The Wealth Enhancement Advisory Services LLC Acquires 13,005 Shares of Edwards Lifesciences Corp. (EW)

The Wealth Enhancement Advisory Services LLC Acquires 13,005  Shares of Edwards Lifesciences Corp. (EW)

Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Edwards Lifesciences Corp. (NYSE:EW) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 13,005 shares of the medical research company’s stock, valued at approximately $1,297,000.

Other hedge funds also recently made changes to their positions in the company. Ngam Advisors L.P. increased its position in shares of Edwards Lifesciences Corp. by 15.2% in the first quarter. Ngam Advisors L.P. now owns 22,216 shares of the medical research company’s stock worth $1,960,000 after buying an additional 2,932 shares in the last quarter. Aviva PLC increased its position in shares of Edwards Lifesciences Corp. by 1.5% in the first quarter. Aviva PLC now owns 109,425 shares of the medical research company’s stock worth $9,652,000 after buying an additional 1,667 shares in the last quarter. Credit Agricole S A increased its position in shares of Edwards Lifesciences Corp. by 38.5% in the first quarter. Credit Agricole S A now owns 573,094 shares of the medical research company’s stock worth $50,552,000 after buying an additional 159,454 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of Edwards Lifesciences Corp. by 270.0% in the first quarter. Canada Pension Plan Investment Board now owns 379,592 shares of the medical research company’s stock worth $33,484,000 after buying an additional 277,000 shares in the last quarter. Finally, BB&T Securities LLC acquired a new position in shares of Edwards Lifesciences Corp. during the first quarter worth approximately $234,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Edwards Lifesciences Corp. (NYSE:EW) traded down 1.72% during trading on Friday, reaching $116.62. The company’s stock had a trading volume of 1,096,718 shares. The firm has a market capitalization of $24.83 billion, a P/E ratio of 48.19 and a beta of 0.56. The stock has a 50-day moving average of $117.79 and a 200 day moving average of $108.00. Edwards Lifesciences Corp. has a one year low of $72.20 and a one year high of $121.75.

Edwards Lifesciences Corp. (NYSE:EW) last posted its quarterly earnings results on Tuesday, July 26th. The medical research company reported $0.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.06. The business had revenue of $759.30 million for the quarter, compared to the consensus estimate of $724.26 million. Edwards Lifesciences Corp. had a return on equity of 23.72% and a net margin of 19.26%. The company’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.57 EPS. On average, equities research analysts predict that Edwards Lifesciences Corp. will post $2.88 EPS for the current fiscal year.

Several equities research analysts recently weighed in on the company. Deutsche Bank AG upped their price target on Edwards Lifesciences Corp. from $100.00 to $115.00 and gave the stock a “hold” rating in a research note on Wednesday, July 27th. JMP Securities upped their price target on Edwards Lifesciences Corp. from $125.00 to $130.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 28th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Edwards Lifesciences Corp. in a research note on Tuesday, July 12th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Edwards Lifesciences Corp. in a research note on Sunday, September 11th. Finally, Citigroup Inc. upped their price target on Edwards Lifesciences Corp. from $86.00 to $94.00 and gave the stock a “sell” rating in a research note on Wednesday, July 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have issued a buy rating to the company’s stock. Edwards Lifesciences Corp. presently has an average rating of “Buy” and an average target price of $118.13.

In other Edwards Lifesciences Corp. news, CEO Michael A. Mussallem sold 49,100 shares of the business’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $113.31, for a total transaction of $5,563,521.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Schack Wesley W. Von sold 6,000 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $113.98, for a total value of $683,880.00. The disclosure for this sale can be found here. Company insiders own 2.37% of the company’s stock.

Edwards Lifesciences Corp. Company Profile

Edwards Lifesciences Corporation is focused on technologies that treat structural heart disease and critically ill patients. The Company manufactures heart valve systems and repair products used to replace or repair a patient’s diseased or defective heart valve. It develops hemodynamic monitoring systems used to measure a patient’s cardiovascular function in the hospital setting.

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