Seven Bridges Advisors LLC Decreases Stake in Edwards Lifesciences Corp. (EW)
Seven Bridges Advisors LLC lowered its stake in Edwards Lifesciences Corp. (NYSE:EW) by 2.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,502 shares of the medical research company’s stock after selling 95 shares during the period. Seven Bridges Advisors LLC’s holdings in Edwards Lifesciences Corp. were worth $349,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of EW. Norges Bank bought a new position in Edwards Lifesciences Corp. during the fourth quarter worth $131,001,000. Renaissance Technologies LLC increased its position in Edwards Lifesciences Corp. by 50.7% in the first quarter. Renaissance Technologies LLC now owns 1,665,800 shares of the medical research company’s stock worth $146,940,000 after buying an additional 560,700 shares during the period. Franklin Resources Inc. increased its position in Edwards Lifesciences Corp. by 12.8% in the first quarter. Franklin Resources Inc. now owns 3,163,498 shares of the medical research company’s stock worth $279,058,000 after buying an additional 358,872 shares during the period. NN Investment Partners Holdings N.V. bought a new position in Edwards Lifesciences Corp. during the first quarter worth $28,230,000. Finally, Canada Pension Plan Investment Board increased its position in Edwards Lifesciences Corp. by 270.0% in the first quarter. Canada Pension Plan Investment Board now owns 379,592 shares of the medical research company’s stock worth $33,484,000 after buying an additional 277,000 shares during the period. 85.21% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Edwards Lifesciences Corp. (NYSE:EW) traded up 0.58% on Tuesday, hitting $117.42. 882,316 shares of the stock traded hands. The stock has a market cap of $25.00 billion, a price-to-earnings ratio of 48.52 and a beta of 0.60. Edwards Lifesciences Corp. has a 52 week low of $66.57 and a 52 week high of $118.92. The stock has a 50 day moving average price of $115.11 and a 200-day moving average price of $104.35.
Edwards Lifesciences Corp. (NYSE:EW) last announced its quarterly earnings results on Tuesday, July 26th. The medical research company reported $0.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.06. The company had revenue of $759.30 million for the quarter, compared to analysts’ expectations of $724.26 million. Edwards Lifesciences Corp. had a net margin of 19.26% and a return on equity of 23.72%. Edwards Lifesciences Corp.’s revenue was up 23.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.57 EPS. On average, equities research analysts forecast that Edwards Lifesciences Corp. will post $2.88 EPS for the current year.
EW has been the topic of a number of analyst reports. Zacks Investment Research downgraded Edwards Lifesciences Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 12th. Canaccord Genuity increased their price target on Edwards Lifesciences Corp. from $123.00 to $132.00 and gave the company a “buy” rating in a research note on Monday, May 23rd. Piper Jaffray Cos. reissued an “overweight” rating and issued a $123.00 price target on shares of Edwards Lifesciences Corp. in a research note on Wednesday, May 25th. Guggenheim assumed coverage on shares of Edwards Lifesciences Corp. in a research report on Wednesday, June 8th. They issued a “neutral” rating for the company. Finally, Evercore ISI restated a “hold” rating and issued a $115.00 price objective on shares of Edwards Lifesciences Corp. in a research report on Friday, August 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-one have given a buy rating to the stock. Edwards Lifesciences Corp. presently has a consensus rating of “Buy” and a consensus target price of $118.13.
In other Edwards Lifesciences Corp. news, VP Huimin Wang sold 13,650 shares of the stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $115.72, for a total value of $1,579,578.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Donald E. Bobo, Jr. sold 18,000 shares of the stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $115.78, for a total transaction of $2,084,040.00. The disclosure for this sale can be found here. Corporate insiders own 2.37% of the company’s stock.
Edwards Lifesciences Corp. Company Profile
Edwards Lifesciences Corporation is focused on technologies that treat structural heart disease and critically ill patients. The Company manufactures heart valve systems and repair products used to replace or repair a patient’s diseased or defective heart valve. It develops hemodynamic monitoring systems used to measure a patient’s cardiovascular function in the hospital setting.
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