Washington Capital Management Inc. Decreases Position in Edwards Lifesciences Corporation (EW)
Washington Capital Management Inc. cut its stake in Edwards Lifesciences Corporation (NYSE:EW) by 25.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,000 shares of the medical research company’s stock after selling 1,343 shares during the quarter. Washington Capital Management Inc.’s holdings in Edwards Lifesciences were worth $437,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Edwards Lifesciences by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 20,748,569 shares of the medical research company’s stock worth $2,453,311,000 after purchasing an additional 406,901 shares in the last quarter. BlackRock Inc. lifted its stake in Edwards Lifesciences by 0.8% in the 2nd quarter. BlackRock Inc. now owns 14,109,514 shares of the medical research company’s stock worth $1,668,309,000 after purchasing an additional 105,819 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Edwards Lifesciences by 161.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,304,536 shares of the medical research company’s stock worth $627,207,000 after purchasing an additional 3,277,726 shares in the last quarter. American Century Companies Inc. lifted its stake in Edwards Lifesciences by 7.0% in the 3rd quarter. American Century Companies Inc. now owns 2,224,010 shares of the medical research company’s stock worth $243,107,000 after purchasing an additional 144,701 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Edwards Lifesciences by 13.3% in the 2nd quarter. Wells Fargo & Company MN now owns 2,119,260 shares of the medical research company’s stock worth $250,581,000 after purchasing an additional 248,293 shares in the last quarter. 82.16% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO Michael A. Mussallem sold 32,900 shares of Edwards Lifesciences stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $106.86, for a total value of $3,515,694.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Schack Wesley W. Von sold 1,000 shares of Edwards Lifesciences stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $104.15, for a total transaction of $104,150.00. Following the completion of the sale, the director now owns 2,622 shares of the company’s stock, valued at approximately $273,081.30. The disclosure for this sale can be found here. Insiders sold a total of 191,440 shares of company stock valued at $20,645,937 in the last quarter. 2.13% of the stock is owned by insiders.
Shares of Edwards Lifesciences Corporation (EW) opened at $109.34 on Friday. The stock has a market cap of $23,138.53, a P/E ratio of 30.29, a PEG ratio of 1.96 and a beta of 0.46. The company has a current ratio of 3.49, a quick ratio of 2.76 and a debt-to-equity ratio of 0.33. Edwards Lifesciences Corporation has a 1-year low of $81.12 and a 1-year high of $121.45.
Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Tuesday, October 24th. The medical research company reported $0.84 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 analyst estimates of $833.85 million. During the same quarter in the prior year, the business earned $0.68 EPS. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. research analysts forecast that Edwards Lifesciences Corporation will post 3.75 earnings per share for the current fiscal year.
A number of research analysts have weighed in on EW shares. BMO Capital Markets reissued a “buy” rating and issued a $132.00 target price on shares of Edwards Lifesciences in a research note on Friday, September 1st. William Blair reissued an “outperform” rating on shares of Edwards Lifesciences in a research note on Monday, August 28th. Royal Bank Of Canada reissued a “buy” rating and issued a $130.00 target price on shares of Edwards Lifesciences in a research note on Friday, September 1st. Morgan Stanley decreased their target price on shares of Edwards Lifesciences from $133.00 to $120.00 and set an “overweight” rating on the stock in a research note on Thursday, October 26th. Finally, SunTrust Banks, Inc. set a $124.00 price target on shares of Edwards Lifesciences and gave the stock a “buy” rating in a report on Wednesday, October 25th. Seven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $125.17.
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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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