Wealth Enhancement Advisory Services LLC Takes Position in Edwards Lifesciences Corporation (EW)

Wealth Enhancement Advisory Services LLC acquired a new position in shares of Edwards Lifesciences Corporation (NYSE:EW) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 7,405 shares of the medical research company’s stock, valued at approximately $870,000.

A number of other institutional investors have also made changes to their positions in EW. BlackRock Inc. boosted its position 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 worth $1,317,326,000 after buying an additional 13,390,818 shares during the last quarter. Alliancebernstein L.P. boosted 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 last quarter. MARSHALL WACE ASIA Ltd acquired a new position in shares of Edwards Lifesciences Corporation during the first quarter worth about $126,959,000. Marshall Wace North America L.P. acquired a new position in shares of Edwards Lifesciences Corporation during the first quarter worth about $126,959,000. Finally, Wedgewood Partners Inc. acquired a new position in shares of Edwards Lifesciences Corporation during the first quarter worth about $106,963,000. 84.67% of the stock is currently owned by hedge funds and other institutional investors.

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. Edwards Lifesciences Corporation has a 1-year low of $81.12 and a 1-year high of $121.75. The stock’s 50 day moving average is $116.42 and its 200 day moving average is $106.02.

Edwards Lifesciences Corporation (NYSE:EW) last released its quarterly earnings data on Wednesday, July 26th. The medical research company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.20. Edwards Lifesciences Corporation had a net margin of 22.16% and a return on equity of 27.17%. The firm had revenue of $842 million for the quarter, compared to analyst estimates of $839.16 million. During the same period last year, the firm earned $0.76 earnings per share. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. Analysts predict that Edwards Lifesciences Corporation will post $3.78 EPS for the current fiscal year.

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EW has been the topic of a number of recent research reports. Vetr cut shares of Edwards Lifesciences Corporation from a “strong-buy” rating to a “buy” rating and set a $124.67 price objective on the stock. in a research note on Monday, May 15th. Zacks Investment Research raised shares of Edwards Lifesciences Corporation from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a research report on Monday, May 22nd. Goldman Sachs Group, Inc. (The) initiated coverage on shares of Edwards Lifesciences Corporation in a research report on Tuesday, May 16th. They set a “conviction-buy” rating and a $138.00 price target on the stock. Canaccord Genuity reissued a “buy” rating and set a $150.00 price target on shares of Edwards Lifesciences Corporation in a research report on Wednesday, June 28th. Finally, Barclays PLC lifted their price target on shares of Edwards Lifesciences Corporation from $108.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 27th. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $121.13.

In related news, CEO Michael A. Mussallem sold 32,900 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $115.99, for a total transaction of $3,816,071.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 25,000 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $116.00, for a total transaction of $2,900,000.00. The disclosure for this sale can be found here. Insiders have sold 149,281 shares of company stock worth $17,331,446 over the last three months. 2.13% of the stock is owned by insiders.

About Edwards Lifesciences Corporation

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.

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

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