Wendell David Associates Inc. lifted its stake in shares of Edwards Lifesciences Corp (NYSE:EW) by 30.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 6,550 shares of the medical research company’s stock after acquiring an additional 1,525 shares during the period. Wendell David Associates Inc.’s holdings in Edwards Lifesciences were worth $738,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Koch Industries Inc. raised its position in Edwards Lifesciences by 28,363.1% in the 2nd quarter. Koch Industries Inc. now owns 1,397,254 shares of the medical research company’s stock worth $1,386,000 after purchasing an additional 1,392,345 shares during the period. Atlantic Trust Group LLC raised its position in Edwards Lifesciences by 734.7% in the 3rd quarter. Atlantic Trust Group LLC now owns 914,989 shares of the medical research company’s stock worth $100,018,000 after purchasing an additional 805,370 shares during the period. Artisan Partners Limited Partnership raised its position in Edwards Lifesciences by 90.6% in the 2nd quarter. Artisan Partners Limited Partnership now owns 1,278,532 shares of the medical research company’s stock worth $151,174,000 after purchasing an additional 607,784 shares during the period. Janus Henderson Group PLC raised its position in Edwards Lifesciences by 1,135.0% in the 3rd quarter. Janus Henderson Group PLC now owns 619,703 shares of the medical research company’s stock worth $67,739,000 after purchasing an additional 569,525 shares during the period. Finally, Old Mutual Global Investors UK Ltd. raised its position in Edwards Lifesciences by 83.0% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 1,100,885 shares of the medical research company’s stock worth $120,337,000 after purchasing an additional 499,436 shares during the period. 81.61% of the stock is owned by institutional investors.
In related news, VP Donald E. Bobo, Jr. sold 5,300 shares of the business’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $101.12, for a total transaction of $535,936.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Schack Wesley W. Von sold 1,000 shares of the business’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $104.15, for a total transaction of $104,150.00. Following the transaction, the director now owns 2,622 shares in the company, valued at approximately $273,081.30. The disclosure for this sale can be found here. Insiders sold 191,520 shares of company stock worth $20,998,608 in the last 90 days. Corporate insiders own 2.13% of the company’s stock.
Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Tuesday, October 24th. The medical research company reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.02). Edwards Lifesciences had a net margin of 22.47% and a return on equity of 27.22%. The firm had revenue of $821.50 million during the quarter, compared to analysts’ expectations of $833.85 million. During the same quarter in the previous year, the firm posted $0.68 EPS. Edwards Lifesciences’s revenue was up 11.1% compared to the same quarter last year. equities research analysts expect that Edwards Lifesciences Corp will post 3.76 EPS for the current fiscal year.
Edwards Lifesciences declared that its Board of Directors has initiated a stock repurchase plan on Thursday, December 7th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
A number of equities analysts recently commented on EW shares. Zacks Investment Research cut shares of Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Cowen set a $135.00 target price on shares of Edwards Lifesciences and gave the stock a “buy” rating in a research report on Sunday, December 10th. Deutsche Bank decreased their target price on shares of Edwards Lifesciences from $122.00 to $115.00 and set a “hold” rating on the stock in a research report on Thursday, October 26th. Evercore ISI started coverage on shares of Edwards Lifesciences in a research report on Wednesday, January 3rd. They issued an “outperform” rating and a $140.00 target price on the stock. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $137.00 target price on shares of Edwards Lifesciences in a research report on Wednesday, November 29th. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $129.57.
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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