Private Advisor Group LLC lifted its stake in shares of Edwards Lifesciences Co. (NYSE:EW – Get Rating) by 27.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,554 shares of the medical research company's stock after buying an additional 8,572 shares during the period. Private Advisor Group LLC's holdings in Edwards Lifesciences were worth $3,761,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. Gateway Investment Advisers LLC lifted its stake in shares of Edwards Lifesciences by 14.3% during the second quarter. Gateway Investment Advisers LLC now owns 270,237 shares of the medical research company's stock worth $25,697,000 after buying an additional 33,877 shares during the period. Carnegie Capital Asset Management LLC purchased a new position in shares of Edwards Lifesciences during the second quarter worth $819,000. Sarasin & Partners LLP purchased a new position in shares of Edwards Lifesciences during the second quarter worth $24,108,000. Allworth Financial LP increased its holdings in Edwards Lifesciences by 2.6% in the second quarter. Allworth Financial LP now owns 5,287 shares of the medical research company's stock valued at $503,000 after buying an additional 132 shares in the last quarter. Finally, Rockland Trust Co. increased its holdings in Edwards Lifesciences by 14.6% in the second quarter. Rockland Trust Co. now owns 7,378 shares of the medical research company's stock valued at $702,000 after buying an additional 942 shares in the last quarter. 81.33% of the stock is currently owned by institutional investors and hedge funds.
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Analyst Ratings Changes
A number of research analysts have weighed in on EW shares. Canaccord Genuity Group cut shares of Edwards Lifesciences from a "buy" rating to a "hold" rating and cut their price objective for the company from $115.00 to $106.00 in a report on Friday, July 29th. Morgan Stanley cut their target price on shares of Edwards Lifesciences from $136.00 to $119.00 and set an "overweight" rating for the company in a research note on Friday, July 15th. Stifel Nicolaus cut their target price on shares of Edwards Lifesciences from $128.00 to $115.00 in a research note on Monday, July 18th. Canaccord Genuity Group cut shares of Edwards Lifesciences from a "buy" rating to a "hold" rating and cut their target price for the stock from $115.00 to $106.00 in a research note on Friday, July 29th. Finally, StockNews.com raised shares of Edwards Lifesciences from a "hold" rating to a "buy" rating in a research note on Wednesday, August 17th. Three analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $125.81.
Edwards Lifesciences Price Performance
Shares of EW opened at $84.74 on Monday. Edwards Lifesciences Co. has a fifty-two week low of $82.92 and a fifty-two week high of $131.73. The firm's 50 day moving average price is $97.09 and its 200 day moving average price is $101.65. The company has a market cap of $52.53 billion, a P/E ratio of 36.68, a PEG ratio of 2.50 and a beta of 1.14. The company has a quick ratio of 2.60, a current ratio of 3.37 and a debt-to-equity ratio of 0.10.
Edwards Lifesciences (NYSE:EW – Get Rating) last announced its quarterly earnings data on Thursday, July 28th. The medical research company reported $0.63 EPS for the quarter, meeting analysts' consensus estimates of $0.63. 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 for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the firm posted $0.64 EPS. The company's quarterly revenue was down .2% compared to the same quarter last year. On average, research analysts forecast that Edwards Lifesciences Co. will post 2.51 earnings per share for the current fiscal year.
Insider Buying and Selling at Edwards Lifesciences
In other Edwards Lifesciences news, VP Daveen Chopra sold 1,000 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $102.49, for a total value of $102,490.00. Following the sale, the vice president now directly owns 18,911 shares of the company's stock, valued at approximately $1,938,188.39. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, VP Daveen Chopra sold 1,000 shares of the company's stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $102.49, for a total value of $102,490.00. Following the completion of the transaction, the vice president now owns 18,911 shares in the company, valued at approximately $1,938,188.39. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Michael A. Mussallem sold 19,875 shares of the company's stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $84.17, for a total transaction of $1,672,878.75. Following the completion of the transaction, the chief executive officer now owns 157,353 shares of the company's stock, valued at approximately $13,244,402.01. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,128 shares of company stock valued at $8,223,839. Insiders own 1.29% of the company's stock.
Edwards Lifesciences 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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