Wealthfront Advisers LLC raised its position in shares of Edwards Lifesciences Corp (NYSE:EW) by 34.2% in the 1st quarter, HoldingsChannel.com reports. The firm owned 8,823 shares of the medical research company’s stock after acquiring an additional 2,248 shares during the quarter. Wealthfront Advisers LLC’s holdings in Edwards Lifesciences were worth $1,688,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Pinnacle Bank purchased a new stake in shares of Edwards Lifesciences in the fourth quarter worth $65,000. Mackay Shields LLC raised its position in shares of Edwards Lifesciences by 58.8% in the fourth quarter. Mackay Shields LLC now owns 53,020 shares of the medical research company’s stock worth $8,121,000 after buying an additional 19,624 shares in the last quarter. Cetera Advisor Networks LLC raised its position in shares of Edwards Lifesciences by 3.8% in the fourth quarter. Cetera Advisor Networks LLC now owns 1,573 shares of the medical research company’s stock worth $242,000 after buying an additional 57 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Edwards Lifesciences in the first quarter worth $843,000. Finally, National Pension Service raised its position in shares of Edwards Lifesciences by 5.4% in the fourth quarter. National Pension Service now owns 226,191 shares of the medical research company’s stock worth $39,837,000 after buying an additional 11,615 shares in the last quarter. 82.12% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE EW traded down $0.90 during trading hours on Wednesday, hitting $184.70. The company’s stock had a trading volume of 42,409 shares, compared to its average volume of 1,272,425. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.66 and a quick ratio of 2.69. The stock has a market capitalization of $38.07 billion, a PE ratio of 39.34, a PEG ratio of 2.35 and a beta of 0.85. Edwards Lifesciences Corp has a 12 month low of $134.53 and a 12 month high of $197.86.
Edwards Lifesciences (NYSE:EW) last posted its earnings results on Tuesday, April 23rd. The medical research company reported $1.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.23 by $0.09. The company had revenue of $993.00 million for the quarter, compared to analysts’ expectations of $989.87 million. Edwards Lifesciences had a return on equity of 31.16% and a net margin of 20.03%. Edwards Lifesciences’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the firm earned $1.22 earnings per share. As a group, equities research analysts anticipate that Edwards Lifesciences Corp will post 5.29 earnings per share for the current year.
In other Edwards Lifesciences news, VP Huimin Wang sold 4,650 shares of Edwards Lifesciences stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $188.60, for a total transaction of $876,990.00. Following the sale, the vice president now directly owns 35,874 shares of the company’s stock, valued at approximately $6,765,836.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael A. Mussallem sold 32,800 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $174.73, for a total value of $5,731,144.00. Following the completion of the sale, the chief executive officer now directly owns 75,926 shares in the company, valued at $13,266,549.98. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 121,656 shares of company stock worth $21,713,940. Insiders own 1.63% of the company’s stock.
A number of equities research analysts recently issued reports on the company. Stifel Nicolaus increased their price objective on Edwards Lifesciences from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Jefferies Financial Group raised their price target on Edwards Lifesciences from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Credit Suisse Group raised their price target on Edwards Lifesciences from $189.00 to $221.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. JPMorgan Chase & Co. raised their price target on Edwards Lifesciences from $175.00 to $190.00 and gave the company a “neutral” rating in a research report on Wednesday, March 27th. They noted that the move was a valuation call. Finally, BMO Capital Markets raised their price target on Edwards Lifesciences to $204.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $186.52.
Edwards Lifesciences Company Profile
Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States and internationally. It offers transcatheter heart valve therapy products comprising transcatheter aortic valve replacement, and transcatheter mitral and tricuspid therapies for the nonsurgical replacement of heart valves.
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