Diversified Trust Co Lowers Stake in Edwards Lifesciences Corp. (EW)
Diversified Trust Co decreased its stake in Edwards Lifesciences Corp. (NYSE:EW) by 6.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,554 shares of the medical research company’s stock after selling 1,375 shares during the period. Diversified Trust Co’s holdings in Edwards Lifesciences Corp. were worth $2,050,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in EW. Duncker Streett & Co. Inc. raised its position in Edwards Lifesciences Corp. by 10.5% in the second quarter. Duncker Streett & Co. Inc. now owns 1,264 shares of the medical research company’s stock worth $126,000 after buying an additional 120 shares during the period. Oakworth Capital Inc. acquired a new position in shares of Edwards Lifesciences Corp. during the second quarter valued at about $126,000. Financial Architects Inc raised its position in shares of Edwards Lifesciences Corp. by 38.9% in the second quarter. Financial Architects Inc now owns 1,697 shares of the medical research company’s stock valued at $169,000 after buying an additional 475 shares during the last quarter. Checchi Capital Advisers LLC raised its position in shares of Edwards Lifesciences Corp. by 3.9% in the second quarter. Checchi Capital Advisers LLC now owns 2,039 shares of the medical research company’s stock valued at $203,000 after buying an additional 76 shares during the last quarter. Finally, CenturyLink Investment Management Co acquired a new position in shares of Edwards Lifesciences Corp. during the second quarter valued at about $207,000. 84.09% of the stock is owned by institutional investors and hedge funds.
Shares of Edwards Lifesciences Corp. (NYSE:EW) traded up 1.43% during mid-day trading on Thursday, reaching $120.87. The company’s stock had a trading volume of 1,436,302 shares. The company has a market cap of $25.73 billion, a P/E ratio of 49.95 and a beta of 0.60. The company has a 50-day moving average of $115.27 and a 200-day moving average of $104.45. Edwards Lifesciences Corp. has a 12 month low of $66.57 and a 12 month high of $121.58.
Edwards Lifesciences Corp. (NYSE:EW) last posted its earnings results on Tuesday, July 26th. The medical research company reported $0.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.06. The company had revenue of $759.30 million for the quarter, compared to analysts’ expectations of $724.26 million. Edwards Lifesciences Corp. had a return on equity of 23.72% and a net margin of 19.26%. Edwards Lifesciences Corp.’s quarterly revenue was up 23.1% on a year-over-year basis. During the same period last year, the firm earned $0.57 earnings per share. Equities research analysts forecast that Edwards Lifesciences Corp. will post $2.88 earnings per share for the current fiscal year.
EW has been the topic of several recent analyst reports. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Edwards Lifesciences Corp. in a research note on Tuesday, July 12th. BTIG Research lifted their price target on Edwards Lifesciences Corp. from $122.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, July 27th. Bank of America Corp. upgraded Edwards Lifesciences Corp. from a “neutral” rating to a “buy” rating and set a $130.00 price target on the stock in a research note on Wednesday, July 27th. Canaccord Genuity reiterated a “buy” rating and issued a $132.00 price target on shares of Edwards Lifesciences Corp. in a research note on Wednesday, June 1st. Finally, Credit Suisse Group AG reiterated a “buy” rating on shares of Edwards Lifesciences Corp. in a research note on Wednesday, June 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-one have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $118.13.
In related news, VP Huimin Wang sold 13,650 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $115.72, for a total value of $1,579,578.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 18,000 shares of the firm’s stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $115.78, for a total transaction of $2,084,040.00. The disclosure for this sale can be found here. 2.37% of the stock is owned by corporate insiders.
About Edwards Lifesciences Corp.
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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