Wedbush Securities Inc. Lowers Stake in Edwards Lifesciences Corp (EW)
Wedbush Securities Inc. trimmed its stake in Edwards Lifesciences Corp (NYSE:EW) by 30.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,986 shares of the medical research company’s stock after selling 1,324 shares during the period. Wedbush Securities Inc.’s holdings in Edwards Lifesciences were worth $435,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Sei Investments Co. boosted its stake in Edwards Lifesciences by 416.0% in the second quarter. Sei Investments Co. now owns 244,869 shares of the medical research company’s stock worth $35,645,000 after purchasing an additional 197,413 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Edwards Lifesciences in the second quarter worth $3,212,000. Traynor Capital Management Inc. acquired a new position in Edwards Lifesciences in the second quarter worth $206,000. KBC Group NV boosted its stake in Edwards Lifesciences by 71.6% in the second quarter. KBC Group NV now owns 223,164 shares of the medical research company’s stock worth $32,486,000 after purchasing an additional 93,106 shares in the last quarter. Finally, LMR Partners LLP boosted its stake in Edwards Lifesciences by 133.3% in the second quarter. LMR Partners LLP now owns 4,508 shares of the medical research company’s stock worth $656,000 after purchasing an additional 2,576 shares in the last quarter. Hedge funds and other institutional investors own 81.68% of the company’s stock.
In other Edwards Lifesciences news, VP Catherine M. Szyman sold 9,815 shares of the stock in a transaction dated Thursday, May 24th. The stock was sold at an average price of $139.39, for a total value of $1,368,112.85. Following the transaction, the vice president now owns 20,012 shares of the company’s stock, valued at $2,789,472.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Larry L. Wood sold 6,300 shares of the stock in a transaction dated Tuesday, May 15th. The shares were sold at an average price of $137.26, for a total value of $864,738.00. The disclosure for this sale can be found here. Insiders have sold 199,815 shares of company stock worth $28,388,683 in the last ninety days. 1.84% of the stock is currently owned by insiders.
Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Thursday, July 26th. The medical research company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.11. Edwards Lifesciences had a return on equity of 29.11% and a net margin of 19.59%. The business had revenue of $972.00 million for the quarter, compared to analyst estimates of $968.32 million. During the same quarter in the prior year, the firm posted $1.08 earnings per share. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. research analysts anticipate that Edwards Lifesciences Corp will post 4.66 EPS for the current fiscal year.
A number of equities analysts have commented on the company. SunTrust Banks reduced their price objective on Edwards Lifesciences to $170.00 and set a “buy” rating on the stock in a research note on Friday. ValuEngine lowered Edwards Lifesciences from a “buy” rating to a “hold” rating in a research note on Wednesday. Citigroup boosted their price objective on Edwards Lifesciences from $115.00 to $118.00 and gave the stock a “sell” rating in a research note on Tuesday, July 31st. Guggenheim reissued a “buy” rating and issued a $170.00 price objective on shares of Edwards Lifesciences in a research note on Friday, July 27th. Finally, Morgan Stanley boosted their price objective on Edwards Lifesciences from $138.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, July 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company. Edwards Lifesciences currently has an average rating of “Buy” and a consensus price target of $152.45.
Edwards Lifesciences Company Profile
Edwards Lifesciences Corporation provides products and technologies to treat structural heart disease and critically ill patients in the United States and internationally. It offers transcatheter heart valve therapy products comprising transcatheter aortic heart valves and related delivery systems for the nonsurgical replacement of heart valves.
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