WCM Investment Management CA boosted its position in Edwards Lifesciences Corp (NYSE:EW) by 11.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 371,807 shares of the medical research company’s stock after buying an additional 38,368 shares during the period. WCM Investment Management CA’s holdings in Edwards Lifesciences were worth $41,907,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Wells Fargo & Company MN boosted 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 period. American Century Companies Inc. boosted 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 period. Artisan Partners Limited Partnership boosted 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 period. Koch Industries Inc. boosted its stake in Edwards Lifesciences by 28,363.1% in the 2nd quarter. Koch Industries Inc. now owns 1,397,254 shares of the medical research company’s stock valued at $1,386,000 after purchasing an additional 1,392,345 shares during the period. Finally, Legal & General Group Plc boosted 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 period. Institutional investors and hedge funds own 81.52% of the company’s stock.
In other news, VP Robert W.A. Sellers sold 12,020 shares of the business’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $131.03, for a total transaction of $1,574,980.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,300 shares of the business’s stock in a transaction on Friday, December 28th. The stock was 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 have sold a total of 175,940 shares of company stock valued at $20,049,578 in the last three months. 2.13% of the stock is owned by insiders.
Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Thursday, February 1st. The medical research company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.03. Edwards Lifesciences had a return on equity of 27.69% and a net margin of 18.11%. The company had revenue of $888.50 million during the quarter, compared to analysts’ expectations of $868.45 million. During the same quarter in the previous year, the firm earned $0.75 EPS. Edwards Lifesciences’s revenue was up 15.7% on a year-over-year basis. research analysts expect that Edwards Lifesciences Corp will post 4.49 earnings per share for the current fiscal year.
Edwards Lifesciences declared that its Board of Directors has initiated a share repurchase program on Thursday, December 7th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the medical research company to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
Several research firms recently issued reports on EW. JMP Securities boosted their price target on Edwards Lifesciences from $135.00 to $140.00 and gave the company a “market outperform” rating in a research note on Friday, February 2nd. Cowen reiterated a “buy” rating and set a $150.00 target price on shares of Edwards Lifesciences in a research report on Thursday, February 1st. Guggenheim reiterated a “buy” rating and set a $162.00 target price on shares of Edwards Lifesciences in a research report on Friday, February 2nd. Canaccord Genuity reiterated a “buy” rating and set a $174.00 target price (up from $140.00) on shares of Edwards Lifesciences in a research report on Friday, February 2nd. Finally, Morgan Stanley upped their target price on Edwards Lifesciences from $130.00 to $138.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $139.25.
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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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