Country Trust Bank bought a new stake in Edwards Lifesciences Corp (NYSE:EW) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 37,650 shares of the medical research company’s stock, valued at approximately $4,244,000.
A number of other institutional investors have also added to or reduced their stakes in EW. CIBC World Markets Inc. lifted its holdings in Edwards Lifesciences by 49.8% in the second quarter. CIBC World Markets Inc. now owns 11,489 shares of the medical research company’s stock valued at $1,358,000 after acquiring an additional 3,817 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Edwards Lifesciences by 13.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,504 shares of the medical research company’s stock worth $769,000 after buying an additional 773 shares during the last quarter. Stephens Inc. AR raised its stake in shares of Edwards Lifesciences by 1.2% during the 2nd quarter. Stephens Inc. AR now owns 7,831 shares of the medical research company’s stock worth $926,000 after buying an additional 91 shares during the last quarter. Norinchukin Bank The raised its stake in shares of Edwards Lifesciences by 5.4% during the 2nd quarter. Norinchukin Bank The now owns 14,559 shares of the medical research company’s stock worth $1,721,000 after buying an additional 750 shares during the last quarter. Finally, Captrust Financial Advisors acquired a new position in shares of Edwards Lifesciences during the 2nd quarter worth $149,000. 81.36% of the stock is owned by institutional investors.
Shares of Edwards Lifesciences Corp (NYSE:EW) opened at $119.99 on Friday. The company has a market capitalization of $25,390.00, a PE ratio of 34.88, a P/E/G ratio of 1.86 and a beta of 0.51. Edwards Lifesciences Corp has a 52-week low of $86.55 and a 52-week high of $121.45. 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 announced that its board has approved a stock repurchase plan on Thursday, December 7th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the medical research company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Several research analysts have recently issued reports on EW shares. Cowen set a $135.00 price target on Edwards Lifesciences and gave the stock a “buy” rating in a research note on Sunday, December 10th. BMO Capital Markets reaffirmed a “buy” rating and set a $137.00 price target on shares of Edwards Lifesciences in a research note on Friday, December 8th. Canaccord Genuity reaffirmed a “buy” rating and set a $137.00 price target on shares of Edwards Lifesciences in a research note on Wednesday, November 29th. SunTrust Banks set a $124.00 price target on Edwards Lifesciences and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Finally, Barclays cut their price target on Edwards Lifesciences from $120.00 to $118.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 25th. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Edwards Lifesciences currently has an average rating of “Buy” and a consensus target price of $129.57.
In other Edwards Lifesciences news, CEO Michael A. Mussallem sold 32,900 shares of Edwards Lifesciences stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $100.93, for a total value of $3,320,597.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,300 shares of Edwards Lifesciences stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $116.45, for a total value of $617,185.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 210,480 shares of company stock valued at $23,056,527. 2.13% of the stock is currently owned by company insiders.
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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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