Edwards Lifesciences Corp (EW) Stake Increased by Rhumbline Advisers

Rhumbline Advisers boosted its stake in Edwards Lifesciences Corp (NYSE:EW) by 2.8% in the 4th quarter, Holdings Channel reports. The firm owned 404,400 shares of the medical research company’s stock after acquiring an additional 10,981 shares during the quarter. Rhumbline Advisers’ holdings in Edwards Lifesciences were worth $45,580,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Wells Fargo & Company MN lifted its stake in Edwards Lifesciences by 20.2% in the 3rd quarter. Wells Fargo & Company MN now owns 2,548,282 shares of the medical research company’s stock valued at $278,553,000 after purchasing an additional 429,022 shares during the last quarter. American Century Companies Inc. lifted its stake in Edwards Lifesciences by 7.0% in the 3rd quarter. American Century Companies Inc. now owns 2,224,010 shares of the medical research company’s stock valued at $243,107,000 after purchasing an additional 144,701 shares during the last quarter. Artisan Partners Limited Partnership lifted its stake in Edwards Lifesciences by 12.0% in the 3rd quarter. Artisan Partners Limited Partnership now owns 1,432,428 shares of the medical research company’s stock valued at $156,579,000 after purchasing an additional 153,896 shares during the last quarter. Legal & General Group Plc lifted its stake in Edwards Lifesciences by 1.9% in the 3rd quarter. Legal & General Group Plc now owns 1,118,298 shares of the medical research company’s stock valued at $122,217,000 after purchasing an additional 20,931 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. lifted its stake in Edwards Lifesciences by 83.0% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 1,100,885 shares of the medical research company’s stock valued at $120,337,000 after purchasing an additional 499,436 shares during the last quarter. 81.23% of the stock is owned by institutional investors and hedge funds.

In other news, VP Donald E. Bobo, Jr. sold 3,750 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $127.54, for a total transaction of $478,275.00. Following the completion of the sale, the vice president now directly owns 19,608 shares in the company, valued at $2,500,804.32. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael A. Mussallem sold 32,800 shares of the stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $114.82, for a total transaction of $3,766,096.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 172,630 shares of company stock valued at $20,648,221. 2.13% of the stock is currently owned by corporate insiders.

Edwards Lifesciences Corp (NYSE:EW) opened at $133.82 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.81 and a quick ratio of 1.41. Edwards Lifesciences Corp has a 12-month low of $89.20 and a 12-month high of $138.48. The stock has a market cap of $28,105.37, a P/E ratio of 35.22, a price-to-earnings-growth ratio of 1.98 and a beta of 0.63.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Thursday, February 1st. The medical research company reported $0.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.03. Edwards Lifesciences had a net margin of 18.11% and a return on equity of 27.69%. The firm had revenue of $888.50 million during the quarter, compared to analysts’ expectations of $868.45 million. During the same period in the prior year, the company posted $0.75 EPS. The company’s revenue was up 15.7% on a year-over-year basis. equities research analysts predict that Edwards Lifesciences Corp will post 4.49 earnings per share for the current year.

Edwards Lifesciences announced that its board has authorized a stock buyback program on Thursday, December 7th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the medical research company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Several equities analysts recently commented on EW shares. JPMorgan Chase & Co. downgraded shares of Edwards Lifesciences from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 2nd. Barclays raised shares of Edwards Lifesciences from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $125.00 to $135.00 in a research note on Thursday, January 4th. Cowen set a $135.00 price objective on shares of Edwards Lifesciences and gave the company a “buy” rating in a research note on Sunday, December 10th. SunTrust Banks set a $124.00 price objective on shares of Edwards Lifesciences and gave the company a “buy” rating in a research note on Wednesday, October 25th. Finally, Morgan Stanley dropped their price objective on shares of Edwards Lifesciences from $133.00 to $120.00 and set an “overweight” rating for the company in a research note on Thursday, October 26th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $141.15.

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

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