Palisade Asset Management LLC bought a new position in Edwards Lifesciences Corp (NYSE:EW) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,030 shares of the medical research company’s stock, valued at approximately $474,000.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Peapack Gladstone Financial Corp raised its holdings in shares of Edwards Lifesciences by 103.8% during the second quarter. Peapack Gladstone Financial Corp now owns 2,279 shares of the medical research company’s stock valued at $421,000 after buying an additional 1,161 shares during the last quarter. Creative Planning raised its holdings in shares of Edwards Lifesciences by 6.3% during the third quarter. Creative Planning now owns 34,182 shares of the medical research company’s stock valued at $7,517,000 after buying an additional 2,034 shares during the last quarter. Tocqueville Asset Management L.P. raised its holdings in shares of Edwards Lifesciences by 8.0% during the third quarter. Tocqueville Asset Management L.P. now owns 45,199 shares of the medical research company’s stock valued at $9,940,000 after buying an additional 3,329 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Edwards Lifesciences by 2.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,500,196 shares of the medical research company’s stock valued at $329,908,000 after buying an additional 31,515 shares during the last quarter. Finally, Keudell Morrison Wealth Management bought a new stake in shares of Edwards Lifesciences during the second quarter valued at approximately $3,580,000. 80.74% of the stock is currently owned by hedge funds and other institutional investors.
NYSE EW opened at $238.58 on Friday. Edwards Lifesciences Corp has a 12 month low of $156.01 and a 12 month high of $247.64. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.53 and a quick ratio of 2.74. The firm has a market capitalization of $49.23 billion, a PE ratio of 50.76, a P/E/G ratio of 2.59 and a beta of 0.77. The company’s 50 day simple moving average is $236.01 and its 200 day simple moving average is $223.19.
Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $1.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.19. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.04 billion. Edwards Lifesciences had a net margin of 18.64% and a return on equity of 32.28%. 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 earnings per share. Sell-side analysts anticipate that Edwards Lifesciences Corp will post 5.6 earnings per share for the current fiscal year.
A number of research firms have recently weighed in on EW. UBS Group lifted their price target on Edwards Lifesciences from $250.00 to $255.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Royal Bank of Canada lifted their price target on Edwards Lifesciences from $217.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Jefferies Financial Group lifted their price target on Edwards Lifesciences from $255.00 to $285.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Deutsche Bank began coverage on shares of Edwards Lifesciences in a research note on Friday, January 3rd. They set a “hold” rating and a $164.00 price objective on the stock. Finally, Credit Suisse Group raised their price objective on shares of Edwards Lifesciences from $269.00 to $275.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $239.42.
In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,369 shares of Edwards Lifesciences stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $235.69, for a total value of $1,265,419.61. Following the transaction, the vice president now owns 26,082 shares in the company, valued at $6,147,266.58. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Catherine M. Szyman sold 2,500 shares of Edwards Lifesciences stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $227.19, for a total transaction of $567,975.00. Following the completion of the transaction, the vice president now owns 19,605 shares in the company, valued at approximately $4,454,059.95. The disclosure for this sale can be found here. In the last 90 days, insiders sold 174,241 shares of company stock worth $40,929,955. 1.63% of the stock is currently owned by company insiders.
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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