Country Trust Bank bought a new position in shares of Edwards Lifesciences Corp (NYSE:EW) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 37,650 shares of the medical research company’s stock, valued at approximately $4,244,000.
Other hedge funds have also recently added to or reduced their stakes in the company. ETF Managers Group LLC purchased a new position in Edwards Lifesciences in the second quarter valued at approximately $112,000. MPS Loria Financial Planners LLC purchased a new position in Edwards Lifesciences in the second quarter valued at approximately $140,000. Dupont Capital Management Corp purchased a new position in Edwards Lifesciences in the third quarter valued at approximately $142,000. Captrust Financial Advisors purchased a new position in Edwards Lifesciences in the second quarter valued at approximately $149,000. Finally, Salem Investment Counselors Inc. increased its stake in Edwards Lifesciences by 16.3% in the second quarter. Salem Investment Counselors Inc. now owns 1,419 shares of the medical research company’s stock valued at $168,000 after purchasing an additional 199 shares during the last quarter. Hedge funds and other institutional investors own 81.36% of the company’s stock.
Edwards Lifesciences Corp (NYSE EW) opened at $119.99 on Friday. The company has a current ratio of 3.49, a quick ratio of 2.76 and a debt-to-equity ratio of 0.33. The stock has a market cap of $25,390.00, a P/E ratio of 34.88, a PEG ratio of 1.86 and a beta of 0.51. Edwards Lifesciences Corp has a 1 year low of $86.55 and a 1 year high of $121.45.
Edwards Lifesciences announced that its Board of Directors has authorized a stock buyback program on Thursday, December 7th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the medical research company to repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.
In related news, Director Schack Wesley W. Von sold 1,000 shares of the stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $104.15, for a total transaction of $104,150.00. Following the completion of the sale, the director now directly owns 2,622 shares of the company’s stock, valued at $273,081.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael A. Mussallem sold 32,900 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $100.93, for a total value of $3,320,597.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 210,480 shares of company stock worth $23,056,527. Insiders own 2.13% of the company’s stock.
EW has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Cowen set a $135.00 price target on shares of Edwards Lifesciences and gave the company a “buy” rating in a research note on Sunday, December 10th. Deutsche Bank dropped their price target on shares of Edwards Lifesciences from $122.00 to $115.00 and set a “hold” rating on the stock in a research note on Thursday, October 26th. Canaccord Genuity reiterated a “buy” rating and issued a $137.00 price target on shares of Edwards Lifesciences in a research note on Wednesday, November 29th. Finally, Evercore ISI initiated coverage on shares of Edwards Lifesciences in a research note on Wednesday, January 3rd. They issued an “outperform” rating and a $140.00 price target on the stock. Six research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $129.57.
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Edwards Lifesciences Profile
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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