MASTERINVEST Kapitalanlage GmbH acquired a new stake in shares of Edwards Lifesciences Corporation (NYSE:EW – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 38,750 shares of the medical research company’s stock, valued at approximately $3,505,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. purchased a new stake in Edwards Lifesciences in the 2nd quarter worth approximately $5,318,092,000. Bank of New York Mellon Corp bought a new position in Edwards Lifesciences in the 2nd quarter valued at $1,274,082,000. Norges Bank purchased a new position in shares of Edwards Lifesciences during the 4th quarter valued at $803,686,000. Bank of America Corp DE purchased a new position in shares of Edwards Lifesciences during the 2nd quarter valued at $605,397,000. Finally, Deutsche Bank AG bought a new position in shares of Edwards Lifesciences in the second quarter worth $516,552,000. Institutional investors own 79.46% of the company’s stock.
Edwards Lifesciences Stock Down 0.9%
Shares of EW opened at $89.97 on Friday. Edwards Lifesciences Corporation has a 1 year low of $72.30 and a 1 year high of $96.29. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.52 and a quick ratio of 3.77. The stock has a 50 day simple moving average of $89.48 and a two-hundred day simple moving average of $84.99. The firm has a market cap of $51.81 billion, a P/E ratio of 51.71, a P/E/G ratio of 2.38 and a beta of 0.85.
Insider Activity at Edwards Lifesciences
In related news, VP Daniel J. Lippis sold 619 shares of Edwards Lifesciences stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $92.03, for a total value of $56,966.57. Following the transaction, the vice president owned 40,034 shares in the company, valued at $3,684,329.02. This trade represents a 1.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 1,857 shares of company stock worth $170,305. 0.31% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
EW has been the topic of a number of recent analyst reports. UBS Group initiated coverage on Edwards Lifesciences in a research report on Tuesday, July 28th. They issued a “buy” rating and a $110.00 price objective on the stock. JPMorgan Chase & Co. upped their target price on Edwards Lifesciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. Citigroup raised their price target on Edwards Lifesciences from $101.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Wall Street Zen downgraded Edwards Lifesciences from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Finally, BTIG Research boosted their price objective on Edwards Lifesciences from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. Seventeen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, Edwards Lifesciences presently has a consensus rating of “Moderate Buy” and an average price target of $100.27.
Read Our Latest Research Report on Edwards Lifesciences
Edwards Lifesciences Company Profile
Edwards Lifesciences is a medical technology company focused on products and therapies for structural heart disease and critical care monitoring. The company designs, develops and manufactures prosthetic heart valves and related delivery systems used in both surgical and minimally invasive (transcatheter) procedures. Its portfolio addresses a range of valvular conditions, with an emphasis on technologies that enable transcatheter aortic valve replacement (TAVR) as an alternative to open-heart surgery.
In addition to transcatheter heart valves—including the widely recognized SAPIEN family—Edwards offers surgical tissue valves and ancillary devices used by cardiac surgeons, interventional cardiologists and hospital teams.
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