McIlrath & Eck LLC decreased its stake in shares of Edwards Lifesciences Corp (NYSE:EW) by 11.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 565 shares of the medical research company’s stock after selling 75 shares during the quarter. McIlrath & Eck LLC’s holdings in Edwards Lifesciences were worth $108,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the stock. Pinnacle Bank bought a new stake in Edwards Lifesciences in the 4th quarter valued at about $65,000. Mackay Shields LLC raised its position in shares of Edwards Lifesciences by 58.8% in the 4th quarter. Mackay Shields LLC now owns 53,020 shares of the medical research company’s stock valued at $8,121,000 after buying an additional 19,624 shares in the last quarter. Gateway Investment Advisers LLC raised its position in shares of Edwards Lifesciences by 1,161.8% in the 4th quarter. Gateway Investment Advisers LLC now owns 121,640 shares of the medical research company’s stock valued at $18,632,000 after buying an additional 112,000 shares in the last quarter. Cetera Advisor Networks LLC raised its position in shares of Edwards Lifesciences by 3.8% in the 4th quarter. Cetera Advisor Networks LLC now owns 1,573 shares of the medical research company’s stock valued at $242,000 after buying an additional 57 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new position in shares of Edwards Lifesciences in the 1st quarter valued at approximately $843,000. 84.43% of the stock is owned by institutional investors and hedge funds.
NYSE EW traded down $0.47 on Wednesday, hitting $178.42. The company’s stock had a trading volume of 14,223 shares, compared to its average volume of 1,307,004. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.69 and a current ratio of 3.66. Edwards Lifesciences Corp has a 1-year low of $134.38 and a 1-year high of $197.86. The stock has a market cap of $37.20 billion, a P/E ratio of 37.96, a price-to-earnings-growth ratio of 2.28 and a beta of 0.85.
Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Tuesday, April 23rd. The medical research company reported $1.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.23 by $0.09. Edwards Lifesciences had a net margin of 20.03% and a return on equity of 31.16%. The firm had revenue of $993.00 million during the quarter, compared to analysts’ expectations of $989.87 million. During the same period in the prior year, the company posted $1.22 EPS. The company’s revenue was up 11.0% on a year-over-year basis. Analysts predict that Edwards Lifesciences Corp will post 5.28 earnings per share for the current fiscal year.
In other news, VP Catherine M. Szyman sold 1,474 shares of the company’s stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $176.34, for a total value of $259,925.16. Following the sale, the vice president now directly owns 15,905 shares of the company’s stock, valued at approximately $2,804,687.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Larry L. Wood sold 6,716 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $170.82, for a total transaction of $1,147,227.12. Following the completion of the sale, the vice president now directly owns 122,366 shares in the company, valued at $20,902,560.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 146,937 shares of company stock valued at $25,927,332. Corporate insiders own 1.63% of the company’s stock.
Several equities analysts have recently commented on EW shares. Bank of America upgraded shares of Edwards Lifesciences from a “neutral” rating to a “buy” rating and boosted their target price for the company from $180.00 to $190.00 in a research report on Friday, January 18th. Raymond James dropped their target price on shares of Edwards Lifesciences from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, April 24th. Barclays boosted their target price on shares of Edwards Lifesciences from $150.00 to $160.00 and gave the company an “underweight” rating in a research report on Monday, March 25th. Morgan Stanley boosted their target price on shares of Edwards Lifesciences from $180.00 to $197.00 and gave the company an “overweight” rating in a research report on Monday, March 18th. Finally, UBS Group boosted their target price on shares of Edwards Lifesciences from $175.00 to $180.00 and gave the company a “neutral” rating in a research report on Tuesday, March 12th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $187.00.
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Edwards Lifesciences Company Profile
Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States and internationally. It offers transcatheter heart valve therapy products comprising transcatheter aortic valve replacement, and transcatheter mitral and tricuspid therapies for the nonsurgical replacement of heart valves.
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