Edwards Lifesciences Corp (EW) Holdings Trimmed by Lombard Odier Asset Management Europe Ltd
Lombard Odier Asset Management Europe Ltd reduced its stake in shares of Edwards Lifesciences Corp (NYSE:EW) by 16.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,405 shares of the medical research company’s stock after selling 490 shares during the period. Lombard Odier Asset Management Europe Ltd’s holdings in Edwards Lifesciences were worth $271,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the business. Cerebellum GP LLC bought a new position in shares of Edwards Lifesciences in the 4th quarter worth about $128,000. Resources Investment Advisors Inc. lifted its position in shares of Edwards Lifesciences by 66.0% in the 4th quarter. Resources Investment Advisors Inc. now owns 1,170 shares of the medical research company’s stock worth $132,000 after buying an additional 465 shares during the last quarter. Exane Derivatives lifted its position in shares of Edwards Lifesciences by 381.3% in the 4th quarter. Exane Derivatives now owns 1,213 shares of the medical research company’s stock worth $137,000 after buying an additional 961 shares during the last quarter. Dupont Capital Management Corp bought a new position in shares of Edwards Lifesciences in the 3rd quarter worth about $142,000. Finally, Diversified Trust Co bought a new position in shares of Edwards Lifesciences in the 4th quarter worth about $209,000. 81.23% of the stock is owned by institutional investors.
A number of research firms have recently issued reports on EW. Zacks Investment Research upgraded shares of Edwards Lifesciences from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a research report on Thursday, February 8th. Guggenheim reiterated a “buy” rating and issued a $162.00 price objective on shares of Edwards Lifesciences in a research report on Friday, February 2nd. Cowen reiterated a “buy” rating and issued a $150.00 price objective on shares of Edwards Lifesciences in a research report on Thursday, February 1st. SunTrust Banks reiterated a “buy” rating and issued a $150.00 price objective on shares of Edwards Lifesciences in a research report on Wednesday, January 31st. Finally, JMP Securities lifted their price objective 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. 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 company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $141.15.
Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Thursday, February 1st. The medical research company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.03. Edwards Lifesciences had a net margin of 18.11% and a return on equity of 27.78%. The company had revenue of $888.50 million for the quarter, compared to the consensus estimate of $868.45 million. During the same period in the previous year, the firm earned $0.75 EPS. Edwards Lifesciences’s revenue was up 15.7% on a year-over-year basis. sell-side analysts anticipate that Edwards Lifesciences Corp will post 4.49 earnings per share for the current fiscal year.
Edwards Lifesciences declared that its Board of Directors has initiated a stock buyback program on Thursday, December 7th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the medical research company to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In other Edwards Lifesciences news, VP Larry L. Wood sold 6,300 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $134.27, for a total transaction of $845,901.00. Following the sale, the vice president now directly owns 116,148 shares in the company, valued at approximately $15,595,191.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William J. Phd Link sold 12,000 shares of Edwards Lifesciences stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $122.24, for a total transaction of $1,466,880.00. Following the completion of the transaction, the director now directly owns 24,596 shares in the company, valued at approximately $3,006,615.04. The disclosure for this sale can be found here. Insiders have sold a total of 178,930 shares of company stock worth $21,590,847 over the last 90 days. 2.13% of the stock is owned by insiders.
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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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