Newport Wealth Strategies Inc. cut its holdings in Edwards Lifesciences Corp (NYSE:EW) by 2.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,165 shares of the medical research company’s stock after selling 50 shares during the quarter. Newport Wealth Strategies Inc.’s holdings in Edwards Lifesciences were worth $476,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. FMR LLC grew its position in shares of Edwards Lifesciences by 7.9% in the first quarter. FMR LLC now owns 8,175,796 shares of the medical research company’s stock valued at $1,564,274,000 after purchasing an additional 598,976 shares during the last quarter. Jennison Associates LLC boosted its position in Edwards Lifesciences by 4.8% during the second quarter. Jennison Associates LLC now owns 6,039,006 shares of the medical research company’s stock worth $1,115,646,000 after acquiring an additional 275,182 shares during the last quarter. Nuveen Asset Management LLC boosted its position in Edwards Lifesciences by 8,278.5% during the second quarter. Nuveen Asset Management LLC now owns 3,951,568 shares of the medical research company’s stock worth $730,013,000 after acquiring an additional 3,904,405 shares during the last quarter. Northern Trust Corp boosted its position in Edwards Lifesciences by 2.1% during the second quarter. Northern Trust Corp now owns 2,422,599 shares of the medical research company’s stock worth $447,551,000 after acquiring an additional 48,931 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in Edwards Lifesciences by 7.1% during the first quarter. American Century Companies Inc. now owns 1,881,227 shares of the medical research company’s stock worth $359,935,000 after acquiring an additional 124,929 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

In other news, VP Catherine M. Szyman sold 1,152 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $191.70, for a total value of $220,838.40. Following the transaction, the vice president now owns 19,162 shares of the company’s stock, valued at approximately $3,673,355.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael A. Mussallem sold 22,850 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $216.70, for a total transaction of $4,951,595.00. Following the completion of the transaction, the chief executive officer now directly owns 95,770 shares in the company, valued at approximately $20,753,359. The disclosure for this sale can be found here. In the last quarter, insiders sold 155,822 shares of company stock worth $33,641,784. 1.63% of the stock is owned by company insiders.

Shares of EW traded up $6.78 during mid-day trading on Wednesday, reaching $224.81. The company had a trading volume of 1,023,783 shares, compared to its average volume of 1,245,254. The stock has a market cap of $47.71 billion, a price-to-earnings ratio of 47.83, a price-to-earnings-growth ratio of 2.89 and a beta of 0.84. The firm has a fifty day simple moving average of $219.73 and a 200-day simple moving average of $196.78. Edwards Lifesciences Corp has a fifty-two week low of $136.44 and a fifty-two week high of $229.97. The company has a current ratio of 3.38, a quick ratio of 2.48 and a debt-to-equity ratio of 0.18.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Tuesday, July 23rd. The medical research company reported $1.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.05. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.04 billion. Edwards Lifesciences had a net margin of 18.29% and a return on equity of 31.25%. Edwards Lifesciences’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter last year, the business earned $1.24 EPS. As a group, equities analysts predict that Edwards Lifesciences Corp will post 5.34 EPS for the current fiscal year.

A number of brokerages recently issued reports on EW. Morgan Stanley raised their target price on shares of Edwards Lifesciences from $210.00 to $228.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Jefferies Financial Group raised their target price on shares of Edwards Lifesciences from $210.00 to $245.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. BTIG Research restated a “hold” rating on shares of Edwards Lifesciences in a research report on Thursday, July 25th. ValuEngine lowered shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Co raised their target price on shares of Edwards Lifesciences from $220.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, September 6th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $208.42.

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

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