Westpac Banking Corp boosted its stake in shares of Edwards Lifesciences Corp (NYSE:EW) by 3.4% in the 1st quarter, HoldingsChannel reports. The fund owned 67,628 shares of the medical research company’s stock after purchasing an additional 2,231 shares during the quarter. Westpac Banking Corp’s holdings in Edwards Lifesciences were worth $12,939,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. Capital Insight Partners LLC raised its stake in Edwards Lifesciences by 0.5% during the first quarter. Capital Insight Partners LLC now owns 11,010 shares of the medical research company’s stock worth $2,107,000 after acquiring an additional 53 shares in the last quarter. Cetera Advisor Networks LLC raised its stake in Edwards Lifesciences by 3.8% during the fourth quarter. Cetera Advisor Networks LLC now owns 1,573 shares of the medical research company’s stock worth $242,000 after acquiring an additional 57 shares in the last quarter. Kentucky Retirement Systems raised its stake in Edwards Lifesciences by 0.7% during the fourth quarter. Kentucky Retirement Systems now owns 9,093 shares of the medical research company’s stock worth $1,393,000 after acquiring an additional 60 shares in the last quarter. BB&T Corp raised its stake in Edwards Lifesciences by 2.2% during the first quarter. BB&T Corp now owns 2,903 shares of the medical research company’s stock worth $556,000 after acquiring an additional 63 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings in shares of Edwards Lifesciences by 11.2% during the fourth quarter. Parallel Advisors LLC now owns 684 shares of the medical research company’s stock worth $101,000 after purchasing an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 82.12% of the company’s stock.
In other Edwards Lifesciences news, CEO Michael A. Mussallem sold 22,850 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $184.27, for a total value of $4,210,569.50. Following the transaction, the chief executive officer now owns 95,770 shares of the company’s stock, valued at $17,647,537.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Catherine M. Szyman sold 1,146 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $179.10, for a total value of $205,248.60. Following the completion of the transaction, the vice president now directly owns 22,229 shares in the company, valued at approximately $3,981,213.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 144,506 shares of company stock worth $25,924,509. 1.63% of the stock is owned by company insiders.
Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Tuesday, April 23rd. The medical research company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.09. The business had revenue of $993.00 million for the quarter, compared to analysts’ expectations of $989.87 million. Edwards Lifesciences had a return on equity of 31.16% and a net margin of 20.03%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.22 earnings per share. As a group, sell-side analysts expect that Edwards Lifesciences Corp will post 5.29 EPS for the current year.
Several brokerages have recently commented on EW. Stifel Nicolaus increased their target price on Edwards Lifesciences from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Jefferies Financial Group increased their target price on Edwards Lifesciences from $195.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Credit Suisse Group increased their target price on Edwards Lifesciences from $189.00 to $221.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. JPMorgan Chase & Co. increased their target price on Edwards Lifesciences from $175.00 to $190.00 and gave the stock a “neutral” rating in a report on Wednesday, March 27th. They noted that the move was a valuation call. Finally, BMO Capital Markets increased their target price on Edwards Lifesciences to $204.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $186.52.
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About Edwards Lifesciences
Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States and internationally. It offers transcatheter heart valve therapy products comprising transcatheter aortic valve replacement, and transcatheter mitral and tricuspid therapies for the nonsurgical replacement of heart valves.
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