NewEdge Advisors LLC Raises Stake in Edwards Lifesciences Co. (NYSE:EW)

NewEdge Advisors LLC increased its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 33.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 71,059 shares of the medical research company’s stock after buying an additional 17,841 shares during the period. NewEdge Advisors LLC’s holdings in Edwards Lifesciences were worth $6,564,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in EW. Price T Rowe Associates Inc. MD increased its position in Edwards Lifesciences by 57.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,516,260 shares of the medical research company’s stock worth $622,695,000 after buying an additional 2,390,137 shares during the last quarter. CCLA Investment Management raised its stake in Edwards Lifesciences by 100,739.7% in the 1st quarter. CCLA Investment Management now owns 1,406,714 shares of the medical research company’s stock valued at $134,092,000 after acquiring an additional 1,405,319 shares during the period. Swedbank AB purchased a new stake in Edwards Lifesciences during the first quarter valued at about $124,511,000. Sei Investments Co. raised its position in shares of Edwards Lifesciences by 162.7% in the first quarter. Sei Investments Co. now owns 1,465,719 shares of the medical research company’s stock valued at $140,064,000 after purchasing an additional 907,688 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Edwards Lifesciences by 4.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 19,782,909 shares of the medical research company’s stock valued at $1,827,347,000 after buying an additional 809,605 shares in the last quarter. Institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Stock Down 1.4 %

Shares of NYSE EW opened at $65.09 on Wednesday. The stock has a market capitalization of $39.22 billion, a P/E ratio of 28.05, a PEG ratio of 2.80 and a beta of 1.13. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.71 and a quick ratio of 2.87. Edwards Lifesciences Co. has a one year low of $58.93 and a one year high of $96.12. The firm’s 50 day simple moving average is $66.90 and its two-hundred day simple moving average is $81.50.

Edwards Lifesciences (NYSE:EW) last issued its earnings results on Wednesday, July 24th. The medical research company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter last year, the company earned $0.66 EPS. The firm’s revenue was up 6.7% compared to the same quarter last year. As a group, analysts expect that Edwards Lifesciences Co. will post 2.71 EPS for the current fiscal year.

Analysts Set New Price Targets

EW has been the topic of a number of analyst reports. Wells Fargo & Company lowered their target price on shares of Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Monday, September 9th. Baird R W cut Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 25th. Canaccord Genuity Group reduced their target price on Edwards Lifesciences from $85.00 to $77.00 and set a “hold” rating for the company in a report on Thursday, July 25th. The Goldman Sachs Group decreased their price target on Edwards Lifesciences from $107.00 to $91.00 and set a “buy” rating on the stock in a research report on Friday, July 26th. Finally, Jefferies Financial Group lowered shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and cut their price objective for the company from $85.00 to $70.00 in a research report on Wednesday, September 18th. Sixteen analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $78.23.

Insider Transactions at Edwards Lifesciences

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $66.08, for a total transaction of $330,400.00. Following the transaction, the vice president now directly owns 46,936 shares in the company, valued at approximately $3,101,530.88. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total value of $330,400.00. Following the transaction, the vice president now owns 46,936 shares in the company, valued at $3,101,530.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Daveen Chopra sold 1,250 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total transaction of $87,437.50. Following the sale, the vice president now owns 29,333 shares of the company’s stock, valued at $2,051,843.35. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,250 shares of company stock worth $1,218,138. Company insiders own 1.29% of the company’s stock.

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.