TIAA CREF Investment Management LLC reduced its stake in Edwards Lifesciences Corp (NYSE:EW) by 3.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,264,667 shares of the medical research company’s stock after selling 41,533 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.60% of Edwards Lifesciences worth $142,541,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Edwards Lifesciences by 2.2% in the 4th quarter. BlackRock Inc. now owns 15,410,737 shares of the medical research company’s stock worth $1,736,943,000 after buying an additional 331,896 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Edwards Lifesciences by 45.7% in the 4th 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. Alliancebernstein L.P. increased its holdings in shares of Edwards Lifesciences by 12.1% in the 4th quarter. Alliancebernstein L.P. now owns 6,259,771 shares of the medical research company’s stock worth $705,539,000 after buying an additional 675,216 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Edwards Lifesciences by 20.2% in the 3rd 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. Finally, Geode Capital Management LLC increased its holdings in shares of Edwards Lifesciences by 4.0% in the 4th quarter. Geode Capital Management LLC now owns 2,402,209 shares of the medical research company’s stock worth $270,220,000 after buying an additional 93,049 shares during the last quarter. Institutional investors own 82.90% of the company’s stock.
A number of equities analysts recently commented on EW shares. Cowen set a $135.00 price objective on shares of Edwards Lifesciences and gave the company a “buy” rating in a research report on Sunday, December 10th. JPMorgan Chase cut shares of Edwards Lifesciences from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 2nd. Evercore ISI began coverage on shares of Edwards Lifesciences in a research report 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 upped their price target for the stock from $125.00 to $135.00 in a research report on Thursday, January 4th. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $150.00 price target on shares of Edwards Lifesciences in a research report on Wednesday, January 31st. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Edwards Lifesciences has a consensus rating of “Buy” and a consensus price target of $144.16.
Edwards Lifesciences stock traded down $3.40 during mid-day trading on Friday, reaching $137.51. 1,776,081 shares of the company traded hands, compared to its average volume of 1,296,813. 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 fifty-two week low of $92.90 and a fifty-two week high of $143.22. The firm has a market capitalization of $28,880.40, a price-to-earnings ratio of 36.19, a PEG ratio of 2.02 and a beta of 0.58.
Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Thursday, February 1st. The medical research company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.91 by $0.03. The business had revenue of $888.50 million for the quarter, compared to the consensus estimate of $868.45 million. Edwards Lifesciences had a net margin of 18.11% and a return on equity of 27.78%. The business’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.75 EPS. sell-side analysts predict that Edwards Lifesciences Corp will post 4.52 EPS for the current fiscal year.
In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,300 shares of the 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 directly owns 24,908 shares of the company’s stock, valued at $3,169,293.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Scott B. Ullem sold 25,000 shares of the stock in a transaction on Wednesday, April 4th. The shares were sold at an average price of $137.17, for a total transaction of $3,429,250.00. Following the transaction, the chief financial officer now directly owns 35,968 shares in the company, valued at $4,933,730.56. The disclosure for this sale can be found here. Insiders have sold 191,603 shares of company stock worth $25,589,717 over the last three months. 2.13% of the stock is currently owned by insiders.
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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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