Sei Investments Co. grew its stake in Edwards Lifesciences Co. (NYSE:EW) by 46.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 548,181 shares of the medical research company’s stock after acquiring an additional 173,911 shares during the quarter. Sei Investments Co. owned about 0.09% of Edwards Lifesciences worth $45,889,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its stake in Edwards Lifesciences by 5.7% during the fourth quarter. Bank of New York Mellon Corp now owns 21,783,830 shares of the medical research company’s stock worth $1,987,339,000 after acquiring an additional 1,181,085 shares during the last quarter. Brown Advisory Inc. increased its stake in Edwards Lifesciences by 7.1% during the fourth quarter. Brown Advisory Inc. now owns 13,581,363 shares of the medical research company’s stock worth $1,239,027,000 after acquiring an additional 895,789 shares during the last quarter. Alliancebernstein L.P. increased its stake in Edwards Lifesciences by 1.9% during the first quarter. Alliancebernstein L.P. now owns 13,076,383 shares of the medical research company’s stock worth $1,093,709,000 after acquiring an additional 239,765 shares during the last quarter. Janus Henderson Group PLC increased its stake in Edwards Lifesciences by 32.1% during the fourth quarter. Janus Henderson Group PLC now owns 9,741,014 shares of the medical research company’s stock worth $888,674,000 after acquiring an additional 2,365,014 shares during the last quarter. Finally, Norges Bank acquired a new stake in Edwards Lifesciences during the fourth quarter worth about $689,483,000. Hedge funds and other institutional investors own 80.45% of the company’s stock.
Several equities research analysts have recently weighed in on the company. Barclays assumed coverage on Edwards Lifesciences in a research report on Monday, May 24th. They issued an “overweight” rating and a $110.00 target price for the company. Canaccord Genuity upped their target price on Edwards Lifesciences from $94.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, April 21st. Raymond James upped their target price on Edwards Lifesciences from $96.00 to $101.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 21st. Wells Fargo & Company upped their target price on Edwards Lifesciences from $87.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 21st. Finally, Atlantic Securities started coverage on Edwards Lifesciences in a research report on Thursday, April 15th. They issued a “neutral” rating and a $85.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $100.60.
Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Monday, April 19th. The medical research company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.07. Edwards Lifesciences had a return on equity of 27.63% and a net margin of 19.02%. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the firm earned $0.50 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, equities analysts predict that Edwards Lifesciences Co. will post 2.2 EPS for the current fiscal year.
In other news, VP Catherine M. Szyman sold 3,389 shares of the firm’s stock in a transaction on Monday, March 15th. The stock was sold at an average price of $81.66, for a total transaction of $276,745.74. Also, VP Catherine M. Szyman sold 4,665 shares of the firm’s stock in a transaction on Tuesday, May 25th. The stock was sold at an average price of $96.09, for a total value of $448,259.85. Following the sale, the vice president now directly owns 29,766 shares of the company’s stock, valued at $2,860,214.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 235,941 shares of company stock worth $21,331,732. 1.35% of the stock is owned by insiders.
Edwards Lifesciences Company Profile
Edwards Lifesciences Corporation provides products and technologies for structural heart disease, and critical care and surgical monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of heart valves; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases.
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