the company, valued at approximately $14,053,908. The disclosure for this sale can be found here. Insiders sold 191,603 shares of company stock worth $25,589,717 in the last 90 days. 2.13% of the stock is currently owned by corporate insiders.
EW has been the subject of a number of research reports. Cowen set a $135.00 price target on shares of Edwards Lifesciences and gave the stock a “buy” rating in a research note on Sunday, December 10th. Evercore ISI initiated coverage on shares of Edwards Lifesciences in a research note on Wednesday, January 3rd. They issued an “outperform” rating and a $140.00 price target for the company. Barclays raised shares of Edwards Lifesciences from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $125.00 to $135.00 in a research note on Thursday, January 4th. Morgan Stanley raised their target price on shares of Edwards Lifesciences from $130.00 to $138.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Finally, JPMorgan Chase downgraded shares of Edwards Lifesciences from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 2nd. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $144.16.
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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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