Mitsubishi UFJ Securities Holdings Co. Ltd. reduced its position in Edwards Lifesciences Corp (NYSE:EW) by 23.0% in the first quarter, HoldingsChannel.com reports. The fund owned 470 shares of the medical research company’s stock after selling 140 shares during the quarter. Mitsubishi UFJ Securities Holdings Co. Ltd.’s holdings in Edwards Lifesciences were worth $90,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. FTB Advisors Inc. bought a new stake in Edwards Lifesciences during the first quarter valued at approximately $25,000. Executive Wealth Management LLC bought a new stake in Edwards Lifesciences during the fourth quarter valued at approximately $25,000. Sontag Advisory LLC bought a new stake in Edwards Lifesciences during the fourth quarter valued at approximately $26,000. Field & Main Bank bought a new stake in Edwards Lifesciences during the first quarter valued at approximately $34,000. Finally, Lindbrook Capital LLC bought a new stake in Edwards Lifesciences during the fourth quarter valued at approximately $27,000. Institutional investors own 82.12% of the company’s stock.
Shares of EW stock traded down $0.91 during trading hours on Wednesday, hitting $184.69. 34,052 shares of the company’s stock were exchanged, compared to its average volume of 1,272,425. The company has a market capitalization of $38.07 billion, a PE ratio of 39.29, a price-to-earnings-growth ratio of 2.35 and a beta of 0.85. Edwards Lifesciences Corp has a 12-month low of $134.53 and a 12-month high of $197.86. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.69 and a current ratio of 3.66.
Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Tuesday, April 23rd. The medical research company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.23 by $0.09. The firm had revenue of $993.00 million for the quarter, compared to the consensus estimate of $989.87 million. Edwards Lifesciences had a net margin of 20.03% and a return on equity of 31.16%. The business’s revenue was up 11.0% compared to the same quarter last year. During the same period last year, the firm posted $1.22 earnings per share. On average, research analysts predict that Edwards Lifesciences Corp will post 5.29 EPS for the current year.
In related news, VP Huimin Wang sold 4,650 shares of Edwards Lifesciences stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $175.50, for a total value of $816,075.00. Following the transaction, the vice president now directly owns 36,823 shares of the company’s stock, valued at $6,462,436.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Catherine M. Szyman sold 1,146 shares of Edwards Lifesciences stock in a transaction on Friday, March 15th. The stock was sold at an average price of $179.10, for a total transaction of $205,248.60. Following the completion of the transaction, the vice president now directly owns 22,229 shares in the company, valued at $3,981,213.90. The disclosure for this sale can be found here. Insiders have sold 121,656 shares of company stock worth $21,713,940 over the last three months. Insiders own 1.63% of the company’s stock.
Several brokerages have issued reports on EW. Morgan Stanley lifted 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. BMO Capital Markets lifted their target price on shares of Edwards Lifesciences to $204.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Credit Suisse Group lifted their target price on shares of Edwards Lifesciences from $189.00 to $221.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Barclays lifted 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. Finally, JPMorgan Chase & Co. lifted their target price on shares of Edwards Lifesciences from $175.00 to $190.00 and gave the company a “neutral” rating in a research report on Wednesday, March 27th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the company. Edwards Lifesciences currently has a consensus rating of “Buy” and a consensus target price of $186.52.
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Edwards Lifesciences 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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