Rafferty Asset Management LLC Trims Stake in Edwards Lifesciences Co. (NYSE:EW)

Rafferty Asset Management LLC trimmed its holdings in shares of Edwards Lifesciences Co. (NYSE:EWFree Report) by 2.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,744 shares of the medical research company’s stock after selling 1,685 shares during the quarter. Rafferty Asset Management LLC’s holdings in Edwards Lifesciences were worth $4,708,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. DSM Capital Partners LLC purchased a new stake in shares of Edwards Lifesciences in the 4th quarter valued at approximately $28,000. Turtle Creek Wealth Advisors LLC acquired a new position in Edwards Lifesciences during the fourth quarter worth $34,000. Pingora Partners LLC purchased a new position in shares of Edwards Lifesciences during the fourth quarter worth $38,000. Operose Advisors LLC grew its stake in shares of Edwards Lifesciences by 247.0% in the third quarter. Operose Advisors LLC now owns 635 shares of the medical research company’s stock valued at $44,000 after buying an additional 452 shares in the last quarter. Finally, SRS Capital Advisors Inc. raised its holdings in shares of Edwards Lifesciences by 292.6% in the 3rd quarter. SRS Capital Advisors Inc. now owns 636 shares of the medical research company’s stock valued at $44,000 after buying an additional 474 shares during the period. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EW has been the subject of several research reports. Barclays lifted their target price on Edwards Lifesciences from $100.00 to $101.00 and gave the company an “overweight” rating in a research report on Tuesday, May 7th. OTR Global raised Edwards Lifesciences from a “mixed” rating to a “positive” rating in a research note on Tuesday, March 26th. Royal Bank of Canada increased their price target on Edwards Lifesciences from $95.00 to $101.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Wells Fargo & Company boosted their price objective on Edwards Lifesciences from $94.00 to $99.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Finally, Stifel Nicolaus lifted their price target on shares of Edwards Lifesciences from $83.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.06.

Read Our Latest Stock Analysis on Edwards Lifesciences

Edwards Lifesciences Stock Up 0.7 %

Edwards Lifesciences stock opened at $87.68 on Friday. The stock has a market capitalization of $52.84 billion, a price-to-earnings ratio of 37.79, a PEG ratio of 3.19 and a beta of 1.11. The company has a current ratio of 3.75, a quick ratio of 2.67 and a debt-to-equity ratio of 0.08. The stock has a 50 day moving average of $88.50 and a two-hundred day moving average of $82.87. Edwards Lifesciences Co. has a twelve month low of $60.57 and a twelve month high of $96.12.

Edwards Lifesciences (NYSE:EWGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The medical research company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.02. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Edwards Lifesciences had a net margin of 23.01% and a return on equity of 22.86%. As a group, research analysts expect that Edwards Lifesciences Co. will post 2.77 earnings per share for the current year.

Insider Buying and Selling at Edwards Lifesciences

In other Edwards Lifesciences news, CEO Bernard J. Zovighian purchased 580 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were purchased at an average cost of $85.74 per share, for a total transaction of $49,729.20. Following the completion of the purchase, the chief executive officer now directly owns 3,268 shares in the company, valued at $280,198.32. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Bernard J. Zovighian acquired 580 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were purchased at an average price of $85.74 per share, with a total value of $49,729.20. Following the completion of the acquisition, the chief executive officer now owns 3,268 shares in the company, valued at $280,198.32. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Donald E. Bobo, Jr. sold 14,500 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $91.01, for a total transaction of $1,319,645.00. Following the transaction, the vice president now owns 39,503 shares in the company, valued at $3,595,168.03. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 151,004 shares of company stock valued at $13,469,601. 1.29% of the stock is owned by corporate insiders.

Edwards Lifesciences Profile

(Free Report)

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.

See Also

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

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