Carnegie Capital Asset Management LLC reduced its stake in shares of Edwards Lifesciences Corp (NYSE:EW) by 8.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,695 shares of the medical research company’s stock after selling 153 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Edwards Lifesciences were worth $320,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the company. Princeton Global Asset Management LLC bought a new stake in shares of Edwards Lifesciences in the fourth quarter worth about $26,000. Savior LLC bought a new stake in shares of Edwards Lifesciences in the fourth quarter worth about $27,000. Evolution Wealth Advisors LLC grew its stake in shares of Edwards Lifesciences by 990.9% in the fourth quarter. Evolution Wealth Advisors LLC now owns 120 shares of the medical research company’s stock worth $28,000 after purchasing an additional 109 shares during the last quarter. 1776 Wealth LLC grew its stake in shares of Edwards Lifesciences by 97.6% in the first quarter. 1776 Wealth LLC now owns 162 shares of the medical research company’s stock worth $30,000 after purchasing an additional 80 shares during the last quarter. Finally, Sugarloaf Wealth Management LLC bought a new stake in shares of Edwards Lifesciences in the fourth quarter worth about $47,000. 81.22% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP Larry L. Wood sold 3,566 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $207.00, for a total value of $738,162.00. Following the completion of the transaction, the vice president now directly owns 120,995 shares in the company, valued at approximately $25,045,965. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael A. Mussallem sold 22,850 shares of the business’s stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $202.34, for a total transaction of $4,623,469.00. Following the completion of the transaction, the chief executive officer now owns 69,976 shares of the company’s stock, valued at $14,158,943.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 95,878 shares of company stock valued at $20,047,408. 1.48% of the stock is owned by company insiders.
Several analysts recently issued reports on the company. Morgan Stanley raised their target price on Edwards Lifesciences from $241.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. Goldman Sachs Group assumed coverage on Edwards Lifesciences in a research note on Wednesday, February 12th. They issued a “neutral” rating and a $253.00 target price on the stock. Cfra raised their target price on Edwards Lifesciences from $201.00 to $231.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Canaccord Genuity restated a “buy” rating on shares of Edwards Lifesciences in a report on Friday, April 24th. Finally, Stifel Nicolaus raised their price objective on shares of Edwards Lifesciences from $230.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, April 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company’s stock. Edwards Lifesciences currently has a consensus rating of “Buy” and a consensus target price of $247.52.
EW stock opened at $218.81 on Friday. The firm has a 50 day moving average price of $212.94 and a 200-day moving average price of $222.43. Edwards Lifesciences Corp has a 52-week low of $154.52 and a 52-week high of $247.64. The firm has a market capitalization of $45.13 billion, a price-to-earnings ratio of 41.84, a PEG ratio of 2.75 and a beta of 0.85. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.47 and a current ratio of 3.36.
Edwards Lifesciences (NYSE:EW) last released its earnings results on Thursday, April 23rd. The medical research company reported $1.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.22. Edwards Lifesciences had a net margin of 24.71% and a return on equity of 31.83%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the business earned $1.32 earnings per share. The business’s revenue was up 13.7% on a year-over-year basis. As a group, sell-side analysts forecast that Edwards Lifesciences Corp will post 4.95 earnings per share for the current fiscal year.
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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