Newport Wealth Strategies Inc. raised its stake in Edwards Lifesciences Corp (NYSE:EW) by 19.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,345 shares of the medical research company’s stock after purchasing an additional 380 shares during the period. Newport Wealth Strategies Inc.’s holdings in Edwards Lifesciences were worth $346,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of Edwards Lifesciences by 32.9% in the second quarter. FMR LLC now owns 6,714,684 shares of the medical research company’s stock valued at $977,456,000 after acquiring an additional 1,663,511 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd grew its stake in shares of Edwards Lifesciences by 211.7% in the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 1,049,182 shares of the medical research company’s stock valued at $182,662,000 after acquiring an additional 712,537 shares in the last quarter. WCM Investment Management CA grew its stake in shares of Edwards Lifesciences by 19,310.8% in the second quarter. WCM Investment Management CA now owns 455,377 shares of the medical research company’s stock valued at $66,290,000 after acquiring an additional 453,031 shares in the last quarter. Morgan Stanley grew its stake in shares of Edwards Lifesciences by 38.4% in the second quarter. Morgan Stanley now owns 1,329,458 shares of the medical research company’s stock valued at $193,531,000 after acquiring an additional 369,027 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Edwards Lifesciences by 633.6% in the second quarter. First Trust Advisors LP now owns 364,884 shares of the medical research company’s stock valued at $53,116,000 after acquiring an additional 315,144 shares in the last quarter. Hedge funds and other institutional investors own 82.71% of the company’s stock.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Edwards Lifesciences from a “hold” rating to a “buy” rating and set a $165.00 price objective for the company in a research report on Saturday, July 14th. Guggenheim reaffirmed a “buy” rating and set a $170.00 price objective on shares of Edwards Lifesciences in a research report on Friday, July 27th. Jefferies Financial Group reaffirmed a “buy” rating and set a $168.00 price objective on shares of Edwards Lifesciences in a research report on Friday, July 27th. ValuEngine raised shares of Edwards Lifesciences from a “hold” rating to a “buy” rating in a research report on Wednesday, September 19th. Finally, SunTrust Banks cut their price objective on shares of Edwards Lifesciences to $170.00 and set a “buy” rating for the company in a research report on Friday, August 10th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Edwards Lifesciences has a consensus rating of “Buy” and an average target price of $156.79.
EW stock opened at $152.73 on Wednesday. The stock has a market capitalization of $31.94 billion, a PE ratio of 40.19, a P/E/G ratio of 2.01 and a beta of 0.87. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.31 and a quick ratio of 1.85. Edwards Lifesciences Corp has a 12 month low of $103.01 and a 12 month high of $175.00.
Edwards Lifesciences (NYSE:EW) last posted its earnings results on Tuesday, October 23rd. The medical research company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.05. The firm had revenue of $906.60 million during the quarter, compared to analysts’ expectations of $927.56 million. Edwards Lifesciences had a net margin of 20.67% and a return on equity of 30.11%. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.84 earnings per share. As a group, analysts anticipate that Edwards Lifesciences Corp will post 4.7 EPS for the current year.
In other news, CEO Michael A. Mussallem sold 32,900 shares of the stock in a transaction dated Monday, October 29th. The shares were sold at an average price of $140.74, for a total value of $4,630,346.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Huimin Wang sold 3,800 shares of the stock in a transaction dated Friday, October 5th. The stock was sold at an average price of $152.79, for a total transaction of $580,602.00. Following the completion of the transaction, the vice president now directly owns 81,665 shares of the company’s stock, valued at approximately $12,477,595.35. The disclosure for this sale can be found here. Insiders sold 116,511 shares of company stock valued at $16,634,402 in the last three months. Company insiders own 1.84% of the company’s stock.
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About Edwards Lifesciences
Edwards Lifesciences Corporation provides products and technologies to treat structural heart disease and critically ill patients in the United States and internationally. It offers transcatheter heart valve therapy products comprising transcatheter aortic heart valves and related delivery systems for the nonsurgical replacement of heart valves.
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