Edwards Lifesciences Co. (NYSE:EW) Shares Purchased by Legacy Wealth Management LLC MS

Legacy Wealth Management LLC MS grew its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 48.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,081 shares of the medical research company’s stock after acquiring an additional 4,605 shares during the quarter. Legacy Wealth Management LLC MS’s holdings in Edwards Lifesciences were worth $929,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Franklin Resources Inc. increased its holdings in shares of Edwards Lifesciences by 2.3% during the third quarter. Franklin Resources Inc. now owns 1,196,059 shares of the medical research company’s stock valued at $83,282,000 after acquiring an additional 27,193 shares in the last quarter. Peapack Gladstone Financial Corp increased its holdings in shares of Edwards Lifesciences by 108.0% during the third quarter. Peapack Gladstone Financial Corp now owns 293,758 shares of the medical research company’s stock valued at $19,385,000 after acquiring an additional 152,539 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of Edwards Lifesciences by 0.7% during the third quarter. Tidal Investments LLC now owns 39,532 shares of the medical research company’s stock valued at $2,609,000 after acquiring an additional 275 shares in the last quarter. Destination Wealth Management increased its holdings in Edwards Lifesciences by 2.8% in the 3rd quarter. Destination Wealth Management now owns 7,012 shares of the medical research company’s stock worth $463,000 after buying an additional 193 shares during the period. Finally, Wilmington Savings Fund Society FSB increased its holdings in Edwards Lifesciences by 147.0% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 9,106 shares of the medical research company’s stock worth $601,000 after buying an additional 5,420 shares during the period. Institutional investors and hedge funds own 79.46% of the company’s stock.

Insider Buying and Selling at Edwards Lifesciences

In other news, insider Larry L. Wood sold 25,000 shares of Edwards Lifesciences stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $65.91, for a total transaction of $1,647,750.00. Following the transaction, the insider now owns 198,526 shares in the company, valued at $13,084,848.66. The trade was a 11.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $65.57, for a total value of $327,850.00. Following the transaction, the vice president now owns 46,936 shares in the company, valued at approximately $3,077,593.52. This represents a 9.63 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,000 shares of company stock worth $2,323,150. Corporate insiders own 1.29% of the company’s stock.

Edwards Lifesciences Price Performance

EW stock traded down $0.53 during midday trading on Friday, reaching $73.44. The stock had a trading volume of 827,249 shares, compared to its average volume of 4,633,324. The company’s fifty day simple moving average is $69.26 and its 200 day simple moving average is $74.19. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. The company has a market cap of $43.31 billion, a price-to-earnings ratio of 10.67, a price-to-earnings-growth ratio of 3.63 and a beta of 1.12. Edwards Lifesciences Co. has a 52-week low of $58.93 and a 52-week high of $96.12.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Thursday, October 24th. The medical research company reported $0.67 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.67. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.57 billion. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.59 EPS. As a group, sell-side analysts predict that Edwards Lifesciences Co. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on EW shares. Robert W. Baird cut their price target on shares of Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Jefferies Financial Group downgraded shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and cut their price target for the stock from $85.00 to $70.00 in a report on Wednesday, September 18th. Canaccord Genuity Group increased their price target on shares of Edwards Lifesciences from $63.00 to $68.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Royal Bank of Canada increased their price target on shares of Edwards Lifesciences from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, December 5th. Finally, Daiwa America downgraded shares of Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. Seventeen research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $78.65.

Edwards Lifesciences Profile

Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of aortic heart valves under the Edwards SAPIEN family of valves system; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases under the PASCAL PRECISION and Cardioband names.