Edwards Lifesciences Corp (EW) Position Increased by Park Avenue Securities LLC

Park Avenue Securities LLC increased its holdings in Edwards Lifesciences Corp (NYSE:EW) by 16.5% during the 4th quarter, Holdings Channel reports. The firm owned 3,548 shares of the medical research company’s stock after buying an additional 503 shares during the period. Park Avenue Securities LLC’s holdings in Edwards Lifesciences were worth $396,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Wells Fargo & Company MN lifted its holdings in Edwards Lifesciences by 20.2% in the third quarter. Wells Fargo & Company MN now owns 2,548,282 shares of the medical research company’s stock worth $278,553,000 after buying an additional 429,022 shares during the period. American Century Companies Inc. lifted its holdings in Edwards Lifesciences by 7.0% in the third quarter. American Century Companies Inc. now owns 2,224,010 shares of the medical research company’s stock worth $243,107,000 after buying an additional 144,701 shares during the period. Artisan Partners Limited Partnership lifted its holdings in Edwards Lifesciences by 12.0% in the third quarter. Artisan Partners Limited Partnership now owns 1,432,428 shares of the medical research company’s stock worth $156,579,000 after buying an additional 153,896 shares during the period. Koch Industries Inc. lifted its holdings in Edwards Lifesciences by 28,363.1% in the second quarter. Koch Industries Inc. now owns 1,397,254 shares of the medical research company’s stock worth $1,386,000 after buying an additional 1,392,345 shares during the period. Finally, Legal & General Group Plc lifted its holdings in Edwards Lifesciences by 1.9% in the third quarter. Legal & General Group Plc now owns 1,118,298 shares of the medical research company’s stock worth $122,217,000 after buying an additional 20,931 shares during the period. 81.52% of the stock is currently owned by institutional investors.

In related news, VP Donald E. Bobo, Jr. sold 5,300 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $127.24, for a total value of $674,372.00. Following the completion of the transaction, the vice president now directly owns 24,908 shares in the company, valued at approximately $3,169,293.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Robert W.A. Sellers sold 12,020 shares of the business’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 transaction of $1,574,980.60. The disclosure for this sale can be found here. Insiders have sold 175,940 shares of company stock valued at $20,049,578 over the last quarter. Company insiders own 2.13% of the company’s stock.

Several brokerages have commented on EW. JMP Securities raised their price objective on shares of Edwards Lifesciences from $135.00 to $140.00 and gave the stock a “market outperform” rating in a report on Friday, February 2nd. SunTrust Banks restated a “buy” rating and issued a $150.00 price objective on shares of Edwards Lifesciences in a report on Wednesday, January 31st. Guggenheim restated a “buy” rating and issued a $162.00 price objective on shares of Edwards Lifesciences in a report on Friday, February 2nd. Barclays lowered their price objective on shares of Edwards Lifesciences from $120.00 to $118.00 and set an “equal weight” rating for the company in a report on Wednesday, October 25th. Finally, Canaccord Genuity restated a “buy” rating and issued a $137.00 price objective on shares of Edwards Lifesciences in a report on Wednesday, November 29th. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Edwards Lifesciences currently has a consensus rating of “Buy” and an average price target of $141.15.

Edwards Lifesciences Corp (EW) opened at $126.27 on Friday. Edwards Lifesciences Corp has a 1-year low of $89.20 and a 1-year high of $138.48. The stock has a market cap of $26,194.31, a P/E ratio of 32.57, a PEG ratio of 1.83 and a beta of 0.63. The company has a current ratio of 1.81, a quick ratio of 1.41 and a debt-to-equity ratio of 0.15.

Edwards Lifesciences (NYSE:EW) last released its earnings results on Thursday, February 1st. The medical research company reported $0.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.03. Edwards Lifesciences had a net margin of 18.11% and a return on equity of 27.69%. The firm had revenue of $888.50 million during the quarter, compared to analyst estimates of $868.45 million. During the same period last year, the business earned $0.75 earnings per share. The business’s revenue was up 15.7% on a year-over-year basis. sell-side analysts predict that Edwards Lifesciences Corp will post 4.49 EPS for the current fiscal year.

Edwards Lifesciences declared that its Board of Directors has authorized a share repurchase program on Thursday, December 7th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the medical research company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

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About Edwards Lifesciences

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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