Cigna Investments Inc. New Buys New Stake in Edwards Lifesciences Corporation (NYSE:EW)

Cigna Investments Inc. New bought a new position in shares of Edwards Lifesciences Corporation (NYSE:EW) during the second quarter, Holdings Channel reports. The institutional investor bought 8,208 shares of the medical research company’s stock, valued at approximately $971,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in shares of Edwards Lifesciences Corporation by 2,184.9% in the first quarter. BlackRock Inc. now owns 14,003,695 shares of the medical research company’s stock worth $1,317,326,000 after buying an additional 13,390,818 shares in the last quarter. Egerton Capital UK LLP purchased a new stake in Edwards Lifesciences Corporation during the second quarter valued at approximately $217,805,000. Alliancebernstein L.P. boosted its stake in Edwards Lifesciences Corporation by 29.8% in the first quarter. Alliancebernstein L.P. now owns 6,366,425 shares of the medical research company’s stock valued at $598,890,000 after buying an additional 1,459,921 shares during the period. MARSHALL WACE ASIA Ltd purchased a new stake in Edwards Lifesciences Corporation during the first quarter valued at approximately $126,959,000. Finally, Marshall Wace North America L.P. purchased a new stake in Edwards Lifesciences Corporation during the first quarter valued at approximately $126,959,000. 84.15% of the stock is currently owned by hedge funds and other institutional investors.

Edwards Lifesciences Corporation (NYSE:EW) opened at 114.13 on Friday. The stock’s 50 day moving average is $117.06 and its 200-day moving average is $105.21. The firm has a market capitalization of $24.10 billion, a PE ratio of 34.62 and a beta of 0.63. 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 consensus estimate of $0.88 by $0.20. Edwards Lifesciences Corporation had a return on equity of 27.17% and a net margin of 22.16%. The company had revenue of $842 million during the quarter, compared to analysts’ expectations of $839.16 million. During the same period in the prior year, the business earned $0.76 earnings per share. Edwards Lifesciences Corporation’s revenue for the quarter was up 10.9% compared to the same quarter last year. Equities analysts expect that Edwards Lifesciences Corporation will post $3.78 earnings per share for the current year.

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Several analysts have recently commented on the stock. BidaskClub upgraded shares of Edwards Lifesciences Corporation from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 22nd. Canaccord Genuity restated a “buy” rating and issued a $150.00 target price on shares of Edwards Lifesciences Corporation in a research note on Wednesday, June 28th. Zacks Investment Research cut shares of Edwards Lifesciences Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, June 8th. Jefferies Group LLC restated a “buy” rating and issued a $115.00 target price on shares of Edwards Lifesciences Corporation in a research note on Friday, June 30th. Finally, SunTrust Banks, Inc. raised their target price on shares of Edwards Lifesciences Corporation to $14.00 and gave the stock a “buy” rating in a research note on Monday, July 17th. Five investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $121.13.

In related news, VP Patrick B. Verguet sold 11,500 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $111.64, for a total value of $1,283,860.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,300 shares of the firm’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $114.68, for a total value of $607,804.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 183,412 shares of company stock valued at $21,176,230. 2.13% of the stock is owned by company insiders.

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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Institutional Ownership by Quarter for Edwards Lifesciences Corporation (NYSE:EW)

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