Valley National Advisers Inc. grew its stake in Edwards Lifesciences Co. (NYSE:EW – Get Rating) by 282.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,185 shares of the medical research company's stock after buying an additional 875 shares during the quarter. Valley National Advisers Inc.'s holdings in Edwards Lifesciences were worth $117,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Newfound Research LLC lifted its stake in Edwards Lifesciences by 28.8% during the second quarter. Newfound Research LLC now owns 823 shares of the medical research company's stock worth $78,000 after purchasing an additional 184 shares during the last quarter. Newbridge Financial Services Group Inc. lifted its stake in Edwards Lifesciences by 5.7% during the second quarter. Newbridge Financial Services Group Inc. now owns 2,468 shares of the medical research company's stock worth $235,000 after purchasing an additional 132 shares during the last quarter. Westshore Wealth LLC lifted its stake in Edwards Lifesciences by 17.9% during the second quarter. Westshore Wealth LLC now owns 2,589 shares of the medical research company's stock worth $246,000 after purchasing an additional 394 shares during the last quarter. HB Wealth Management LLC lifted its stake in Edwards Lifesciences by 7.6% during the second quarter. HB Wealth Management LLC now owns 10,848 shares of the medical research company's stock worth $1,032,000 after purchasing an additional 762 shares during the last quarter. Finally, Ritholtz Wealth Management lifted its stake in Edwards Lifesciences by 31.9% during the second quarter. Ritholtz Wealth Management now owns 3,361 shares of the medical research company's stock worth $320,000 after purchasing an additional 813 shares during the last quarter. Hedge funds and other institutional investors own 81.33% of the company's stock.
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Analysts Set New Price Targets
Several equities research analysts recently weighed in on EW shares. Canaccord Genuity Group cut Edwards Lifesciences from a "buy" rating to a "hold" rating and decreased their target price for the stock from $115.00 to $106.00 in a research note on Friday, July 29th. Cowen reduced their price objective on Edwards Lifesciences from $140.00 to $125.00 in a research note on Monday, July 11th. Cowen reduced their price objective on Edwards Lifesciences from $140.00 to $125.00 in a research note on Monday, July 11th. StockNews.com upgraded Edwards Lifesciences from a "hold" rating to a "buy" rating in a research note on Wednesday, August 17th. Finally, Morgan Stanley reduced their price objective on Edwards Lifesciences from $136.00 to $119.00 and set an "overweight" rating for the company in a research note on Friday, July 15th. Three equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $125.81.
Edwards Lifesciences Price Performance
Edwards Lifesciences stock opened at $84.74 on Friday. Edwards Lifesciences Co. has a 1 year low of $82.92 and a 1 year high of $131.73. The firm has a 50 day moving average price of $97.09 and a 200 day moving average price of $101.71. The company has a market cap of $52.53 billion, a price-to-earnings ratio of 36.68, a PEG ratio of 2.49 and a beta of 1.14. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.60 and a current ratio of 3.37.
Edwards Lifesciences (NYSE:EW – Get Rating) last released its earnings results on Thursday, July 28th. The medical research company reported $0.63 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.64 by ($0.01). Edwards Lifesciences had a net margin of 27.18% and a return on equity of 24.77%. The company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.40 billion. During the same quarter in the previous year, the firm posted $0.64 earnings per share. Edwards Lifesciences's revenue for the quarter was down .2% compared to the same quarter last year. Sell-side analysts predict that Edwards Lifesciences Co. will post 2.51 earnings per share for the current year.
Insiders Place Their Bets
In other Edwards Lifesciences news, CEO Michael A. Mussallem sold 19,875 shares of the business's stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $95.88, for a total transaction of $1,905,615.00. Following the completion of the sale, the chief executive officer now directly owns 166,853 shares in the company, valued at $15,997,865.64. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Edwards Lifesciences news, CEO Michael A. Mussallem sold 19,875 shares of the business's stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $95.88, for a total transaction of $1,905,615.00. Following the completion of the sale, the chief executive officer now directly owns 166,853 shares in the company, valued at $15,997,865.64. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Larry L. Wood sold 7,242 shares of the company's stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $95.90, for a total transaction of $694,507.80. Following the completion of the transaction, the vice president now owns 202,232 shares of the company's stock, valued at $19,394,048.80. The disclosure for this sale can be found here. Insiders sold a total of 86,128 shares of company stock worth $8,223,839 over the last ninety days. 1.29% of the stock is owned by company insiders.
Edwards Lifesciences Company Profile
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Edwards Lifesciences Corporation provides products and technologies for structural heart disease, and critical care and surgical monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of heart valves; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases.
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