Castleark Management LLC grew its holdings in shares of Edwards Lifesciences Corp (NYSE:EW) by 56.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,460 shares of the medical research company’s stock after purchasing an additional 890 shares during the period. Castleark Management LLC’s holdings in Edwards Lifesciences were worth $277,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of EW. Cerebellum GP LLC purchased a new stake in Edwards Lifesciences during the fourth quarter worth about $128,000. Resources Investment Advisors Inc. increased its stake in Edwards Lifesciences by 66.0% during the fourth quarter. Resources Investment Advisors Inc. now owns 1,170 shares of the medical research company’s stock worth $132,000 after purchasing an additional 465 shares during the period. Exane Derivatives increased its stake in Edwards Lifesciences by 381.3% during the fourth quarter. Exane Derivatives now owns 1,213 shares of the medical research company’s stock worth $137,000 after purchasing an additional 961 shares during the period. Captrust Financial Advisors purchased a new stake in Edwards Lifesciences during the fourth quarter worth about $204,000. Finally, Diversified Trust Co acquired a new position in shares of Edwards Lifesciences during the fourth quarter worth about $209,000. Institutional investors own 82.89% of the company’s stock.
EW stock opened at $141.34 on Wednesday. The company has a quick ratio of 1.41, a current ratio of 1.80 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $29,894.77, a P/E ratio of 49.08, a P/E/G ratio of 2.09 and a beta of 0.56. Edwards Lifesciences Corp has a fifty-two week low of $92.35 and a fifty-two week high of $143.22.
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 Zacks’ consensus estimate of $0.91 by $0.03. The firm had revenue of $888.50 million during the quarter, compared to the consensus estimate of $868.45 million. Edwards Lifesciences had a return on equity of 27.78% and a net margin of 18.11%. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.75 earnings per share. equities analysts anticipate that Edwards Lifesciences Corp will post 4.53 EPS for the current fiscal year.
Edwards Lifesciences announced that its Board of Directors has authorized a share buyback plan on Thursday, December 7th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the medical research company to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
In related news, VP Huimin Wang sold 3,800 shares of the company’s stock in a transaction that occurred on Monday, March 19th. The stock was sold at an average price of $141.84, for a total value of $538,992.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,300 shares of the business’s stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $114.08, for a total value of $604,624.00. The disclosure for this sale can be found here. Insiders sold 142,903 shares of company stock valued at $17,850,415 over the last ninety days. 2.13% of the stock is currently owned by corporate insiders.
EW has been the subject of a number of analyst reports. Cowen set a $135.00 price objective on Edwards Lifesciences and gave the stock a “buy” rating in a research report on Sunday, December 10th. Evercore ISI initiated coverage on Edwards Lifesciences in a research report on Wednesday, January 3rd. They set an “outperform” rating and a $140.00 price objective for the company. Barclays raised Edwards Lifesciences from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $125.00 to $135.00 in a research report on Thursday, January 4th. Canaccord Genuity reissued a “buy” rating and set a $137.00 price objective on shares of Edwards Lifesciences in a research report on Wednesday, November 29th. Finally, Morgan Stanley boosted their price objective on Edwards Lifesciences from $130.00 to $138.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Three equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Edwards Lifesciences presently has a consensus rating of “Buy” and an average target price of $144.16.
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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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