March Altus Capital Management LP raised its stake in Edwards Lifesciences Corp. (NYSE:EW) by 6.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 18,611 shares of the medical research company’s stock after buying an additional 1,168 shares during the period. Edwards Lifesciences Corp. makes up 14.3% of March Altus Capital Management LP’s investment portfolio, making the stock its 3rd largest position. March Altus Capital Management LP’s holdings in Edwards Lifesciences Corp. were worth $1,856,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of EW. Duncker Streett & Co. Inc. boosted its stake in Edwards Lifesciences Corp. by 10.5% in the second quarter. Duncker Streett & Co. Inc. now owns 1,264 shares of the medical research company’s stock worth $126,000 after buying an additional 120 shares during the last quarter. Oakworth Capital Inc. purchased a new stake in Edwards Lifesciences Corp. during the second quarter worth approximately $126,000. Financial Architects Inc boosted its stake in Edwards Lifesciences Corp. by 38.9% in the second quarter. Financial Architects Inc now owns 1,697 shares of the medical research company’s stock worth $169,000 after buying an additional 475 shares during the last quarter. MIG Capital LLC purchased a new stake in Edwards Lifesciences Corp. during the first quarter worth approximately $201,000. Finally, Checchi Capital Advisers LLC boosted its stake in Edwards Lifesciences Corp. by 3.9% in the second quarter. Checchi Capital Advisers LLC now owns 2,039 shares of the medical research company’s stock worth $203,000 after buying an additional 76 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.
Edwards Lifesciences Corp. (NYSE:EW) traded down 0.63% during trading on Wednesday, reaching $120.46. The company’s stock had a trading volume of 675,986 shares. Edwards Lifesciences Corp. has a 1-year low of $69.22 and a 1-year high of $121.58. The stock has a 50 day moving average price of $116.09 and a 200 day moving average price of $105.56. The stock has a market capitalization of $25.64 billion, a PE ratio of 49.78 and a beta of 0.60.
Edwards Lifesciences Corp. (NYSE:EW) last announced its quarterly earnings data on Tuesday, July 26th. The medical research company reported $0.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.06. The business earned $759.30 million during the quarter, compared to the consensus estimate of $724.26 million. Edwards Lifesciences Corp. had a return on equity of 23.72% and a net margin of 19.26%. The business’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.57 earnings per share. Analysts anticipate that Edwards Lifesciences Corp. will post $2.88 earnings per share for the current fiscal year.
EW has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Edwards Lifesciences Corp. in a report on Tuesday, July 12th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Edwards Lifesciences Corp. in a report on Wednesday, June 8th. Canaccord Genuity reaffirmed a “buy” rating and set a $132.00 price objective on shares of Edwards Lifesciences Corp. in a report on Wednesday, June 1st. BTIG Research increased their price objective on shares of Edwards Lifesciences Corp. from $122.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, July 27th. Finally, Bank of America Corp. raised shares of Edwards Lifesciences Corp. from a “neutral” rating to a “buy” rating and set a $130.00 price objective for the company in a report on Wednesday, July 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-one have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $118.13.
In other Edwards Lifesciences Corp. news, Director John T. Cardis sold 5,000 shares of the business’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $113.21, for a total transaction of $566,050.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Huimin Wang sold 13,650 shares of the business’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $115.72, for a total value of $1,579,578.00. The disclosure for this sale can be found here. 2.37% of the stock is owned by insiders.
About Edwards Lifesciences Corp.
Edwards Lifesciences Corporation is focused on technologies that treat structural heart disease and critically ill patients. The Company manufactures heart valve systems and repair products used to replace or repair a patient’s diseased or defective heart valve. It develops hemodynamic monitoring systems used to measure a patient’s cardiovascular function in the hospital setting.
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