Neuberger Berman Group LLC lifted its holdings in shares of Edwards Lifesciences Corporation (NYSE:EW) by 2.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 909,998 shares of the medical research company’s stock after acquiring an additional 17,861 shares during the quarter. Neuberger Berman Group LLC owned 0.43% of Edwards Lifesciences worth $99,472,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in EW. ETF Managers Group LLC bought a new stake in Edwards Lifesciences in the second quarter valued at about $112,000. MPS Loria Financial Planners LLC bought a new stake in Edwards Lifesciences in the second quarter valued at about $140,000. Captrust Financial Advisors bought a new stake in Edwards Lifesciences in the second quarter valued at about $149,000. Dupont Capital Management Corp bought a new stake in Edwards Lifesciences in the third quarter valued at about $142,000. Finally, Salem Investment Counselors Inc. increased its holdings in Edwards Lifesciences by 16.3% in the second quarter. Salem Investment Counselors Inc. now owns 1,419 shares of the medical research company’s stock valued at $168,000 after buying an additional 199 shares during the last quarter. 81.82% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP Donald E. Bobo, Jr. sold 5,300 shares of the business’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $108.86, for a total transaction of $576,958.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael A. Mussallem sold 32,900 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $100.93, for a total value of $3,320,597.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 139,580 shares of company stock valued at $14,887,125. Insiders own 2.13% of the company’s stock.
Several analysts recently weighed in on EW shares. BMO Capital Markets reissued a “buy” rating and issued a $132.00 price objective on shares of Edwards Lifesciences in a report on Friday, September 1st. William Blair reissued an “outperform” rating on shares of Edwards Lifesciences in a report on Monday, August 28th. Royal Bank of Canada restated a “buy” rating and issued a $130.00 target price on shares of Edwards Lifesciences in a research note on Friday, September 1st. SunTrust Banks set a $124.00 target price on Edwards Lifesciences and gave the company a “buy” rating in a research note on Wednesday, October 25th. Finally, Morgan Stanley decreased their target price on Edwards Lifesciences from $133.00 to $120.00 and set an “overweight” rating for the company in a research note on Thursday, October 26th. Six analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $126.43.
Edwards Lifesciences Corporation (NYSE EW) opened at $114.22 on Friday. The company has a quick ratio of 2.76, a current ratio of 3.49 and a debt-to-equity ratio of 0.33. Edwards Lifesciences Corporation has a 52 week low of $86.55 and a 52 week high of $121.45. The company has a market capitalization of $24,190.27, a P/E ratio of 31.67, a price-to-earnings-growth ratio of 2.04 and a beta of 0.51.
Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings data on Tuesday, October 24th. The medical research company reported $0.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.02). The business had revenue of $821.50 million for the quarter, compared to analyst estimates of $833.85 million. Edwards Lifesciences had a return on equity of 27.22% and a net margin of 22.47%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.68 earnings per share. equities research analysts predict that Edwards Lifesciences Corporation will post 3.76 EPS for the current year.
Edwards Lifesciences announced that its Board of Directors has approved a stock buyback program on Thursday, December 7th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the medical research company to buy shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.
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About Edwards Lifesciences
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.
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