B&L Asset Management LLC Invests $3.10 Million in Edwards Lifesciences Co. (NYSE:EW)

B&L Asset Management LLC purchased a new stake in Edwards Lifesciences Co. (NYSE:EW) in the 3rd quarter, Holdings Channel.com reports. The firm purchased 46,998 shares of the medical research company’s stock, valued at approximately $3,101,000. Edwards Lifesciences makes up 2.0% of B&L Asset Management LLC’s holdings, making the stock its 16th largest position.

Other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp grew its stake in Edwards Lifesciences by 4.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 19,782,909 shares of the medical research company’s stock worth $1,827,347,000 after buying an additional 809,605 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Edwards Lifesciences by 9.8% during the third quarter. Fisher Asset Management LLC now owns 9,078,311 shares of the medical research company’s stock valued at $599,078,000 after acquiring an additional 806,705 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Edwards Lifesciences by 1.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,005,789 shares of the medical research company’s stock worth $396,322,000 after acquiring an additional 61,275 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Edwards Lifesciences by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,659,102 shares of the medical research company’s stock worth $241,464,000 after acquiring an additional 53,181 shares during the period. Finally, AustralianSuper Pty Ltd increased its holdings in shares of Edwards Lifesciences by 17.8% in the 3rd quarter. AustralianSuper Pty Ltd now owns 3,273,416 shares of the medical research company’s stock worth $216,013,000 after acquiring an additional 494,604 shares during the period. Institutional investors own 79.46% of the company’s stock.

Insiders Place Their Bets

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $66.77, for a total value of $333,850.00. Following the completion of the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,133,916.72. This represents a 9.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Larry L. Wood sold 25,000 shares of Edwards Lifesciences stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $65.91, for a total value of $1,647,750.00. Following the transaction, the insider now directly owns 198,526 shares in the company, valued at approximately $13,084,848.66. This trade represents a 11.18 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,000 shares of company stock worth $2,657,000. Company insiders own 1.29% of the company’s stock.

Analyst Ratings Changes

EW has been the subject of several recent analyst reports. Citigroup decreased their target price on shares of Edwards Lifesciences from $83.00 to $77.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Canaccord Genuity Group decreased their price objective on Edwards Lifesciences from $66.00 to $63.00 and set a “hold” rating for the company in a report on Friday, October 25th. JPMorgan Chase & Co. lifted their target price on Edwards Lifesciences from $72.00 to $78.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. UBS Group reduced their price target on Edwards Lifesciences from $90.00 to $75.00 and set a “neutral” rating for the company in a research report on Tuesday, September 10th. Finally, Daiwa America lowered Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. Seventeen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Edwards Lifesciences currently has a consensus rating of “Hold” and an average price target of $76.85.

Edwards Lifesciences Trading Down 1.0 %

Edwards Lifesciences stock opened at $71.35 on Friday. The firm has a market cap of $42.08 billion, a price-to-earnings ratio of 10.30, a price-to-earnings-growth ratio of 4.01 and a beta of 1.12. Edwards Lifesciences Co. has a 1 year low of $58.93 and a 1 year high of $96.12. The firm’s 50 day moving average price is $68.10 and its two-hundred day moving average price is $75.15. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46.

Edwards Lifesciences (NYSE:EW) last issued its earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.67. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same period in the previous year, the firm posted $0.59 EPS. The company’s quarterly revenue was up 8.9% on a year-over-year basis. On average, research analysts predict that Edwards Lifesciences Co. will post 2.57 EPS for the current fiscal year.

Edwards Lifesciences Profile

Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of aortic heart valves under the Edwards SAPIEN family of valves system; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases under the PASCAL PRECISION and Cardioband names.