Steinberg Global Asset Management purchased a new stake in Edwards Lifesciences Corp (NYSE:EW) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,200 shares of the medical research company’s stock, valued at approximately $209,000.
Several other hedge funds also recently modified their holdings of EW. Principal Financial Group Inc. increased its stake in shares of Edwards Lifesciences by 5.4% in the first quarter. Principal Financial Group Inc. now owns 461,654 shares of the medical research company’s stock valued at $64,409,000 after buying an additional 23,652 shares during the period. Bath Savings Trust Co increased its stake in shares of Edwards Lifesciences by 3.6% in the second quarter. Bath Savings Trust Co now owns 22,658 shares of the medical research company’s stock valued at $3,298,000 after buying an additional 790 shares during the period. DnB Asset Management AS increased its stake in shares of Edwards Lifesciences by 5.9% in the second quarter. DnB Asset Management AS now owns 26,746 shares of the medical research company’s stock valued at $3,893,000 after buying an additional 1,500 shares during the period. IFM Investors Pty Ltd increased its stake in shares of Edwards Lifesciences by 45.8% in the second quarter. IFM Investors Pty Ltd now owns 9,505 shares of the medical research company’s stock valued at $1,384,000 after buying an additional 2,987 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Edwards Lifesciences by 6.4% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 9,980 shares of the medical research company’s stock valued at $1,453,000 after buying an additional 600 shares during the period. 82.63% of the stock is owned by institutional investors.
EW stock opened at $151.48 on Friday. Edwards Lifesciences Corp has a twelve month low of $100.85 and a twelve month high of $175.00. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.85 and a current ratio of 2.31. The company has a market capitalization of $29.80 billion, a PE ratio of 39.86, a P/E/G ratio of 1.87 and a beta of 0.57.
Edwards Lifesciences (NYSE:EW) last posted its earnings results on Tuesday, October 23rd. The medical research company reported $1.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.05. Edwards Lifesciences had a return on equity of 30.11% and a net margin of 20.67%. The company had revenue of $906.60 million for the quarter, compared to analyst estimates of $927.56 million. During the same quarter last year, the company earned $0.84 earnings per share. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. Equities research analysts anticipate that Edwards Lifesciences Corp will post 4.69 EPS for the current fiscal year.
Several equities research analysts recently commented on the company. BMO Capital Markets upped their target price on Edwards Lifesciences to $162.00 and gave the company an “outperform” rating in a research report on Tuesday, July 10th. Zacks Investment Research upgraded Edwards Lifesciences from a “hold” rating to a “buy” rating and set a $165.00 target price on the stock in a research report on Saturday, July 14th. Northland Securities restated a “hold” rating and set a $120.00 target price on shares of Edwards Lifesciences in a research report on Friday, July 27th. Jefferies Financial Group restated a “buy” rating and set a $168.00 target price on shares of Edwards Lifesciences in a research report on Friday, July 27th. Finally, JPMorgan Chase & Co. upped their target price on Edwards Lifesciences from $133.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, July 27th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. Edwards Lifesciences currently has a consensus rating of “Buy” and a consensus price target of $156.79.
In other news, VP Huimin Wang sold 3,800 shares of the firm’s stock in a transaction that occurred on Friday, October 5th. The stock was sold at an average price of $152.79, for a total value of $580,602.00. Following the transaction, the vice president now owns 81,665 shares in the company, valued at $12,477,595.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael A. Mussallem sold 32,900 shares of the firm’s stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $142.37, for a total value of $4,683,973.00. Following the completion of the transaction, the chief executive officer now owns 76,026 shares in the company, valued at approximately $10,823,821.62. The disclosure for this sale can be found here. Insiders sold 153,211 shares of company stock worth $21,869,337 in the last 90 days. Corporate insiders own 1.84% of the company’s stock.
Edwards Lifesciences Company Profile
Edwards Lifesciences Corporation provides products and technologies to treat structural heart disease and critically ill patients in the United States and internationally. It offers transcatheter heart valve therapy products comprising transcatheter aortic heart valves and related delivery systems for the nonsurgical replacement of heart valves.
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