Newport Wealth Strategies Inc. purchased a new position in shares of Edwards Lifesciences Corp (NYSE:EW) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,806 shares of the medical research company’s stock, valued at approximately $482,000.
Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings 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 worth $1,736,943,000 after purchasing an additional 331,896 shares during the period. Bank of New York Mellon Corp boosted its holdings in Edwards Lifesciences by 45.7% in 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. Alliancebernstein L.P. boosted its holdings in Edwards Lifesciences by 12.1% in 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. Wells Fargo & Company MN boosted its holdings in Edwards Lifesciences by 20.2% in 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 purchasing an additional 429,022 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Edwards Lifesciences by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 2,402,209 shares of the medical research company’s stock worth $270,220,000 after purchasing an additional 93,049 shares during the period. 82.90% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE EW traded down $3.40 during midday trading on Friday, reaching $137.51. 1,776,081 shares of the company traded hands, compared to its average volume of 1,296,813. Edwards Lifesciences Corp has a 52 week low of $92.90 and a 52 week 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 stock has a market cap of $29,594.44, a P/E ratio of 36.19, a P/E/G ratio of 2.07 and a beta of 0.58.
Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings data on Thursday, February 1st. The medical research company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.03. Edwards Lifesciences had a net margin of 18.11% and a return on equity of 27.78%. The business had revenue of $888.50 million for the quarter, compared to analysts’ expectations of $868.45 million. During the same period in the previous year, the business earned $0.75 earnings per share. The company’s revenue was up 15.7% on a year-over-year basis. sell-side analysts anticipate that Edwards Lifesciences Corp will post 4.52 earnings per share for the current fiscal year.
In other Edwards Lifesciences news, CEO Michael A. Mussallem sold 32,800 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $126.69, for a total value of $4,155,432.00. Following the sale, the chief executive officer now directly owns 74,131 shares in the company, valued at $9,391,656.39. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 3,750 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $127.54, for a total transaction of $478,275.00. Following the completion of the sale, the vice president now owns 19,608 shares in the company, valued at $2,500,804.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 191,603 shares of company stock worth $25,589,717. Company insiders own 2.13% of the company’s stock.
A number of research firms have commented on EW. Cowen reaffirmed a “buy” rating and issued a $165.00 price objective on shares of Edwards Lifesciences in a report on Tuesday, March 20th. Zacks Investment Research downgraded shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a report on Wednesday. Barclays lifted their price objective on shares of Edwards Lifesciences from $135.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Morgan Stanley boosted their price target 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. Finally, JMP Securities boosted their price target on shares of Edwards Lifesciences from $135.00 to $140.00 and gave the company a “market outperform” rating in a report on Friday, February 2nd. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price 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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