Rhumbline Advisers lowered its position in shares of Edwards Lifesciences Corporation (NYSE:EW) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 398,763 shares of the medical research company’s stock after selling 2,784 shares during the period. Rhumbline Advisers owned 0.19% of Edwards Lifesciences Corporation worth $47,150,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Macquarie Group Ltd. increased its position in Edwards Lifesciences Corporation by 56.9% in the fourth quarter. Macquarie Group Ltd. now owns 149,380 shares of the medical research company’s stock worth $13,996,000 after buying an additional 54,196 shares during the period. Gulf International Bank UK Ltd increased its position in Edwards Lifesciences Corporation by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 65,780 shares of the medical research company’s stock worth $6,187,000 after buying an additional 900 shares during the period. Quadrant Capital Group LLC increased its position in Edwards Lifesciences Corporation by 3.5% in the first quarter. Quadrant Capital Group LLC now owns 1,209 shares of the medical research company’s stock worth $109,000 after buying an additional 41 shares during the period. National Pension Service increased its position in Edwards Lifesciences Corporation by 6.2% in the first quarter. National Pension Service now owns 180,399 shares of the medical research company’s stock worth $16,932,000 after buying an additional 10,502 shares during the period. Finally, Bank of Montreal Can boosted its stake in Edwards Lifesciences Corporation by 31.6% in the first quarter. Bank of Montreal Can now owns 189,685 shares of the medical research company’s stock worth $17,842,000 after buying an additional 45,525 shares in the last quarter. 84.15% of the stock is currently owned by institutional investors and hedge funds.
Edwards Lifesciences Corporation (NYSE EW) opened at 114.50 on Friday. The stock has a market capitalization of $24.18 billion, a price-to-earnings ratio of 34.73 and a beta of 0.63. The firm’s 50-day moving average is $116.95 and its 200-day moving average is $105.35. Edwards Lifesciences Corporation has a 52-week low of $81.12 and a 52-week high of $121.75.
Edwards Lifesciences Corporation (NYSE:EW) last posted its quarterly earnings data on Wednesday, July 26th. The medical research company reported $1.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.20. The business had revenue of $842 million during the quarter, compared to the consensus estimate of $839.16 million. Edwards Lifesciences Corporation had a return on equity of 27.17% and a net margin of 22.16%. The company’s revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.76 earnings per share. Analysts predict that Edwards Lifesciences Corporation will post $3.78 earnings per share for the current year.
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A number of research firms have recently weighed in on EW. BidaskClub cut shares of Edwards Lifesciences Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Canaccord Genuity restated a “buy” rating and issued a $150.00 price target on shares of Edwards Lifesciences Corporation in a report on Wednesday, June 28th. Zacks Investment Research upgraded shares of Edwards Lifesciences Corporation from a “hold” rating to a “buy” rating and set a $129.00 price target on the stock in a report on Thursday, June 1st. Goldman Sachs Group, Inc. (The) began coverage on shares of Edwards Lifesciences Corporation in a report on Tuesday, May 16th. They issued a “conviction-buy” rating and a $138.00 price target on the stock. Finally, Cowen and Company restated an “outperform” rating and issued a $135.00 price target (up from $130.00) on shares of Edwards Lifesciences Corporation in a report on Thursday, July 27th. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $121.13.
In related news, CEO Michael A. Mussallem sold 32,900 shares of the stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $118.05, for a total transaction of $3,883,845.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Catherine M. Szyman sold 4,681 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $115.78, for a total value of $541,966.18. The disclosure for this sale can be found here. Insiders sold 183,412 shares of company stock valued at $21,176,230 over the last three months. Corporate insiders own 2.13% of the company’s stock.
About Edwards Lifesciences Corporation
Edwards Lifesciences Corporation is a manufacturer of heart valve systems and repair products used to replace or repair a patient’s diseased or defective heart valve. The Company is engaged in patient-focused innovations for structural heart disease and critical care monitoring. Its segments include United States, Europe, Japan and Rest of World.
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