Bank of Stockton purchased a new stake in Edwards Lifesciences Corp (NYSE:EW) in the 1st quarter, HoldingsChannel reports. The fund purchased 1,070 shares of the medical research company’s stock, valued at approximately $204,000.
Several other hedge funds also recently modified their holdings of the company. Standard Life Aberdeen plc grew its stake in Edwards Lifesciences by 8.7% during the third quarter. Standard Life Aberdeen plc now owns 81,459 shares of the medical research company’s stock worth $14,184,000 after purchasing an additional 6,529 shares during the period. LPL Financial LLC lifted its holdings in Edwards Lifesciences by 9.7% during the third quarter. LPL Financial LLC now owns 17,157 shares of the medical research company’s stock worth $2,987,000 after acquiring an additional 1,515 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Edwards Lifesciences by 474.4% during the third quarter. The Manufacturers Life Insurance Company now owns 156,342 shares of the medical research company’s stock worth $27,220,000 after acquiring an additional 129,124 shares during the period. Pacer Advisors Inc. lifted its holdings in Edwards Lifesciences by 14.9% during the third quarter. Pacer Advisors Inc. now owns 11,424 shares of the medical research company’s stock worth $1,989,000 after acquiring an additional 1,478 shares during the period. Finally, Vident Investment Advisory LLC bought a new stake in Edwards Lifesciences during the third quarter worth $735,000. 84.88% of the stock is owned by institutional investors.
NYSE:EW opened at $190.39 on Wednesday. The firm has a market cap of $39.37 billion, a P/E ratio of 40.51, a price-to-earnings-growth ratio of 2.46 and a beta of 0.91. Edwards Lifesciences Corp has a 52-week low of $123.00 and a 52-week high of $197.86. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.61 and a quick ratio of 1.92.
Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data on Thursday, January 31st. The medical research company reported $1.17 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.17. The company had revenue of $977.70 million during the quarter, compared to analyst estimates of $973.72 million. Edwards Lifesciences had a return on equity of 31.09% and a net margin of 19.40%. During the same quarter last year, the company earned $0.94 earnings per share. Equities research analysts anticipate that Edwards Lifesciences Corp will post 5.22 EPS for the current year.
In other Edwards Lifesciences news, VP Larry L. Wood sold 6,716 shares of Edwards Lifesciences stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $169.10, for a total transaction of $1,135,675.60. Following the completion of the sale, the vice president now owns 35,224 shares of the company’s stock, valued at $5,956,378.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael A. Mussallem sold 32,800 shares of Edwards Lifesciences stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $176.90, for a total value of $5,802,320.00. Following the sale, the chief executive officer now directly owns 75,926 shares of the company’s stock, valued at approximately $13,431,309.40. The disclosure for this sale can be found here. Insiders have sold 114,328 shares of company stock valued at $20,121,304 in the last three months. 1.63% of the stock is owned by corporate insiders.
EW has been the subject of a number of recent research reports. Bank of America raised their target price on Edwards Lifesciences from $190.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Citigroup raised their target price on Edwards Lifesciences from $118.00 to $119.00 and gave the stock a “sell” rating in a research report on Wednesday, January 2nd. JPMorgan Chase & Co. raised their target price on Edwards Lifesciences from $175.00 to $190.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 27th. They noted that the move was a valuation call. Deutsche Bank initiated coverage on Edwards Lifesciences in a research report on Wednesday, January 2nd. They issued a “hold” rating and a $164.00 target price for the company. Finally, Morgan Stanley raised their target price on Edwards Lifesciences from $180.00 to $197.00 and gave the stock an “overweight” rating in a research report on Monday, March 18th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Edwards Lifesciences has an average rating of “Buy” and an average price target of $182.29.
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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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