Edwards Lifesciences Corp (NYSE:EW) Stake Raised by CNB Bank

CNB Bank boosted its holdings in Edwards Lifesciences Corp (NYSE:EW) by 312.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 779 shares of the medical research company’s stock after acquiring an additional 590 shares during the quarter. CNB Bank’s holdings in Edwards Lifesciences were worth $171,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Pegasus Asset Management Inc. increased its stake in Edwards Lifesciences by 0.3% in the 3rd quarter. Pegasus Asset Management Inc. now owns 14,154 shares of the medical research company’s stock worth $3,113,000 after purchasing an additional 43 shares in the last quarter. Stephens Inc. AR increased its stake in Edwards Lifesciences by 0.6% in the 3rd quarter. Stephens Inc. AR now owns 7,482 shares of the medical research company’s stock worth $1,645,000 after purchasing an additional 45 shares in the last quarter. Ledyard National Bank increased its stake in Edwards Lifesciences by 0.5% in the 2nd quarter. Ledyard National Bank now owns 9,178 shares of the medical research company’s stock worth $1,696,000 after purchasing an additional 50 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its stake in Edwards Lifesciences by 1.8% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 2,880 shares of the medical research company’s stock worth $532,000 after purchasing an additional 50 shares in the last quarter. Finally, Optimum Investment Advisors increased its stake in Edwards Lifesciences by 11.1% in the 3rd quarter. Optimum Investment Advisors now owns 500 shares of the medical research company’s stock worth $110,000 after purchasing an additional 50 shares in the last quarter. 81.31% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts recently weighed in on EW shares. Zacks Investment Research raised Edwards Lifesciences from a “hold” rating to a “buy” rating and set a $232.00 price target on the stock in a research note on Thursday, July 25th. Jefferies Financial Group lifted their target price on Edwards Lifesciences from $210.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. lifted their target price on Edwards Lifesciences from $190.00 to $225.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. UBS Group lifted their target price on Edwards Lifesciences from $205.00 to $230.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Finally, Credit Suisse Group lifted their target price on Edwards Lifesciences from $226.00 to $261.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the stock. Edwards Lifesciences has an average rating of “Buy” and an average price target of $237.89.

In related news, Director William J. Phd Link sold 10,214 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $221.86, for a total value of $2,266,078.04. Following the completion of the sale, the director now owns 16,817 shares of the company’s stock, valued at approximately $3,731,019.62. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Catherine M. Szyman sold 372 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $214.53, for a total value of $79,805.16. Following the completion of the sale, the vice president now directly owns 18,010 shares of the company’s stock, valued at approximately $3,863,685.30. The disclosure for this sale can be found here. In the last three months, insiders sold 146,103 shares of company stock valued at $32,806,079. 1.63% of the stock is currently owned by company insiders.

NYSE:EW opened at $234.16 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.53 and a quick ratio of 2.74. Edwards Lifesciences Corp has a fifty-two week low of $139.64 and a fifty-two week high of $241.82. The stock’s 50-day moving average is $226.79 and its two-hundred day moving average is $203.32. The stock has a market cap of $48.47 billion, a PE ratio of 49.82, a price-to-earnings-growth ratio of 2.81 and a beta of 0.82.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $1.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.19. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Edwards Lifesciences had a return on equity of 32.28% and a net margin of 18.64%. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.07 EPS. On average, equities research analysts anticipate that Edwards Lifesciences Corp will post 5.6 earnings per share for the current year.

Edwards Lifesciences 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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Institutional Ownership by Quarter for Edwards Lifesciences (NYSE:EW)

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