Baxter Bros Inc. Increases Stock Position in Edwards Lifesciences Co. (NYSE:EW)

Baxter Bros Inc. grew its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 0.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 92,608 shares of the medical research company’s stock after acquiring an additional 403 shares during the quarter. Edwards Lifesciences makes up 1.5% of Baxter Bros Inc.’s investment portfolio, making the stock its 21st biggest position. Baxter Bros Inc.’s holdings in Edwards Lifesciences were worth $9,591,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of EW. Baldrige Asset Management LLC purchased a new position in shares of Edwards Lifesciences during the second quarter worth approximately $31,000. Bedel Financial Consulting Inc. purchased a new position in shares of Edwards Lifesciences during the second quarter worth approximately $31,000. Wagner Wealth Management LLC purchased a new position in shares of Edwards Lifesciences during the first quarter worth approximately $35,000. Concord Wealth Partners raised its stake in shares of Edwards Lifesciences by 106.5% during the first quarter. Concord Wealth Partners now owns 446 shares of the medical research company’s stock worth $37,000 after acquiring an additional 230 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators purchased a new position in shares of Edwards Lifesciences during the second quarter worth approximately $41,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have commented on the stock. Barclays began coverage on shares of Edwards Lifesciences in a research note on Monday, May 24th. They set an “overweight” rating and a $110.00 price target on the stock. Credit Suisse Group lifted their target price on shares of Edwards Lifesciences from $112.00 to $126.00 and gave the stock an “outperform” rating in a research note on Friday, July 30th. Jefferies Financial Group lifted their target price on shares of Edwards Lifesciences from $110.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, July 30th. Raymond James lifted their target price on shares of Edwards Lifesciences from $101.00 to $122.00 and gave the stock an “outperform” rating in a research note on Monday, August 2nd. Finally, UBS Group lifted their target price on shares of Edwards Lifesciences from $98.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, July 30th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $116.33.

Shares of EW stock traded down $1.93 during mid-day trading on Monday, reaching $117.49. 34,345 shares of the company’s stock traded hands, compared to its average volume of 2,475,565. Edwards Lifesciences Co. has a 12 month low of $70.92 and a 12 month high of $123.27. The company has a market cap of $73.23 billion, a P/E ratio of 51.25, a P/E/G ratio of 3.40 and a beta of 1.08. The company has a quick ratio of 2.89, a current ratio of 3.75 and a debt-to-equity ratio of 0.12. The company’s 50-day moving average price is $114.60 and its 200-day moving average price is $100.16.

Edwards Lifesciences (NYSE:EW) last announced its earnings results on Thursday, July 29th. The medical research company reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.09. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Edwards Lifesciences had a net margin of 29.69% and a return on equity of 29.73%. Equities analysts predict that Edwards Lifesciences Co. will post 2.26 earnings per share for the current year.

In related news, VP Larry L. Wood sold 7,830 shares of the stock in a transaction that occurred on Monday, July 12th. The shares were sold at an average price of $107.48, for a total transaction of $841,568.40. Following the transaction, the vice president now owns 379,964 shares in the company, valued at $40,838,530.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Huimin Wang sold 6,350 shares of the business’s stock in a transaction on Thursday, July 8th. The shares were sold at an average price of $106.72, for a total transaction of $677,672.00. Following the sale, the vice president now owns 104,377 shares of the company’s stock, valued at $11,139,113.44. The disclosure for this sale can be found here. Insiders sold 96,530 shares of company stock valued at $11,055,715 over the last ninety days. Corporate insiders own 1.35% of the company’s stock.

Edwards Lifesciences Company Profile

Edwards Lifesciences Corp. engages in the patient-focused medical innovations for heart disease and critical care monitoring. Its products are categorized into three areas: Transcatheter Heart Valves, Surgical Structural Heart, and Critical Care. The Transcatheter Heart Valves portfolio includes technologies designed to treat heart valve disease using catheter-based approaches as opposed to open surgical techniques.

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

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