TCI Wealth Advisors Inc. raised its stake in Edwards Lifesciences Corporation (NYSE:EW) by 30.5% during the third quarter, Holdings Channel reports. The firm owned 1,044 shares of the medical research company’s stock after buying an additional 244 shares during the period. TCI Wealth Advisors Inc.’s holdings in Edwards Lifesciences Corporation were worth $126,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the company. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in Edwards Lifesciences Corporation during the second quarter valued at about $100,000. Quadrant Capital Group LLC boosted its stake in shares of Edwards Lifesciences Corporation by 2.3% in the second quarter. Quadrant Capital Group LLC now owns 1,108 shares of the medical research company’s stock worth $106,000 after buying an additional 25 shares during the period. Spirit of America Management Corp NY bought a new stake in shares of Edwards Lifesciences Corporation during the third quarter worth $121,000. American Research & Management Co. bought a new stake in shares of Edwards Lifesciences Corporation during the second quarter worth $130,000. Finally, Cornerstone Advisors Inc. boosted its stake in shares of Edwards Lifesciences Corporation by 28.9% in the third quarter. Cornerstone Advisors Inc. now owns 1,075 shares of the medical research company’s stock worth $130,000 after buying an additional 241 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.
Edwards Lifesciences Corporation (NYSE:EW) opened at 94.40 on Wednesday. The company has a market capitalization of $20.18 billion, a P/E ratio of 37.31 and a beta of 0.62. Edwards Lifesciences Corporation has a 52-week low of $75.24 and a 52-week high of $121.75. The stock has a 50 day moving average of $93.31 and a 200-day moving average of $104.34.
Edwards Lifesciences Corporation (NYSE:EW) last posted its earnings results on Tuesday, October 25th. The medical research company reported $0.68 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.68. The firm earned $739.40 million during the quarter, compared to analysts’ expectations of $749.14 million. Edwards Lifesciences Corporation had a net margin of 19.24% and a return on equity of 24.32%. The company’s revenue was up 20.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.54 earnings per share. On average, equities analysts forecast that Edwards Lifesciences Corporation will post $2.86 earnings per share for the current year.
A number of brokerages recently weighed in on EW. Guggenheim raised shares of Edwards Lifesciences Corporation from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a research report on Tuesday, January 3rd. Jefferies Group LLC reissued a “buy” rating and issued a $115.00 price target on shares of Edwards Lifesciences Corporation in a research report on Friday, December 9th. Royal Bank Of Canada reduced their price target on shares of Edwards Lifesciences Corporation from $130.00 to $123.00 and set an “outperform” rating for the company in a research report on Wednesday, October 26th. Canaccord Genuity reiterated a “buy” rating and issued a $140.00 price target on shares of Edwards Lifesciences Corporation in a research report on Friday, December 9th. Finally, Evercore ISI reiterated a “hold” rating and issued a $105.00 price target on shares of Edwards Lifesciences Corporation in a research report on Monday, November 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $116.96.
In other news, CEO Michael A. Mussallem sold 49,100 shares of the business’s stock in a transaction on Friday, January 13th. The shares were sold at an average price of $97.08, for a total value of $4,766,628.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 13,720 shares of the business’s stock in a transaction on Thursday, January 12th. The stock was sold at an average price of $97.47, for a total transaction of $1,337,288.40. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 65,870 shares of company stock valued at $1,334,134 and sold 278,935 shares valued at $25,391,347. 2.37% of the stock is owned by insiders.
Edwards Lifesciences Corporation 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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