SeaCrest Wealth Management LLC Buys New Position in Edwards Lifesciences Corp (EW)

SeaCrest Wealth Management LLC bought a new stake in Edwards Lifesciences Corp (NYSE:EW) in the 4th quarter, Holdings Channel reports. The firm bought 3,668 shares of the medical research company’s stock, valued at approximately $413,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Advisory Services Network LLC lifted its stake in shares of Edwards Lifesciences by 0.9% in the 2nd quarter. Advisory Services Network LLC now owns 12,565 shares of the medical research company’s stock valued at $1,486,000 after purchasing an additional 112 shares during the period. Kingfisher Capital LLC lifted its stake in shares of Edwards Lifesciences by 1.9% in the 2nd quarter. Kingfisher Capital LLC now owns 8,454 shares of the medical research company’s stock valued at $1,000,000 after purchasing an additional 159 shares during the period. Resources Investment Advisors Inc. lifted its stake in shares of 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 purchasing an additional 465 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Edwards Lifesciences by 10.4% in the 3rd quarter. Pacer Advisors Inc. now owns 5,312 shares of the medical research company’s stock valued at $581,000 after purchasing an additional 499 shares during the period. Finally, Rodgers Brothers Inc. lifted its stake in shares of Edwards Lifesciences by 1.5% in the 3rd quarter. Rodgers Brothers Inc. now owns 34,250 shares of the medical research company’s stock valued at $3,744,000 after purchasing an additional 500 shares during the period. Hedge funds and other institutional investors own 81.52% of the company’s stock.

In other news, VP Donald E. Bobo, Jr. sold 5,300 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $127.24, for a total transaction of $674,372.00. Following the completion of the sale, the vice president now owns 24,908 shares of the company’s stock, valued at $3,169,293.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Larry L. Wood sold 18,960 shares of the company’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $104.76, for a total transaction of $1,986,249.60. The disclosure for this sale can be found here. In the last three months, insiders sold 175,940 shares of company stock valued at $20,049,578. 2.13% of the stock is owned by insiders.

EW has been the subject of several analyst reports. Cowen reiterated a “buy” rating and issued a $135.00 target price on shares of Edwards Lifesciences in a research note on Thursday, October 12th. Canaccord Genuity reiterated a “buy” rating and issued a $135.00 target price (down from $155.00) on shares of Edwards Lifesciences in a research note on Wednesday, October 25th. SunTrust Banks set a $124.00 target price on shares of Edwards Lifesciences and gave the company a “buy” rating in a research note on Wednesday, October 25th. Barclays decreased their target price on shares of Edwards Lifesciences from $120.00 to $118.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 25th. Finally, Morgan Stanley decreased their target price on shares of Edwards Lifesciences from $133.00 to $120.00 and set an “overweight” rating for the company in a research note on Thursday, October 26th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $139.25.

Shares of Edwards Lifesciences Corp (EW) opened at $129.70 on Thursday. The company has a market cap of $26,892.66, a price-to-earnings ratio of 45.03, a P/E/G ratio of 1.88 and a beta of 0.63. The company has a quick ratio of 1.41, a current ratio of 1.81 and a debt-to-equity ratio of 0.15. Edwards Lifesciences Corp has a 1-year low of $89.20 and a 1-year high of $138.48.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Thursday, February 1st. The medical research company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.91 by $0.03. The company had revenue of $888.50 million during the quarter, compared to analyst estimates of $868.45 million. Edwards Lifesciences had a net margin of 18.11% and a return on equity of 27.69%. The firm’s revenue was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.75 EPS. analysts expect that Edwards Lifesciences Corp will post 4.49 earnings per share for the current year.

Edwards Lifesciences announced that its board has initiated a share buyback program on Thursday, December 7th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the medical research company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

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

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