Private Advisor Group LLC increased its stake in Edwards Lifesciences Corporation (NYSE:EW) by 9.5% during the third quarter, according to its most recent filing with the SEC. The fund owned 6,746 shares of the medical research company’s stock after buying an additional 583 shares during the quarter. Private Advisor Group LLC’s holdings in Edwards Lifesciences were worth $743,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. ETF Managers Group LLC purchased a new position in shares of Edwards Lifesciences in the 2nd quarter worth about $112,000. MPS Loria Financial Planners LLC purchased a new stake in Edwards Lifesciences during the second quarter valued at about $140,000. Dupont Capital Management Corp purchased a new stake in Edwards Lifesciences during the third quarter valued at about $142,000. Captrust Financial Advisors purchased a new stake in Edwards Lifesciences during the second quarter valued at about $149,000. Finally, Salem Investment Counselors Inc. lifted its holdings in Edwards Lifesciences by 16.3% during the second quarter. Salem Investment Counselors Inc. now owns 1,419 shares of the medical research company’s stock valued at $168,000 after purchasing an additional 199 shares during the last quarter. 81.63% of the stock is currently owned by institutional investors.
Shares of Edwards Lifesciences Corporation (EW) traded up $0.58 on Friday, hitting $118.03. The stock had a trading volume of 1,398,723 shares, compared to its average volume of 1,495,998. Edwards Lifesciences Corporation has a 12-month low of $86.55 and a 12-month high of $121.45. The company has a market capitalization of $24,977.51, a PE ratio of 32.70, a PEG ratio of 2.11 and a beta of 0.51. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.76 and a current ratio of 3.49.
Edwards Lifesciences declared that its board has authorized a stock buyback program on Thursday, December 7th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
EW has been the topic of several recent research reports. Canaccord Genuity reaffirmed a “buy” rating and set a $135.00 price objective (down from $155.00) on shares of Edwards Lifesciences in a report on Wednesday, October 25th. BMO Capital Markets reaffirmed a “buy” rating and set a $132.00 price objective on shares of Edwards Lifesciences in a report on Friday, September 1st. William Blair reaffirmed an “outperform” rating on shares of Edwards Lifesciences in a report on Monday, August 28th. SunTrust Banks set a $124.00 price objective on shares of Edwards Lifesciences and gave the company a “buy” rating in a report 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 on the stock in a report on Thursday, October 26th. Seven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $125.78.
In related news, VP Donald E. Bobo, Jr. sold 5,300 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $108.86, for a total value of $576,958.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Schack Wesley W. Von sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $104.15, for a total transaction of $104,150.00. Following the completion of the transaction, the director now owns 2,622 shares in the company, valued at $273,081.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 139,580 shares of company stock worth $14,849,205. Company insiders own 2.13% of the company’s stock.
Edwards Lifesciences Company Profile
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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