Ibex Wealth Advisors Takes $2.45 Million Position in Edwards Lifesciences Corp (NYSE:EW)

Ibex Wealth Advisors purchased a new stake in shares of Edwards Lifesciences Corp (NYSE:EW) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,510 shares of the medical research company’s stock, valued at approximately $2,452,000.

Several other institutional investors and hedge funds have also modified their holdings of EW. Pegasus Asset Management Inc. boosted its stake in Edwards Lifesciences by 0.3% in the 3rd quarter. Pegasus Asset Management Inc. now owns 14,154 shares of the medical research company’s stock valued at $3,113,000 after buying an additional 43 shares in the last quarter. Stephens Inc. AR raised its position in shares of Edwards Lifesciences by 0.6% during the third quarter. Stephens Inc. AR now owns 7,482 shares of the medical research company’s stock worth $1,645,000 after acquiring an additional 45 shares during the last quarter. Honkamp Krueger Financial Services Inc. raised its position in shares of Edwards Lifesciences by 4.7% during the fourth quarter. Honkamp Krueger Financial Services Inc. now owns 1,015 shares of the medical research company’s stock worth $237,000 after acquiring an additional 46 shares during the last quarter. Optimum Investment Advisors raised its position in shares of Edwards Lifesciences by 11.1% during the third quarter. Optimum Investment Advisors now owns 500 shares of the medical research company’s stock worth $110,000 after acquiring an additional 50 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its position in shares of Edwards Lifesciences by 1.7% during the third quarter. Municipal Employees Retirement System of Michigan now owns 2,930 shares of the medical research company’s stock worth $644,000 after acquiring an additional 50 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors.

In related news, VP Catherine M. Szyman sold 2,500 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $242.14, for a total transaction of $605,350.00. Following the completion of the transaction, the vice president now directly owns 19,605 shares of the company’s stock, valued at $4,747,154.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Larry L. Wood sold 6,716 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $239.75, for a total value of $1,610,161.00. Following the transaction, the vice president now directly owns 124,145 shares of the company’s stock, valued at $29,763,763.75. The disclosure for this sale can be found here. Insiders have sold 171,741 shares of company stock valued at $40,361,980 over the last ninety days. 1.63% of the stock is owned by insiders.

EW has been the subject of a number of recent research reports. Royal Bank of Canada boosted their target price on Edwards Lifesciences from $217.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Morgan Stanley upped their price objective on Edwards Lifesciences from $248.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Credit Suisse Group upped their price objective on Edwards Lifesciences from $269.00 to $275.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Canaccord Genuity reiterated a “buy” rating and issued a $260.00 price objective on shares of Edwards Lifesciences in a report on Friday, December 6th. Finally, Raymond James upped their price objective on Edwards Lifesciences from $255.00 to $263.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company’s stock. Edwards Lifesciences presently has an average rating of “Buy” and an average price target of $239.42.

Shares of Edwards Lifesciences stock traded down $2.83 during trading hours on Friday, hitting $229.43. The company’s stock had a trading volume of 48,866 shares, compared to its average volume of 932,390. Edwards Lifesciences Corp has a 12 month low of $163.08 and a 12 month high of $247.64. The stock has a 50 day moving average of $235.11 and a 200 day moving average of $225.04. The company has a market capitalization of $50.68 billion, a PE ratio of 62.88, a price-to-earnings-growth ratio of 2.67 and a beta of 0.77. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.53 and a quick ratio of 2.74.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.19. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Edwards Lifesciences had a return on equity of 32.28% and a net margin of 18.64%. Edwards Lifesciences’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.07 earnings per share. Equities analysts expect that Edwards Lifesciences Corp will post 5.6 EPS for the current year.

Edwards Lifesciences Profile

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.

Further Reading: Initial Coin Offering (ICO)

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

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