Russell Investments Group Ltd. cut its stake in Edwards Lifesciences Corporation (NYSE:EW) by 43.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 357,116 shares of the medical research company’s stock after selling 272,786 shares during the period. Russell Investments Group Ltd. owned 0.17% of Edwards Lifesciences Corporation worth $42,235,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of EW. BlackRock Inc. raised its stake in shares of Edwards Lifesciences Corporation by 2,184.9% in the first quarter. BlackRock Inc. now owns 14,003,695 shares of the medical research company’s stock valued at $1,317,326,000 after buying an additional 13,390,818 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of Edwards Lifesciences Corporation by 29.8% in the first quarter. Alliancebernstein L.P. now owns 6,366,425 shares of the medical research company’s stock worth $598,890,000 after buying an additional 1,459,921 shares during the period. MARSHALL WACE ASIA Ltd acquired a new position in shares of Edwards Lifesciences Corporation during the first quarter worth approximately $126,959,000. Marshall Wace North America L.P. acquired a new position in shares of Edwards Lifesciences Corporation during the first quarter worth approximately $126,959,000. Finally, Wedgewood Partners Inc. acquired a new position in shares of Edwards Lifesciences Corporation during the first quarter worth approximately $106,963,000. 84.67% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Edwards Lifesciences Corporation (NYSE:EW) opened at 113.11 on Friday. The firm has a market capitalization of $23.88 billion, a price-to-earnings ratio of 34.31 and a beta of 0.63. The firm’s 50-day moving average price is $116.42 and its 200-day moving average price is $106.02. Edwards Lifesciences Corporation has a 12 month low of $81.12 and a 12 month high of $121.75.
Edwards Lifesciences Corporation (NYSE:EW) last posted its earnings results on Wednesday, July 26th. The medical research company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.20. Edwards Lifesciences Corporation had a return on equity of 27.17% and a net margin of 22.16%. The firm had revenue of $842 million during the quarter, compared to analysts’ expectations of $839.16 million. During the same period in the previous year, the firm earned $0.76 earnings per share. The company’s revenue was up 10.9% on a year-over-year basis. On average, equities analysts anticipate that Edwards Lifesciences Corporation will post $3.78 earnings per share for the current year.
A number of research analysts have recently commented on EW shares. Jefferies Group LLC reissued a “buy” rating on shares of Edwards Lifesciences Corporation in a report on Wednesday, April 26th. Vetr lowered Edwards Lifesciences Corporation from a “strong-buy” rating to a “buy” rating and set a $124.67 price target on the stock. in a report on Monday, May 15th. Royal Bank Of Canada reissued a “buy” rating on shares of Edwards Lifesciences Corporation in a report on Tuesday, May 30th. Bank of America Corporation raised their price target on Edwards Lifesciences Corporation from $120.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, May 30th. Finally, Zacks Investment Research raised Edwards Lifesciences Corporation from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a report on Monday, May 22nd. Five research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $121.13.
In other news, VP Donald E. Bobo, Jr. sold 25,000 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $116.00, for a total transaction of $2,900,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael A. Mussallem sold 32,900 shares of the company’s stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $118.05, for a total value of $3,883,845.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 149,281 shares of company stock valued at $17,331,446. Insiders own 2.13% of the company’s stock.
Edwards Lifesciences Corporation Company 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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