Wedgewood Partners Inc. lessened its position in shares of Edwards Lifesciences Corp (NYSE:EW) by 0.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,339,762 shares of the medical research company’s stock after selling 3,285 shares during the quarter. Edwards Lifesciences comprises about 6.1% of Wedgewood Partners Inc.’s holdings, making the stock its 6th largest position. Wedgewood Partners Inc.’s holdings in Edwards Lifesciences were worth $151,004,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Cerebellum GP LLC purchased a new stake in shares of Edwards Lifesciences during the 4th quarter valued at approximately $128,000. Resources Investment Advisors Inc. raised its position in shares of Edwards Lifesciences by 66.0% during the 4th quarter. Resources Investment Advisors Inc. now owns 1,170 shares of the medical research company’s stock valued at $132,000 after buying an additional 465 shares during the period. Exane Derivatives raised its position in shares of Edwards Lifesciences by 381.3% during the 4th quarter. Exane Derivatives now owns 1,213 shares of the medical research company’s stock valued at $137,000 after buying an additional 961 shares during the period. Dupont Capital Management Corp purchased a new stake in shares of Edwards Lifesciences during the 3rd quarter valued at approximately $142,000. Finally, Diversified Trust Co purchased a new stake in shares of Edwards Lifesciences during the 4th quarter valued at approximately $209,000. 82.86% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently commented on EW. JMP Securities lifted their price target on shares of Edwards Lifesciences from $135.00 to $140.00 and gave the company a “market outperform” rating in a research report on Friday, February 2nd. SunTrust Banks reaffirmed a “buy” rating and set a $150.00 price target on shares of Edwards Lifesciences in a research report on Wednesday, January 31st. Guggenheim reaffirmed a “buy” rating and set a $162.00 price target on shares of Edwards Lifesciences in a research report on Friday, February 2nd. Canaccord Genuity reaffirmed a “buy” rating and set a $137.00 price target on shares of Edwards Lifesciences in a research report on Wednesday, November 29th. Finally, JPMorgan Chase & Co. lowered shares of Edwards Lifesciences from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 2nd. Three investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $141.15.
Edwards Lifesciences (NYSE:EW) last announced its earnings results on Thursday, February 1st. The medical research company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.03. The company had revenue of $888.50 million for the quarter, compared to analyst estimates of $868.45 million. Edwards Lifesciences had a return on equity of 27.78% and a net margin of 18.11%. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.75 earnings per share. analysts predict that Edwards Lifesciences Corp will post 4.49 EPS for the current fiscal year.
Edwards Lifesciences declared that its board has approved a stock buyback program on Thursday, December 7th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the medical research company to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.
In other Edwards Lifesciences news, VP Larry L. Wood sold 18,960 shares of the business’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $114.58, for a total value of $2,172,436.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jean-Luc M. Lemercier sold 5,633 shares of the business’s stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $136.29, for a total transaction of $767,721.57. Following the completion of the transaction, the vice president now owns 44,298 shares of the company’s stock, valued at approximately $6,037,374.42. The disclosure for this sale can be found here. In the last 90 days, insiders sold 184,563 shares of company stock valued at $22,358,569. Insiders own 2.13% of the company’s stock.
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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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