Sun Life Financial INC lessened its position in shares of Edwards Lifesciences Corp (NYSE:EW) by 52.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 168 shares of the medical research company’s stock after selling 185 shares during the period. Sun Life Financial INC’s holdings in Edwards Lifesciences were worth $31,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FTB Advisors Inc. bought a new stake in Edwards Lifesciences in the first quarter valued at $25,000. TRUE Private Wealth Advisors bought a new stake in Edwards Lifesciences in the second quarter valued at $26,000. Evolution Wealth Advisors LLC bought a new stake in Edwards Lifesciences in the second quarter valued at $29,000. M&R Capital Management Inc. bought a new stake in Edwards Lifesciences in the second quarter valued at $29,000. Finally, Next Capital Management LLC increased its stake in Edwards Lifesciences by 297.7% in the second quarter. Next Capital Management LLC now owns 171 shares of the medical research company’s stock valued at $32,000 after purchasing an additional 128 shares in the last quarter. 81.90% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE EW traded up $1.77 during mid-day trading on Friday, reaching $221.84. 758,211 shares of the company’s stock traded hands, compared to its average volume of 971,403. The stock has a market cap of $45.77 billion, a P/E ratio of 47.20, a PEG ratio of 2.77 and a beta of 0.87. The business has a 50-day simple moving average of $210.37 and a 200 day simple moving average of $188.23. Edwards Lifesciences Corp has a 1-year low of $136.44 and a 1-year high of $226.41. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.38 and a quick ratio of 2.48.
Several equities research analysts have weighed in on EW shares. Barclays lifted their price target on shares of Edwards Lifesciences from $160.00 to $175.00 and gave the company an “underweight” rating in a research note on Wednesday, July 24th. Morgan Stanley lifted their price target on shares of Edwards Lifesciences from $210.00 to $228.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Canaccord Genuity lifted their price target on shares of Edwards Lifesciences from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Citigroup set a $159.00 price target on shares of Edwards Lifesciences and gave the company a “sell” rating in a research note on Friday, July 26th. Finally, Credit Suisse Group lifted their price target on shares of Edwards Lifesciences from $221.00 to $226.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $204.74.
In related news, CFO Scott B. Ullem sold 7,500 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $213.44, for a total transaction of $1,600,800.00. Following the transaction, the chief financial officer now directly owns 21,064 shares in the company, valued at $4,495,900.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael A. Mussallem sold 22,850 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $184.27, for a total transaction of $4,210,569.50. Following the transaction, the chief executive officer now owns 95,770 shares in the company, valued at $17,647,537.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 175,515 shares of company stock worth $35,385,913. 1.63% of the stock is owned by corporate insiders.
Edwards Lifesciences Profile
Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States and internationally. It offers transcatheter heart valve therapy products comprising transcatheter aortic valve replacement, and transcatheter mitral and tricuspid therapies for the nonsurgical replacement of heart valves.
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