Montag & Caldwell LLC Has $22.59 Million Stake in Edwards Lifesciences Co. (NYSE:EW)

Montag & Caldwell LLC trimmed its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 5.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 218,085 shares of the medical research company’s stock after selling 12,464 shares during the period. Edwards Lifesciences accounts for approximately 2.0% of Montag & Caldwell LLC’s holdings, making the stock its 28th largest holding. Montag & Caldwell LLC’s holdings in Edwards Lifesciences were worth $22,587,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Sigma Planning Corp boosted its position in Edwards Lifesciences by 5.0% in the 1st quarter. Sigma Planning Corp now owns 15,644 shares of the medical research company’s stock valued at $1,308,000 after buying an additional 745 shares during the last quarter. Exencial Wealth Advisors LLC boosted its position in Edwards Lifesciences by 6.2% in the 1st quarter. Exencial Wealth Advisors LLC now owns 2,500 shares of the medical research company’s stock valued at $209,000 after buying an additional 145 shares during the last quarter. Fifth Third Bancorp boosted its position in Edwards Lifesciences by 5.1% in the 1st quarter. Fifth Third Bancorp now owns 68,494 shares of the medical research company’s stock valued at $5,729,000 after buying an additional 3,339 shares during the last quarter. IndexIQ Advisors LLC boosted its position in Edwards Lifesciences by 23.8% in the 1st quarter. IndexIQ Advisors LLC now owns 10,702 shares of the medical research company’s stock valued at $895,000 after buying an additional 2,054 shares during the last quarter. Finally, Swiss National Bank boosted its position in Edwards Lifesciences by 2.1% in the 1st quarter. Swiss National Bank now owns 2,396,809 shares of the medical research company’s stock valued at $200,469,000 after buying an additional 48,600 shares during the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

In related news, VP Catherine M. Szyman sold 15,000 shares of Edwards Lifesciences stock in a transaction dated Monday, August 2nd. The stock was sold at an average price of $113.53, for a total value of $1,702,950.00. Following the sale, the vice president now owns 42,759 shares of the company’s stock, valued at $4,854,429.27. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael A. Mussallem sold 32,550 shares of Edwards Lifesciences stock in a transaction dated Tuesday, August 3rd. The shares were sold at an average price of $114.14, for a total value of $3,715,257.00. Following the completion of the sale, the chief executive officer now directly owns 233,052 shares in the company, valued at approximately $26,600,555.28. The disclosure for this sale can be found here. Insiders sold a total of 96,530 shares of company stock worth $11,055,715 in the last three months. Company insiders own 1.35% of the company’s stock.

Shares of EW traded up $1.32 during midday trading on Tuesday, hitting $119.31. The stock had a trading volume of 28,363 shares, compared to its average volume of 2,475,414. The company has a 50 day simple moving average of $114.82 and a two-hundred day simple moving average of $100.42. Edwards Lifesciences Co. has a twelve month low of $70.92 and a twelve month high of $123.27. The firm has a market cap of $74.37 billion, a price-to-earnings ratio of 50.64, a price-to-earnings-growth ratio of 3.40 and a beta of 1.08. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.75 and a quick ratio of 2.89.

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

A number of research analysts have commented on the company. Oppenheimer increased their price objective on Edwards Lifesciences from $97.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, July 30th. Wells Fargo & Company raised their price target on Edwards Lifesciences from $93.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Friday, July 30th. Raymond James raised their price target on Edwards Lifesciences from $101.00 to $122.00 and gave the stock an “outperform” rating in a research report on Monday, August 2nd. Canaccord Genuity raised their price target on Edwards Lifesciences from $103.00 to $124.00 and gave the stock a “buy” rating in a research report on Friday, July 30th. Finally, The Goldman Sachs Group raised their price target on Edwards Lifesciences from $93.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 3rd. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Edwards Lifesciences has an average rating of “Buy” and a consensus price target of $116.33.

About Edwards Lifesciences

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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