First Mercantile Trust Co. acquired a new position in shares of Edwards Lifesciences Corp (NYSE:EW) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 5,793 shares of the medical research company’s stock, valued at approximately $654,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. MUFG Securities EMEA plc purchased a new position in Edwards Lifesciences during the 4th quarter worth approximately $2,254,000. Huntington National Bank grew its position in Edwards Lifesciences by 2,827.7% during the 4th quarter. Huntington National Bank now owns 149,840 shares of the medical research company’s stock worth $16,888,000 after purchasing an additional 144,722 shares in the last quarter. Raymond James Trust N.A. grew its position in Edwards Lifesciences by 10.1% during the 4th quarter. Raymond James Trust N.A. now owns 11,072 shares of the medical research company’s stock worth $1,248,000 after purchasing an additional 1,014 shares in the last quarter. RKL Wealth Management LLC grew its position in Edwards Lifesciences by 8.0% during the 4th quarter. RKL Wealth Management LLC now owns 10,691 shares of the medical research company’s stock worth $1,202,000 after purchasing an additional 788 shares in the last quarter. Finally, Dowling & Yahnke LLC purchased a new position in shares of Edwards Lifesciences during the 4th quarter valued at $218,000. Hedge funds and other institutional investors own 81.52% of the company’s stock.
EW has been the topic of several research analyst reports. SunTrust Banks restated a “buy” rating and set a $150.00 price target on shares of Edwards Lifesciences in a report on Wednesday, January 31st. Cowen set a $135.00 price target on shares of Edwards Lifesciences and gave the company a “buy” rating in a report on Sunday, December 10th. BMO Capital Markets restated a “buy” rating and set a $137.00 price target on shares of Edwards Lifesciences in a report on Friday, December 8th. Canaccord Genuity restated a “buy” rating and set a $137.00 price target on shares of Edwards Lifesciences in a report on Wednesday, November 29th. Finally, Stifel Nicolaus restated a “buy” rating and set a $155.00 price target on shares of Edwards Lifesciences in a report on Friday, February 2nd. Three equities research 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 company has a consensus rating of “Buy” and an average target price of $141.15.
Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings data on Thursday, February 1st. The medical research company reported $0.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.03. The firm had revenue of $888.50 million during the quarter, compared to analysts’ expectations of $868.45 million. Edwards Lifesciences had a net margin of 18.11% and a return on equity of 27.69%. Edwards Lifesciences’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.75 earnings per share. analysts anticipate that Edwards Lifesciences Corp will post 4.49 EPS for the current fiscal year.
Edwards Lifesciences declared that its board has authorized a share buyback program on Thursday, December 7th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the medical research company to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
In other Edwards Lifesciences news, VP Larry L. Wood sold 18,960 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $104.76, for a total transaction of $1,986,249.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Robert W.A. Sellers sold 12,020 shares of the business’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $131.03, for a total transaction of $1,574,980.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 175,940 shares of company stock valued at $20,049,578. Company insiders own 2.13% of the company’s stock.
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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