Park Avenue Securities LLC lowered its stake in Edwards Lifesciences Corporation (NYSE:EW) by 24.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,227 shares of the medical research company’s stock after selling 720 shares during the period. Park Avenue Securities LLC’s holdings in Edwards Lifesciences Corporation were worth $262,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. Kentucky Retirement Systems acquired a new stake in shares of Edwards Lifesciences Corporation during the fourth quarter valued at $1,454,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Edwards Lifesciences Corporation during the fourth quarter valued at $649,000. Macquarie Group Ltd. increased its stake in shares of Edwards Lifesciences Corporation by 56.9% in the fourth quarter. Macquarie Group Ltd. now owns 149,380 shares of the medical research company’s stock valued at $13,996,000 after buying an additional 54,196 shares during the last quarter. Bath Savings Trust Co acquired a new stake in shares of Edwards Lifesciences Corporation during the first quarter valued at $229,000. Finally, Chevy Chase Trust Holdings Inc. increased its stake in shares of Edwards Lifesciences Corporation by 3.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 187,306 shares of the medical research company’s stock worth $17,620,000 after buying an additional 5,662 shares in the last quarter. 84.15% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Edwards Lifesciences Corporation (NYSE:EW) traded up 0.32% during trading on Friday, hitting $114.50. The stock had a trading volume of 673,804 shares. Edwards Lifesciences Corporation has a 1-year low of $81.12 and a 1-year high of $121.75. The firm has a 50 day moving average of $117.06 and a 200 day moving average of $105.21. The company has a market capitalization of $24.18 billion, a price-to-earnings ratio of 34.73 and a beta of 0.63.
Edwards Lifesciences Corporation (NYSE:EW) last posted its quarterly earnings results on Wednesday, July 26th. The medical research company reported $1.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.20. The firm had revenue of $842 million for the quarter, compared to analyst estimates of $839.16 million. Edwards Lifesciences Corporation had a return on equity of 27.17% and a net margin of 22.16%. The business’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.76 EPS. Analysts expect that Edwards Lifesciences Corporation will post $3.78 EPS for the current fiscal year.
A number of brokerages have commented on EW. BidaskClub downgraded shares of Edwards Lifesciences Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Canaccord Genuity reaffirmed a “buy” rating and issued a $150.00 target price on shares of Edwards Lifesciences Corporation in a research report on Wednesday, June 28th. Zacks Investment Research raised shares of Edwards Lifesciences Corporation from a “hold” rating to a “buy” rating and set a $129.00 target price on the stock in a research report on Thursday, June 1st. Goldman Sachs Group, Inc. (The) started coverage on shares of Edwards Lifesciences Corporation in a research report on Tuesday, May 16th. They issued a “conviction-buy” rating and a $138.00 target price on the stock. Finally, Cowen and Company reiterated an “outperform” rating and set a $135.00 price target (up previously from $130.00) on shares of Edwards Lifesciences Corporation in a research note on Thursday, July 27th. Five analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Edwards Lifesciences Corporation presently has an average rating of “Buy” and an average price target of $121.13.
In related news, CEO Michael A. Mussallem sold 32,900 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $115.99, for a total transaction of $3,816,071.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Catherine M. Szyman sold 4,681 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $115.78, for a total value of $541,966.18. The disclosure for this sale can be found here. Insiders have sold a total of 183,412 shares of company stock worth $21,176,230 in the last ninety days. Insiders own 2.13% of the company’s stock.
About Edwards Lifesciences Corporation
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.
What are top analysts saying about Edwards Lifesciences Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Edwards Lifesciences Corporation and related companies.