First National Bank of Omaha lessened its stake in Edwards Lifesciences Corp (NYSE:EW) by 4.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 45,230 shares of the medical research company’s stock after selling 2,135 shares during the period. First National Bank of Omaha’s holdings in Edwards Lifesciences were worth $5,098,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of EW. Cerebellum GP LLC acquired a new position in Edwards Lifesciences in the 4th quarter valued at about $128,000. Resources Investment Advisors Inc. increased its position in Edwards Lifesciences by 66.0% in the 4th quarter. Resources Investment Advisors Inc. now owns 1,170 shares of the medical research company’s stock valued at $132,000 after acquiring an additional 465 shares during the period. Exane Derivatives increased its position in Edwards Lifesciences by 381.3% in the 4th quarter. Exane Derivatives now owns 1,213 shares of the medical research company’s stock valued at $137,000 after acquiring an additional 961 shares during the period. MPS Loria Financial Planners LLC acquired a new position in Edwards Lifesciences in the 2nd quarter valued at about $140,000. Finally, Dupont Capital Management Corp acquired a new position in Edwards Lifesciences in the 3rd quarter valued at about $142,000. Hedge funds and other institutional investors own 81.52% of the company’s stock.
In related news, VP Robert W.A. Sellers sold 12,020 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $131.03, for a total value of $1,574,980.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,300 shares of the company’s stock in a transaction that occurred on Friday, December 28th. The shares were sold at an average price of $114.08, for a total value of $604,624.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 175,940 shares of company stock worth $20,049,578. 2.13% of the stock is owned by corporate insiders.
Edwards Lifesciences (NYSE:EW) last posted its earnings results on Thursday, February 1st. The medical research company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.03. Edwards Lifesciences had a return on equity of 27.69% and a net margin of 18.11%. The firm had revenue of $888.50 million for the quarter, compared to analyst estimates of $868.45 million. During the same quarter in the prior year, the company earned $0.75 EPS. Edwards Lifesciences’s revenue was up 15.7% on a year-over-year basis. research analysts expect that Edwards Lifesciences Corp will post 4.49 earnings per share for the current fiscal year.
Edwards Lifesciences announced that its board has initiated a share repurchase plan on Thursday, December 7th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.
Several equities analysts have issued reports on the company. JMP Securities boosted their target price on Edwards Lifesciences from $135.00 to $140.00 and gave the stock a “market outperform” rating in a research report on Friday, February 2nd. SunTrust Banks reiterated a “buy” rating and set a $150.00 target price on shares of Edwards Lifesciences in a research report on Wednesday, January 31st. Cowen reiterated a “buy” rating and set a $135.00 target price on shares of Edwards Lifesciences in a research report on Thursday, October 12th. Guggenheim reiterated a “buy” rating and set a $162.00 target price on shares of Edwards Lifesciences in a research report on Friday, February 2nd. Finally, Barclays dropped their target price on Edwards Lifesciences from $120.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 25th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $139.25.
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Edwards Lifesciences 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.
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