Sequoia Financial Advisors LLC lifted its holdings in Edwards Lifesciences Corp (NYSE:EW) by 41.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,970 shares of the medical research company’s stock after purchasing an additional 578 shares during the period. Sequoia Financial Advisors LLC’s holdings in Edwards Lifesciences were worth $364,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. FTB Advisors Inc. acquired a new stake in Edwards Lifesciences in the 1st quarter worth about $25,000. Evolution Wealth Advisors LLC acquired a new stake in Edwards Lifesciences in the 2nd quarter worth about $29,000. M&R Capital Management Inc. acquired a new stake in Edwards Lifesciences in the 2nd quarter worth about $29,000. Field & Main Bank acquired a new stake in Edwards Lifesciences in the 1st quarter worth about $34,000. Finally, WP Advisors LLC acquired a new stake in Edwards Lifesciences in the 1st quarter worth about $35,000. Hedge funds and other institutional investors own 82.43% of the company’s stock.
In related news, VP Catherine M. Szyman sold 1,152 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $191.70, for a total value of $220,838.40. Following the transaction, the vice president now directly owns 19,162 shares in the company, valued at $3,673,355.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Donald E. Bobo, Jr. sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $169.60, for a total value of $508,800.00. Following the completion of the transaction, the vice president now owns 20,674 shares in the company, valued at $3,506,310.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 142,948 shares of company stock worth $27,936,332. Insiders own 1.63% of the company’s stock.
Several equities research analysts recently issued reports on the company. Zacks Investment Research upgraded Edwards Lifesciences from a “hold” rating to a “buy” rating and set a $232.00 price objective on the stock in a report on Thursday, July 25th. Citigroup set a $159.00 price objective on Edwards Lifesciences and gave the stock a “sell” rating in a report on Friday, July 26th. Barclays lifted their price objective on Edwards Lifesciences from $160.00 to $175.00 and gave the stock an “underweight” rating in a report on Wednesday, July 24th. Jefferies Financial Group lifted their price objective on Edwards Lifesciences from $210.00 to $245.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, BTIG Research reiterated a “hold” rating on shares of Edwards Lifesciences in a report on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $204.74.
Shares of Edwards Lifesciences stock traded down $2.20 on Wednesday, hitting $217.02. 109,795 shares of the company were exchanged, compared to its average volume of 1,292,664. The stock has a market cap of $45.20 billion, a PE ratio of 46.17, a price-to-earnings-growth ratio of 2.74 and a beta of 0.87. The stock’s 50-day moving average is $200.19. Edwards Lifesciences Corp has a 1-year low of $134.53 and a 1-year high of $219.71. The company has a quick ratio of 2.48, a current ratio of 3.38 and a debt-to-equity ratio of 0.18.
Edwards Lifesciences (NYSE:EW) last issued its earnings results on Tuesday, July 23rd. The medical research company reported $1.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.05. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Edwards Lifesciences had a return on equity of 31.25% and a net margin of 18.29%. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.24 EPS. As a group, sell-side analysts predict that Edwards Lifesciences Corp will post 5.34 earnings per share for the current fiscal year.
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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