Emerald Advisers Inc. PA lowered its holdings in Edwards Lifesciences Corp (NYSE:EW) by 5.1% in the 4th quarter, HoldingsChannel reports. The fund owned 7,683 shares of the medical research company’s stock after selling 415 shares during the quarter. Emerald Advisers Inc. PA’s holdings in Edwards Lifesciences were worth $866,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in EW. Cerebellum GP LLC purchased a new position in shares of Edwards Lifesciences in the fourth quarter valued at $128,000. Resources Investment Advisors Inc. boosted its stake in shares of Edwards Lifesciences by 66.0% in the fourth quarter. Resources Investment Advisors Inc. now owns 1,170 shares of the medical research company’s stock valued at $132,000 after purchasing an additional 465 shares during the period. Exane Derivatives boosted its stake in shares of Edwards Lifesciences by 381.3% in the fourth quarter. Exane Derivatives now owns 1,213 shares of the medical research company’s stock valued at $137,000 after purchasing an additional 961 shares during the period. MPS Loria Financial Planners LLC purchased a new position in shares of Edwards Lifesciences in the second quarter valued at $140,000. Finally, Dupont Capital Management Corp purchased a new position in shares of Edwards Lifesciences in the third quarter valued at $142,000. Institutional investors and hedge funds own 81.52% of the company’s stock.
Shares of Edwards Lifesciences Corp (NYSE EW) opened at $126.27 on Friday. The firm has a market cap of $26,194.31, a price-to-earnings ratio of 32.57, a price-to-earnings-growth ratio of 1.83 and a beta of 0.63. Edwards Lifesciences Corp has a twelve month low of $89.20 and a twelve month high of $138.48. The company has a current ratio of 1.81, a quick ratio of 1.41 and a debt-to-equity ratio of 0.15.
Edwards Lifesciences announced that its board has authorized a share 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 buy 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.
In related news, CEO Michael A. Mussallem sold 32,900 shares of the stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $106.86, for a total value of $3,515,694.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Larry L. Wood sold 18,960 shares of the stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $104.76, for a total transaction of $1,986,249.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 175,940 shares of company stock worth $20,049,578. Corporate insiders own 2.13% of the company’s stock.
Several brokerages have recently weighed in on EW. JMP Securities upped their target price on shares of 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 restated a “buy” rating and issued a $150.00 target price on shares of Edwards Lifesciences in a research note on Thursday, February 1st. Zacks Investment Research upgraded shares of Edwards Lifesciences from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a research note on Thursday. Canaccord Genuity restated a “buy” rating and issued a $174.00 target price (up from $140.00) on shares of Edwards Lifesciences in a research note on Friday, February 2nd. Finally, Guggenheim restated a “buy” rating and issued a $162.00 target price on shares of Edwards Lifesciences in a research note on Friday, February 2nd. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $141.15.
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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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