Beese Fulmer Investment Management Inc. reduced its position in shares of Edwards Lifesciences Corp (NYSE:EW) by 0.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 38,899 shares of the medical research company’s stock after selling 247 shares during the quarter. Edwards Lifesciences comprises 1.4% of Beese Fulmer Investment Management Inc.’s holdings, making the stock its 23rd biggest position. Beese Fulmer Investment Management Inc.’s holdings in Edwards Lifesciences were worth $7,186,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in EW. Norges Bank bought a new stake in shares of Edwards Lifesciences in the 4th quarter valued at about $559,646,000. FMR LLC grew its position in shares of Edwards Lifesciences by 28.9% in the 4th quarter. FMR LLC now owns 7,576,820 shares of the medical research company’s stock valued at $1,160,540,000 after purchasing an additional 1,700,199 shares during the period. Jennison Associates LLC grew its position in shares of Edwards Lifesciences by 40.2% in the 1st quarter. Jennison Associates LLC now owns 5,763,824 shares of the medical research company’s stock valued at $1,102,792,000 after purchasing an additional 1,651,691 shares during the period. BlackRock Inc. grew its position in shares of Edwards Lifesciences by 4.7% in the 1st quarter. BlackRock Inc. now owns 17,211,498 shares of the medical research company’s stock valued at $3,293,075,000 after purchasing an additional 780,079 shares during the period. Finally, Deutsche Bank AG grew its position in shares of Edwards Lifesciences by 78.0% in the 4th quarter. Deutsche Bank AG now owns 580,801 shares of the medical research company’s stock valued at $88,951,000 after purchasing an additional 254,590 shares during the period. 81.95% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO Michael A. Mussallem sold 22,850 shares of Edwards Lifesciences stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $189.14, for a total value of $4,321,849.00. Following the transaction, the chief executive officer now owns 105,770 shares of the company’s stock, valued at $20,005,337.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Catherine M. Szyman sold 1,152 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $191.70, for a total transaction of $220,838.40. Following the transaction, the vice president now directly owns 19,162 shares in the company, valued at approximately $3,673,355.40. The disclosure for this sale can be found here. In the last three months, insiders sold 163,895 shares of company stock worth $29,555,839. Insiders own 1.63% of the company’s stock.
A number of equities analysts have weighed in on EW shares. Deutsche Bank upped their price target on Texas Instruments from $100.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, April 24th. Raymond James reiterated an “outperform” rating and set a C$44.00 price objective on shares of Teck Resources in a research note on Wednesday, April 24th. Jefferies Financial Group cut MACOM Technology Solutions from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $18.00 to $15.00 in a research note on Wednesday, April 24th. JPMorgan Chase & Co. upped their price objective on Edwards Lifesciences from $175.00 to $190.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 27th. They noted that the move was a valuation call. Finally, BTIG Research began coverage on in a research note on Wednesday, April 24th. They set a “buy” rating and a $5.00 price objective on the stock. Two analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company. Edwards Lifesciences currently has an average rating of “Buy” and a consensus price target of $188.75.
EW traded up $1.45 during midday trading on Tuesday, hitting $195.46. 1,141,571 shares of the company’s stock traded hands, compared to its average volume of 1,305,756. The stock has a market capitalization of $40.52 billion, a P/E ratio of 41.59, a PEG ratio of 2.48 and a beta of 0.85. The company’s fifty day moving average price is $187.99. The company has a current ratio of 3.66, a quick ratio of 2.69 and a debt-to-equity ratio of 0.19. Edwards Lifesciences Corp has a one year low of $134.53 and a one year high of $197.86.
Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Tuesday, April 23rd. The medical research company reported $1.32 EPS for the quarter, beating the Zacks’ consensus estimate of $1.23 by $0.09. Edwards Lifesciences had a net margin of 20.03% and a return on equity of 31.16%. The company had revenue of $993.00 million for the quarter, compared to analyst estimates of $989.87 million. During the same quarter last year, the firm posted $1.22 earnings per share. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, equities analysts forecast that Edwards Lifesciences Corp will post 5.29 earnings per share for the current fiscal year.
About Edwards Lifesciences
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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