Aberdeen Group plc lessened its stake in shares of Edwards Lifesciences Corporation (NYSE:EW – Free Report) by 2.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 508,632 shares of the medical research company’s stock after selling 13,543 shares during the quarter. Aberdeen Group plc owned approximately 0.09% of Edwards Lifesciences worth $39,261,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in EW. True Wealth Design LLC raised its holdings in Edwards Lifesciences by 251.5% in the third quarter. True Wealth Design LLC now owns 362 shares of the medical research company’s stock worth $28,000 after purchasing an additional 259 shares in the last quarter. NewSquare Capital LLC grew its position in shares of Edwards Lifesciences by 57.8% in the 2nd quarter. NewSquare Capital LLC now owns 366 shares of the medical research company’s stock worth $29,000 after buying an additional 134 shares during the last quarter. Hantz Financial Services Inc. raised its stake in shares of Edwards Lifesciences by 76.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 378 shares of the medical research company’s stock worth $29,000 after acquiring an additional 164 shares in the last quarter. Rakuten Securities Inc. lifted its position in Edwards Lifesciences by 413.7% during the second quarter. Rakuten Securities Inc. now owns 375 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 302 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. purchased a new stake in Edwards Lifesciences during the third quarter valued at approximately $30,000. 79.46% of the stock is currently owned by hedge funds and other institutional investors.
Edwards Lifesciences Stock Down 0.8%
Shares of EW opened at $75.80 on Tuesday. The company has a market capitalization of $43.99 billion, a price-to-earnings ratio of 41.42, a PEG ratio of 1.99 and a beta of 0.94. Edwards Lifesciences Corporation has a 52 week low of $65.94 and a 52 week high of $87.89. The stock’s 50-day moving average price is $83.17 and its 200-day moving average price is $81.06. The company has a quick ratio of 3.29, a current ratio of 4.00 and a debt-to-equity ratio of 0.06.
Analysts Set New Price Targets
A number of research firms have recently weighed in on EW. Robert W. Baird set a $90.00 price objective on Edwards Lifesciences in a research report on Monday, January 12th. Wells Fargo & Company increased their price target on Edwards Lifesciences from $96.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, February 11th. Mizuho raised their price target on Edwards Lifesciences from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Raymond James Financial upgraded shares of Edwards Lifesciences from a “market perform” rating to an “outperform” rating and set a $96.00 price objective on the stock in a report on Monday, November 3rd. Finally, Royal Bank Of Canada increased their price objective on shares of Edwards Lifesciences from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, December 5th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $96.14.
Read Our Latest Stock Analysis on EW
Insider Activity at Edwards Lifesciences
In other news, VP Donald E. Bobo, Jr. sold 11,340 shares of the stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $85.66, for a total transaction of $971,384.40. Following the sale, the vice president directly owned 31,870 shares of the company’s stock, valued at $2,729,984.20. This represents a 26.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Scott B. Ullem sold 7,700 shares of the company’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $84.47, for a total value of $650,419.00. Following the completion of the transaction, the chief financial officer directly owned 39,898 shares of the company’s stock, valued at $3,370,184.06. The trade was a 16.18% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 43,804 shares of company stock worth $3,699,082. 0.34% of the stock is owned by company insiders.
About Edwards Lifesciences
Edwards Lifesciences is a medical technology company focused on products and therapies for structural heart disease and critical care monitoring. The company designs, develops and manufactures prosthetic heart valves and related delivery systems used in both surgical and minimally invasive (transcatheter) procedures. Its portfolio addresses a range of valvular conditions, with an emphasis on technologies that enable transcatheter aortic valve replacement (TAVR) as an alternative to open-heart surgery.
In addition to transcatheter heart valves—including the widely recognized SAPIEN family—Edwards offers surgical tissue valves and ancillary devices used by cardiac surgeons, interventional cardiologists and hospital teams.
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