Pictet Asset Management Ltd. Sells 8,136 Shares of Edwards Lifesciences Corp (NYSE:EW)

Pictet Asset Management Ltd. cut its holdings in Edwards Lifesciences Corp (NYSE:EW) by 2.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 267,938 shares of the medical research company’s stock after selling 8,136 shares during the period. Pictet Asset Management Ltd.’s holdings in Edwards Lifesciences were worth $49,499,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. TRUE Private Wealth Advisors bought a new position in Edwards Lifesciences during the second quarter valued at $26,000. Evolution Wealth Advisors LLC purchased a new stake in shares of Edwards Lifesciences during the second quarter worth $29,000. M&R Capital Management Inc. purchased a new stake in shares of Edwards Lifesciences during the second quarter worth $29,000. Next Capital Management LLC lifted its position in shares of Edwards Lifesciences by 297.7% during the second quarter. Next Capital Management LLC now owns 171 shares of the medical research company’s stock worth $32,000 after acquiring an additional 128 shares in the last quarter. Finally, Tarbox Family Office Inc. lifted its position in shares of Edwards Lifesciences by 48.7% during the second quarter. Tarbox Family Office Inc. now owns 177 shares of the medical research company’s stock worth $33,000 after acquiring an additional 58 shares in the last quarter. 81.53% of the stock is owned by institutional investors.

In other news, VP Catherine M. Szyman sold 372 shares of Edwards Lifesciences stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $214.53, for a total transaction of $79,805.16. Following the completion of the transaction, the vice president now directly owns 18,010 shares in the company, valued at $3,863,685.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Huimin Wang sold 4,650 shares of Edwards Lifesciences stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $186.17, for a total transaction of $865,690.50. Following the transaction, the vice president now owns 36,898 shares of the company’s stock, valued at $6,869,300.66. The disclosure for this sale can be found here. Insiders sold 184,041 shares of company stock valued at $38,601,986 over the last 90 days. 1.63% of the stock is currently owned by company insiders.



Several equities research analysts have issued reports on EW shares. Morgan Stanley increased their target price on Edwards Lifesciences from $210.00 to $228.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Bank of America restated a “buy” rating and set a $225.00 target price (up previously from $215.00) on shares of Edwards Lifesciences in a research report on Wednesday, July 24th. JPMorgan Chase & Co. increased their price objective on Edwards Lifesciences from $190.00 to $225.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Zacks Investment Research raised Edwards Lifesciences from a “hold” rating to a “buy” rating and set a $232.00 target price on the stock in a research note on Thursday, July 25th. Finally, Credit Suisse Group increased their target price on Edwards Lifesciences from $221.00 to $226.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company. Edwards Lifesciences presently has a consensus rating of “Buy” and an average price target of $208.00.

EW traded down $0.04 on Wednesday, hitting $219.05. The company had a trading volume of 155,175 shares, compared to its average volume of 851,500. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.38 and a quick ratio of 2.48. Edwards Lifesciences Corp has a 52-week low of $136.44 and a 52-week high of $228.19. The stock has a fifty day simple moving average of $218.31 and a 200-day simple moving average of $193.74. The firm has a market capitalization of $45.68 billion, a P/E ratio of 46.61, a P/E/G ratio of 2.77 and a beta of 0.84.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings data on Tuesday, July 23rd. The medical research company reported $1.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.05. Edwards Lifesciences had a net margin of 18.29% and a return on equity of 31.25%. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the business posted $1.24 earnings per share. Edwards Lifesciences’s quarterly revenue was up 15.2% compared to the same quarter last year. Equities research analysts expect that Edwards Lifesciences Corp will post 5.34 earnings per share for the current fiscal year.

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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