Azimuth Capital Management LLC Cuts Stake in Edwards Lifesciences Corporation (EW)

Azimuth Capital Management LLC cut its position in Edwards Lifesciences Corporation (NYSE:EW) by 0.5% during the first quarter, Holdings Channel reports. The institutional investor owned 76,965 shares of the medical research company’s stock after selling 360 shares during the period. Azimuth Capital Management LLC’s holdings in Edwards Lifesciences Corporation were worth $7,240,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Quadrant Capital Group LLC increased its position in shares of Edwards Lifesciences Corporation by 3.5% in the first quarter. Quadrant Capital Group LLC now owns 1,209 shares of the medical research company’s stock worth $109,000 after buying an additional 41 shares during the last quarter. YorkBridge Wealth Partners LLC purchased a new position in shares of Edwards Lifesciences Corporation during the first quarter worth $110,000. NEXT Financial Group Inc increased its position in shares of Edwards Lifesciences Corporation by 91.7% in the first quarter. NEXT Financial Group Inc now owns 1,045 shares of the medical research company’s stock worth $115,000 after buying an additional 500 shares during the last quarter. Advantage Investment Management LLC purchased a new position in shares of Edwards Lifesciences Corporation during the fourth quarter worth $145,000. Finally, Crawford Investment Counsel Inc. purchased a new position in shares of Edwards Lifesciences Corporation during the first quarter worth $207,000. 84.60% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Edwards Lifesciences Corporation (NYSE:EW)

Shares of Edwards Lifesciences Corporation (NYSE EW) opened at 120.15 on Friday. Edwards Lifesciences Corporation has a 12 month low of $81.12 and a 12 month high of $121.75. The stock’s 50 day moving average is $113.95 and its 200 day moving average is $99.16. The firm has a market cap of $25.21 billion, a P/E ratio of 39.94 and a beta of 0.75.

Edwards Lifesciences Corporation (NYSE:EW) last posted its earnings results on Tuesday, April 25th. The medical research company reported $0.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.12. Edwards Lifesciences Corporation had a return on equity of 25.80% and a net margin of 20.85%. The firm had revenue of $883.50 million for the quarter, compared to analysts’ expectations of $776.51 million. During the same period in the previous year, the firm earned $0.71 earnings per share. The business’s revenue was up 26.7% compared to the same quarter last year. Equities research analysts expect that Edwards Lifesciences Corporation will post $3.53 EPS for the current year.

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EW has been the topic of a number of recent analyst reports. Northland Securities set a $105.00 target price on shares of Edwards Lifesciences Corporation and gave the stock a “buy” rating in a report on Monday, March 20th. Vetr upgraded shares of Edwards Lifesciences Corporation from a “hold” rating to a “buy” rating and set a $116.04 target price on the stock in a report on Thursday, May 4th. BidaskClub upgraded shares of Edwards Lifesciences Corporation from a “buy” rating to a “strong-buy” rating in a report on Thursday. Evercore ISI upgraded shares of Edwards Lifesciences Corporation from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $98.50 to $110.00 in a report on Monday, March 27th. Finally, Jefferies Group LLC reiterated a “buy” rating on shares of Edwards Lifesciences Corporation in a report on Wednesday, April 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $120.26.

In other news, CEO Michael A. Mussallem sold 32,900 shares of the business’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $118.05, for a total transaction of $3,883,845.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Bernard J. Zovighian sold 18,050 shares of the business’s stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $109.21, for a total value of $1,971,240.50. The disclosure for this sale can be found here. Insiders have sold 284,221 shares of company stock worth $31,023,158 over the last three months. Insiders own 2.13% of the company’s stock.

Edwards Lifesciences Corporation 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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