Beck Bode LLC lowered its position in Edwards Lifesciences Corp (NYSE:EW) by 0.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 66,850 shares of the medical research company’s stock after selling 474 shares during the quarter. Edwards Lifesciences makes up about 6.5% of Beck Bode LLC’s holdings, making the stock its biggest holding. Beck Bode LLC’s holdings in Edwards Lifesciences were worth $14,701,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Nuveen Asset Management LLC boosted its stake in Edwards Lifesciences by 8,278.5% in the 2nd quarter. Nuveen Asset Management LLC now owns 3,951,568 shares of the medical research company’s stock worth $730,013,000 after purchasing an additional 3,904,405 shares during the period. Marshall Wace North America L.P. lifted its position in Edwards Lifesciences by 394.9% in the second quarter. Marshall Wace North America L.P. now owns 364,492 shares of the medical research company’s stock worth $67,336,000 after purchasing an additional 290,838 shares during the period. Jennison Associates LLC boosted its stake in Edwards Lifesciences by 4.8% during the second quarter. Jennison Associates LLC now owns 6,039,006 shares of the medical research company’s stock worth $1,115,646,000 after buying an additional 275,182 shares in the last quarter. Invesco Ltd. boosted its stake in Edwards Lifesciences by 16.1% during the second quarter. Invesco Ltd. now owns 1,094,610 shares of the medical research company’s stock worth $202,218,000 after buying an additional 151,686 shares in the last quarter. Finally, Morgan Stanley increased its holdings in Edwards Lifesciences by 16.3% in the 2nd quarter. Morgan Stanley now owns 1,003,510 shares of the medical research company’s stock valued at $185,387,000 after buying an additional 140,533 shares during the period. Institutional investors own 80.87% of the company’s stock.
Shares of NYSE:EW traded up $1.57 during trading on Tuesday, reaching $244.42. The stock had a trading volume of 246,786 shares, compared to its average volume of 905,825. The stock has a market capitalization of $51.09 billion, a PE ratio of 52.00, a P/E/G ratio of 2.96 and a beta of 0.80. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.53 and a quick ratio of 2.74. Edwards Lifesciences Corp has a 52 week low of $139.64 and a 52 week high of $247.64. The business’s 50-day moving average price is $236.44 and its 200 day moving average price is $210.72.
Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $1.41 EPS for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.19. Edwards Lifesciences had a return on equity of 32.28% and a net margin of 18.64%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the company earned $1.07 EPS. Edwards Lifesciences’s revenue for the quarter was up 20.7% on a year-over-year basis. Analysts forecast that Edwards Lifesciences Corp will post 5.6 EPS for the current year.
In other Edwards Lifesciences news, VP Huimin Wang sold 4,650 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $222.06, for a total value of $1,032,579.00. Following the completion of the transaction, the vice president now directly owns 36,898 shares of the company’s stock, valued at $8,193,569.88. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael A. Mussallem sold 22,850 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $242.38, for a total transaction of $5,538,383.00. In the last three months, insiders sold 131,301 shares of company stock worth $30,331,718. Insiders own 1.63% of the company’s stock.
EW has been the subject of a number of recent research reports. Piper Jaffray Companies increased their price objective on shares of Edwards Lifesciences from $240.00 to $255.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Canaccord Genuity upped their target price on shares of Edwards Lifesciences from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Royal Bank of Canada upped their target price on shares of Edwards Lifesciences from $217.00 to $250.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Credit Suisse Group raised their price target on shares of Edwards Lifesciences from $226.00 to $261.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Wells Fargo & Co lifted their price objective on Edwards Lifesciences from $250.00 to $262.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $231.94.
About Edwards Lifesciences
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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