Synovus Financial Corp lowered its stake in Edwards Lifesciences Corp (NYSE:EW) by 6.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 39,752 shares of the medical research company’s stock after selling 2,663 shares during the period. Synovus Financial Corp’s holdings in Edwards Lifesciences were worth $4,480,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Cerebellum GP LLC acquired a new stake in Edwards Lifesciences in the fourth quarter valued at about $128,000. Resources Investment Advisors Inc. boosted its stake in Edwards Lifesciences by 66.0% in the fourth quarter. Resources Investment Advisors Inc. now owns 1,170 shares of the medical research company’s stock valued at $132,000 after buying an additional 465 shares in the last quarter. Exane Derivatives boosted its stake in Edwards Lifesciences by 381.3% in the fourth quarter. Exane Derivatives now owns 1,213 shares of the medical research company’s stock valued at $137,000 after buying an additional 961 shares in the last quarter. Dupont Capital Management Corp acquired a new stake in Edwards Lifesciences in the third quarter valued at about $142,000. Finally, Diversified Trust Co acquired a new stake in Edwards Lifesciences in the fourth quarter valued at about $209,000. Institutional investors own 81.23% of the company’s stock.
Several analysts recently weighed in on the company. Zacks Investment Research raised Edwards Lifesciences from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a research note on Thursday, February 8th. Cowen reaffirmed a “buy” rating and issued a $150.00 price objective on shares of Edwards Lifesciences in a research note on Thursday, February 1st. Guggenheim reaffirmed a “buy” rating and issued a $162.00 price objective on shares of Edwards Lifesciences in a research note on Friday, February 2nd. SunTrust Banks reaffirmed a “buy” rating and issued a $150.00 price objective on shares of Edwards Lifesciences in a research note on Wednesday, January 31st. Finally, JMP Securities raised their price objective on Edwards Lifesciences from $135.00 to $140.00 and gave the company a “market outperform” rating in a research note on Friday, February 2nd. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $141.15.
Edwards Lifesciences Corp (NYSE:EW) opened at $133.14 on Tuesday. The company has a quick ratio of 1.41, a current ratio of 1.81 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $28,105.37, a P/E ratio of 46.47, a P/E/G ratio of 1.98 and a beta of 0.63. Edwards Lifesciences Corp has a 12 month low of $89.20 and a 12 month high of $138.48.
Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data on Thursday, February 1st. The medical research company reported $0.94 EPS for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.03. The company had revenue of $888.50 million for the quarter, compared to analyst estimates of $868.45 million. Edwards Lifesciences had a return on equity of 27.69% and a net margin of 18.11%. The firm’s quarterly revenue was up 15.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.75 earnings per share. analysts predict that Edwards Lifesciences Corp will post 4.49 EPS for the current year.
Edwards Lifesciences declared that its board has approved a share buyback program on Thursday, December 7th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
In related news, VP Larry L. Wood sold 18,960 shares of Edwards Lifesciences stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $114.58, for a total value of $2,172,436.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Michael A. Mussallem sold 32,800 shares of Edwards Lifesciences stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $126.69, for a total value of $4,155,432.00. Following the completion of the transaction, the chief executive officer now directly owns 74,131 shares in the company, valued at $9,391,656.39. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 172,630 shares of company stock worth $20,648,221. 2.13% of the stock is owned by insiders.
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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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