Zacks Investment Management Has $9.13 Million Stake in Edwards Lifesciences Corp (NYSE:EW)

Zacks Investment Management increased its stake in shares of Edwards Lifesciences Corp (NYSE:EW) by 2.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 49,432 shares of the medical research company’s stock after acquiring an additional 994 shares during the period. Zacks Investment Management’s holdings in Edwards Lifesciences were worth $9,132,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fayez Sarofim & Co boosted its stake in Edwards Lifesciences by 6.2% during the 2nd quarter. Fayez Sarofim & Co now owns 3,250 shares of the medical research company’s stock valued at $600,000 after purchasing an additional 190 shares during the period. Ledyard National Bank boosted its stake in Edwards Lifesciences by 0.5% during the 2nd quarter. Ledyard National Bank now owns 9,178 shares of the medical research company’s stock valued at $1,696,000 after purchasing an additional 50 shares during the period. Van ECK Associates Corp bought a new stake in Edwards Lifesciences during the 2nd quarter valued at approximately $159,000. Cetera Advisor Networks LLC boosted its stake in Edwards Lifesciences by 16.3% during the 2nd quarter. Cetera Advisor Networks LLC now owns 1,953 shares of the medical research company’s stock valued at $362,000 after purchasing an additional 273 shares during the period. Finally, CWM LLC boosted its stake in Edwards Lifesciences by 12.9% during the 2nd quarter. CWM LLC now owns 1,237 shares of the medical research company’s stock valued at $229,000 after purchasing an additional 141 shares during the period. 81.53% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director William J. Phd Link sold 10,214 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $221.86, for a total value of $2,266,078.04. Following the completion of the transaction, the director now directly owns 16,817 shares of the company’s stock, valued at approximately $3,731,019.62. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Huimin Wang sold 4,650 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $186.17, for a total value of $865,690.50. Following the completion of the transaction, the vice president now directly owns 36,898 shares of the company’s stock, valued at $6,869,300.66. The disclosure for this sale can be found here. Over the last three months, insiders sold 184,041 shares of company stock valued at $38,601,986. 1.63% of the stock is currently owned by insiders.



Shares of EW stock traded down $0.57 during mid-day trading on Tuesday, reaching $219.13. The stock had a trading volume of 632,315 shares, compared to its average volume of 851,500. The firm’s 50 day simple moving average is $218.25 and its 200 day simple moving average is $193.51. The company has a quick ratio of 2.48, a current ratio of 3.38 and a debt-to-equity ratio of 0.18. Edwards Lifesciences Corp has a one year low of $136.44 and a one year high of $228.19. The firm has a market cap of $45.68 billion, a PE ratio of 46.62, a P/E/G ratio of 2.77 and a beta of 0.84.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Tuesday, July 23rd. The medical research company reported $1.38 EPS for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.05. Edwards Lifesciences had a return on equity of 31.25% and a net margin of 18.29%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the company earned $1.24 EPS. The company’s quarterly revenue was up 15.2% on a year-over-year basis. Sell-side analysts forecast that Edwards Lifesciences Corp will post 5.34 earnings per share for the current fiscal year.

Several brokerages recently weighed in on EW. Canaccord Genuity increased their target price on Edwards Lifesciences from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. increased their target price on Edwards Lifesciences from $190.00 to $225.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Citigroup set a $159.00 price objective on Edwards Lifesciences and gave the stock a “sell” rating in a research report on Friday, July 26th. BMO Capital Markets raised their price objective on Edwards Lifesciences from $204.00 to $224.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, Bank of America reiterated a “buy” rating and issued a $225.00 price objective (up previously from $215.00) on shares of Edwards Lifesciences in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company. Edwards Lifesciences has a consensus rating of “Buy” and a consensus target price of $208.00.

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

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