SVB Wealth LLC Increases Stake in Edwards Lifesciences Co. (NYSE:EW)

SVB Wealth LLC raised its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 23.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,059 shares of the medical research company’s stock after acquiring an additional 1,150 shares during the period. SVB Wealth LLC’s holdings in Edwards Lifesciences were worth $462,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Invesco LLC purchased a new stake in Edwards Lifesciences during the 4th quarter valued at approximately $339,000. Cullen Investment Group LTD. purchased a new stake in Edwards Lifesciences during the 4th quarter valued at approximately $1,379,000. Carnegie Capital Asset Management LLC grew its holdings in Edwards Lifesciences by 12.4% during the 4th quarter. Carnegie Capital Asset Management LLC now owns 6,370 shares of the medical research company’s stock valued at $486,000 after buying an additional 701 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in Edwards Lifesciences during the 4th quarter valued at approximately $2,798,000. Finally, Simplicity Solutions LLC boosted its position in shares of Edwards Lifesciences by 27.5% during the 4th quarter. Simplicity Solutions LLC now owns 15,112 shares of the medical research company’s stock valued at $1,152,000 after acquiring an additional 3,255 shares during the last quarter. 79.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Edwards Lifesciences

In other Edwards Lifesciences news, CFO Scott B. Ullem sold 7,255 shares of Edwards Lifesciences stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $94.89, for a total value of $688,426.95. Following the transaction, the chief financial officer now owns 19,074 shares in the company, valued at $1,809,931.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Heisz Leslie Stone sold 7,056 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $86.45, for a total transaction of $609,991.20. Following the sale, the director now owns 26,980 shares in the company, valued at $2,332,421. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Scott B. Ullem sold 7,255 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $94.89, for a total value of $688,426.95. Following the sale, the chief financial officer now owns 19,074 shares in the company, valued at approximately $1,809,931.86. The disclosure for this sale can be found here. Insiders have sold 194,004 shares of company stock worth $17,166,254 over the last quarter. Insiders own 1.29% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on EW shares. Bank of America upgraded Edwards Lifesciences from a “neutral” rating to a “buy” rating in a research report on Thursday, March 7th. Royal Bank of Canada raised their price target on Edwards Lifesciences from $95.00 to $101.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Wells Fargo & Company upgraded Edwards Lifesciences from an “equal weight” rating to an “overweight” rating and set a $94.00 target price for the company in a research report on Friday, February 2nd. Evercore ISI lifted their target price on Edwards Lifesciences from $86.00 to $92.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. Finally, Morgan Stanley lifted their target price on Edwards Lifesciences from $95.00 to $103.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Edwards Lifesciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.73.

Edwards Lifesciences Stock Performance

Shares of Edwards Lifesciences stock opened at $85.94 on Friday. The firm has a market cap of $51.73 billion, a P/E ratio of 37.37, a P/E/G ratio of 4.29 and a beta of 1.05. The company has a current ratio of 3.38, a quick ratio of 2.40 and a debt-to-equity ratio of 0.09. Edwards Lifesciences Co. has a 12 month low of $60.57 and a 12 month high of $96.12. The stock’s fifty day moving average price is $90.15 and its 200-day moving average price is $78.37.

Edwards Lifesciences (NYSE:EW) last posted its earnings results on Tuesday, February 6th. The medical research company reported $0.64 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.64. Edwards Lifesciences had a return on equity of 23.56% and a net margin of 23.35%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. On average, equities research analysts expect that Edwards Lifesciences Co. will post 2.76 earnings per share for the current fiscal year.

About Edwards Lifesciences

Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of aortic heart valves under the Edwards SAPIEN family of valves system; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases under the PASCAL PRECISION and Cardioband names.