Cigna Investments Inc. New Takes Position in Edwards Lifesciences Corporation (NYSE:EW)

Cigna Investments Inc. New purchased a new stake in Edwards Lifesciences Corporation (NYSE:EW) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 8,208 shares of the medical research company’s stock, valued at approximately $971,000.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Edwards Lifesciences Corporation by 2.5% in the first quarter. Vanguard Group Inc. now owns 20,341,668 shares of the medical research company’s stock valued at $1,913,541,000 after buying an additional 505,725 shares in the last quarter. BlackRock Inc. increased its position in Edwards Lifesciences Corporation by 2,184.9% in the first quarter. BlackRock Inc. now owns 14,003,695 shares of the medical research company’s stock valued at $1,317,326,000 after buying an additional 13,390,818 shares in the last quarter. State Street Corp increased its position in Edwards Lifesciences Corporation by 1.7% in the first quarter. State Street Corp now owns 9,388,994 shares of the medical research company’s stock valued at $883,219,000 after buying an additional 157,844 shares in the last quarter. Alliancebernstein L.P. increased its position in Edwards Lifesciences Corporation by 29.8% in the first quarter. Alliancebernstein L.P. now owns 6,366,425 shares of the medical research company’s stock valued at $598,890,000 after buying an additional 1,459,921 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in Edwards Lifesciences Corporation by 17.4% in the first quarter. Ameriprise Financial Inc. now owns 5,737,459 shares of the medical research company’s stock valued at $539,685,000 after buying an additional 850,168 shares in the last quarter. 84.15% of the stock is owned by hedge funds and other institutional investors.

Shares of Edwards Lifesciences Corporation (NYSE:EW) opened at 114.13 on Friday. Edwards Lifesciences Corporation has a 52 week low of $81.12 and a 52 week high of $121.75. The firm has a 50-day moving average price of $117.06 and a 200-day moving average price of $105.21. The stock has a market cap of $24.10 billion, a price-to-earnings ratio of 34.62 and a beta of 0.63.

Edwards Lifesciences Corporation (NYSE:EW) last released its quarterly earnings data on Wednesday, July 26th. The medical research company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.20. Edwards Lifesciences Corporation had a net margin of 22.16% and a return on equity of 27.17%. The company had revenue of $842 million during the quarter, compared to analysts’ expectations of $839.16 million. During the same quarter in the previous year, the company earned $0.76 earnings per share. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. On average, equities analysts anticipate that Edwards Lifesciences Corporation will post $3.78 earnings per share for the current year.

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Several research analysts have recently commented on EW shares. Jefferies Group LLC reiterated a “buy” rating on shares of Edwards Lifesciences Corporation in a report on Wednesday, April 26th. Vetr downgraded Edwards Lifesciences Corporation from a “strong-buy” rating to a “buy” rating and set a $124.67 price objective on the stock. in a report on Monday, May 15th. Royal Bank Of Canada reiterated a “buy” rating on shares of Edwards Lifesciences Corporation in a report on Tuesday, May 30th. Bank of America Corporation lifted their price objective on Edwards Lifesciences Corporation from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, May 30th. Finally, Zacks Investment Research upgraded Edwards Lifesciences Corporation from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a report on Monday, May 22nd. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $121.13.

In other news, VP Donald E. Bobo, Jr. sold 5,600 shares of the business’s stock in a transaction dated Thursday, June 29th. The shares were sold at an average price of $117.15, for a total transaction of $656,040.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Patrick B. Verguet sold 22,631 shares of the business’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $113.16, for a total transaction of $2,560,923.96. The disclosure for this sale can be found here. Insiders sold 183,412 shares of company stock valued at $21,176,230 in the last ninety days. 2.13% of the stock is owned by corporate insiders.

Edwards Lifesciences Corporation Company Profile

Edwards Lifesciences Corporation is a manufacturer of heart valve systems and repair products used to replace or repair a patient’s diseased or defective heart valve. The Company is engaged in patient-focused innovations for structural heart disease and critical care monitoring. Its segments include United States, Europe, Japan and Rest of World.

Institutional Ownership by Quarter for Edwards Lifesciences Corporation (NYSE:EW)

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