Belpointe Asset Management LLC acquired a new position in Edwards Lifesciences Corp (NYSE:EW) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,243 shares of the medical research company’s stock, valued at approximately $354,000.
Several other institutional investors have also bought and sold shares of the company. ETF Managers Group LLC purchased a new position in Edwards Lifesciences in the 2nd quarter worth $112,000. MPS Loria Financial Planners LLC purchased a new position in Edwards Lifesciences in the 2nd quarter worth $140,000. Captrust Financial Advisors purchased a new position in Edwards Lifesciences in the 2nd quarter worth $149,000. Dupont Capital Management Corp purchased a new position in Edwards Lifesciences in the 3rd quarter worth $142,000. Finally, Salem Investment Counselors Inc. raised its stake in Edwards Lifesciences by 16.3% in the 2nd quarter. Salem Investment Counselors Inc. now owns 1,419 shares of the medical research company’s stock worth $168,000 after acquiring an additional 199 shares during the last quarter. 81.82% of the stock is owned by hedge funds and other institutional investors.
Edwards Lifesciences Corp (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 Corp has a 52 week low of $86.55 and a 52 week high of $121.45. The firm has a market capitalization of $24,175.47, a PE ratio of 31.65, a P/E/G ratio of 2.04 and a beta of 0.51.
Edwards Lifesciences announced that its board has initiated a stock buyback program on Thursday, December 7th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the medical research company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.
In related news, VP Donald E. Bobo, Jr. sold 5,300 shares of Edwards Lifesciences stock in a transaction dated Friday, September 29th. The stock was 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 this hyperlink. Also, Director Schack Wesley W. Von sold 1,000 shares of Edwards Lifesciences stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $104.15, for a total value of $104,150.00. Following the completion of the sale, the director now owns 2,622 shares in the company, valued at $273,081.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 139,580 shares of company stock valued at $14,887,125. 2.13% of the stock is owned by company insiders.
A number of equities analysts recently issued reports on EW shares. Canaccord Genuity restated a “buy” rating and issued a $135.00 target price (down previously from $155.00) on shares of Edwards Lifesciences in a research note on Wednesday, October 25th. BMO Capital Markets restated a “buy” rating and issued a $132.00 target price on shares of Edwards Lifesciences in a research note on Friday, September 1st. William Blair restated an “outperform” rating on shares of Edwards Lifesciences in a research note on Monday, August 28th. SunTrust Banks set a $124.00 target price on Edwards Lifesciences and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Finally, Morgan Stanley reduced their price objective 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 issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $126.43.
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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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