Zurich Insurance Group Ltd FI Sells 389 Shares of Edwards Lifesciences Corp (EW)

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Zurich Insurance Group Ltd FI cut its holdings in Edwards Lifesciences Corp (NYSE:EW) by 0.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 51,296 shares of the medical research company’s stock after selling 389 shares during the quarter. Zurich Insurance Group Ltd FI’s holdings in Edwards Lifesciences were worth $7,467,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Private Capital Group LLC purchased a new position in Edwards Lifesciences during the second quarter worth $112,000. Centaurus Financial Inc. purchased a new position in Edwards Lifesciences during the second quarter worth $114,000. Optimum Investment Advisors purchased a new position in Edwards Lifesciences during the first quarter worth $110,000. Signet Financial Management LLC purchased a new position in Edwards Lifesciences during the second quarter worth $136,000. Finally, IHT Wealth Management LLC boosted its stake in Edwards Lifesciences by 84.6% during the first quarter. IHT Wealth Management LLC now owns 932 shares of the medical research company’s stock worth $126,000 after buying an additional 427 shares during the period. 82.11% of the stock is owned by hedge funds and other institutional investors.

NYSE:EW opened at $147.99 on Friday. Edwards Lifesciences Corp has a twelve month low of $100.20 and a twelve month high of $156.87. The firm has a market cap of $30.34 billion, a PE ratio of 38.94, a price-to-earnings-growth ratio of 2.00 and a beta of 0.57. The company has a quick ratio of 1.47, a current ratio of 1.86 and a debt-to-equity ratio of 0.19.

Edwards Lifesciences (NYSE:EW) last released its earnings results on Thursday, July 26th. The medical research company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.11. Edwards Lifesciences had a return on equity of 29.11% and a net margin of 19.59%. The business had revenue of $972.00 million during the quarter, compared to the consensus estimate of $968.32 million. During the same period last year, the company earned $1.08 earnings per share. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. sell-side analysts anticipate that Edwards Lifesciences Corp will post 4.67 earnings per share for the current year.

Several research firms have commented on EW. JPMorgan Chase & Co. lifted their price objective on shares of Edwards Lifesciences from $133.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, July 27th. Northland Securities reaffirmed a “hold” rating and set a $120.00 price objective on shares of Edwards Lifesciences in a research note on Friday, July 27th. Jefferies Financial Group reaffirmed a “buy” rating and set a $168.00 price objective on shares of Edwards Lifesciences in a research note on Friday, July 27th. Sanford C. Bernstein began coverage on shares of Edwards Lifesciences in a research note on Wednesday, June 27th. They set a “market perform” rating and a $165.00 price objective for the company. Finally, ValuEngine raised shares of Edwards Lifesciences from a “hold” rating to a “buy” rating in a research note on Tuesday, June 12th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $152.45.

In related news, CEO Michael A. Mussallem sold 32,900 shares of Edwards Lifesciences stock in a transaction dated Tuesday, July 31st. The stock was sold at an average price of $141.86, for a total value of $4,667,194.00. Following the completion of the sale, the chief executive officer now directly owns 43,126 shares in the company, valued at $6,117,854.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Huimin Wang sold 3,800 shares of Edwards Lifesciences stock in a transaction dated Thursday, July 5th. The shares were sold at an average price of $146.60, for a total value of $557,080.00. The disclosure for this sale can be found here. Insiders sold 177,511 shares of company stock valued at $25,420,691 over the last 90 days. 1.84% of the stock is currently owned by corporate insiders.

Edwards Lifesciences Profile

Edwards Lifesciences Corporation provides products and technologies to treat structural heart disease and critically ill patients in the United States and internationally. It offers transcatheter heart valve therapy products comprising transcatheter aortic heart valves and related delivery systems for the nonsurgical replacement of heart valves.

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

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