Park Avenue Securities LLC Cuts Stake in Edwards Lifesciences Corporation (NYSE:EW)

Park Avenue Securities LLC decreased its position in shares of Edwards Lifesciences Corporation (NYSE:EW) by 24.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm 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 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alexandria Capital LLC boosted its stake in shares of Edwards Lifesciences Corporation by 1.7% in the second quarter. Alexandria Capital LLC now owns 1,146 shares of the medical research company’s stock valued at $136,000 after buying an additional 19 shares during the last quarter. FineMark National Bank & Trust increased its stake in Edwards Lifesciences Corporation by 1.7% in the second quarter. FineMark National Bank & Trust now owns 26,833 shares of the medical research company’s stock worth $3,173,000 after buying an additional 441 shares during the period. Cornerstone Advisors Inc. increased its stake in Edwards Lifesciences Corporation by 25.1% in the second quarter. Cornerstone Advisors Inc. now owns 1,092 shares of the medical research company’s stock worth $129,000 after buying an additional 219 shares during the period. CMH Wealth Management LLC purchased a new position in shares of Edwards Lifesciences Corporation during the second quarter valued at approximately $1,761,000. Finally, Wellington Shields Capital Management LLC increased its position in shares of Edwards Lifesciences Corporation by 124.1% in the second quarter. Wellington Shields Capital Management LLC now owns 48,840 shares of the medical research company’s stock valued at $5,775,000 after buying an additional 27,050 shares during the last quarter. Institutional investors own 84.67% of the company’s stock.

Shares of Edwards Lifesciences Corporation (NYSE EW) traded down 0.41% during mid-day trading on Friday, hitting $113.11. 1,134,626 shares of the stock traded hands. The stock has a market cap of $23.88 billion, a PE ratio of 34.31 and a beta of 0.63. Edwards Lifesciences Corporation has a one year low of $81.12 and a one year high of $121.75. The stock has a 50-day moving average of $116.42 and a 200 day moving average of $106.02.

Edwards Lifesciences Corporation (NYSE:EW) last announced its quarterly earnings results on Wednesday, July 26th. The medical research company reported $1.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.20. The business had revenue of $842 million during 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 firm’s revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.76 EPS. Equities analysts predict that Edwards Lifesciences Corporation will post $3.78 EPS for the current fiscal year.

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Several equities analysts recently commented on EW shares. Vetr downgraded shares of Edwards Lifesciences Corporation from a “strong-buy” rating to a “buy” rating and set a $124.67 price target on the stock. in a report on Monday, May 15th. Zacks Investment Research upgraded shares of Edwards Lifesciences Corporation from a “hold” rating to a “buy” rating and set a $125.00 target price on the stock in a research note on Monday, May 22nd. 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 price target for the company. Canaccord Genuity reaffirmed a “buy” rating and issued a $150.00 price target on shares of Edwards Lifesciences Corporation in a research report on Wednesday, June 28th. Finally, Barclays PLC upped their price target on shares of Edwards Lifesciences Corporation from $108.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 27th. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $121.13.

In other Edwards Lifesciences Corporation news, VP Catherine M. Szyman sold 4,681 shares of Edwards Lifesciences Corporation stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $115.78, for a total value of $541,966.18. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Donald E. Bobo, Jr. sold 5,600 shares of Edwards Lifesciences Corporation stock in a transaction that occurred on Thursday, June 29th. The stock was sold at an average price of $117.15, for a total value of $656,040.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 149,281 shares of company stock valued at $17,331,446. 2.13% of the stock is owned by corporate insiders.

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.

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

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