Exxonmobil Investment Management Inc. TX lessened its stake in Edwards Lifesciences Corp (NYSE:EW) by 12.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,649 shares of the medical research company’s stock after selling 4,911 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Edwards Lifesciences were worth $3,793,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EW. CIBC World Markets Inc. lifted its stake in shares of Edwards Lifesciences by 49.8% in the 2nd quarter. CIBC World Markets Inc. now owns 11,489 shares of the medical research company’s stock valued at $1,358,000 after acquiring an additional 3,817 shares during the last quarter. Stephens Inc. AR lifted its stake in shares of Edwards Lifesciences by 1.2% in the 2nd quarter. Stephens Inc. AR now owns 7,831 shares of the medical research company’s stock valued at $926,000 after acquiring an additional 91 shares during the last quarter. Norinchukin Bank The lifted its stake in shares of Edwards Lifesciences by 5.4% in the 2nd quarter. Norinchukin Bank The now owns 14,559 shares of the medical research company’s stock valued at $1,721,000 after acquiring an additional 750 shares during the last quarter. Captrust Financial Advisors bought a new stake in shares of Edwards Lifesciences in the 2nd quarter valued at about $149,000. Finally, BlackRock Inc. lifted its stake in shares of Edwards Lifesciences by 0.8% in the 2nd quarter. BlackRock Inc. now owns 14,109,514 shares of the medical research company’s stock valued at $1,668,309,000 after acquiring an additional 105,819 shares during the last quarter. 81.36% of the stock is owned by institutional investors.

Edwards Lifesciences Corp (NYSE EW) opened at $120.83 on Friday. Edwards Lifesciences Corp has a twelve month low of $86.55 and a twelve month high of $121.45. The company has a current ratio of 3.49, a quick ratio of 2.76 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $25,392.27, a P/E ratio of 35.13, a price-to-earnings-growth ratio of 1.92 and a beta of 0.51.

Edwards Lifesciences (NYSE:EW) last posted its earnings results on Tuesday, October 24th. The medical research company reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.02). Edwards Lifesciences had a return on equity of 27.22% and a net margin of 22.47%. The firm had revenue of $821.50 million for the quarter, compared to analysts’ expectations of $833.85 million. During the same quarter last year, the company posted $0.68 EPS. The firm’s revenue was up 11.1% on a year-over-year basis. sell-side analysts expect that Edwards Lifesciences Corp will post 3.76 earnings per share for the current fiscal year.

Edwards Lifesciences announced that its board has authorized a stock repurchase program on Thursday, December 7th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

A number of equities research analysts have recently weighed in on the company. Canaccord Genuity reissued a “buy” rating and issued a $155.00 target price on shares of Edwards Lifesciences in a research note on Sunday, October 8th. Cowen reissued a “buy” rating and issued a $135.00 target price on shares of Edwards Lifesciences in a research note on Thursday, October 12th. Barclays lowered their price target on Edwards Lifesciences from $120.00 to $118.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 25th. JPMorgan Chase & Co. lowered Edwards Lifesciences from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 2nd. Finally, Deutsche Bank lowered their price target on Edwards Lifesciences from $122.00 to $115.00 and set a “hold” rating for the company in a research report on Thursday, October 26th. Six analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Edwards Lifesciences currently has an average rating of “Buy” and a consensus price target of $129.57.

In related news, VP Donald E. Bobo, Jr. sold 5,300 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $116.45, for a total value of $617,185.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael A. Mussallem sold 32,900 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $100.93, for a total value of $3,320,597.00. The disclosure for this sale can be found here. Insiders have sold a total of 210,480 shares of company stock worth $23,056,527 in the last quarter. Company insiders own 2.13% of the company’s stock.

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About Edwards Lifesciences

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

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