Newport Wealth Strategies Inc. cut its holdings in Edwards Lifesciences Corp (NYSE:EW) by 2.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,165 shares of the medical research company’s stock after selling 50 shares during the period. Newport Wealth Strategies Inc.’s holdings in Edwards Lifesciences were worth $476,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of EW. TRUE Private Wealth Advisors bought a new stake in shares of Edwards Lifesciences during the 2nd quarter worth about $26,000. Evolution Wealth Advisors LLC bought a new stake in shares of Edwards Lifesciences during the 2nd quarter worth about $29,000. M&R Capital Management Inc. bought a new stake in shares of Edwards Lifesciences during the 2nd quarter worth about $29,000. Next Capital Management LLC raised its position in shares of Edwards Lifesciences by 297.7% during the 2nd quarter. Next Capital Management LLC now owns 171 shares of the medical research company’s stock worth $32,000 after buying an additional 128 shares in the last quarter. Finally, Tarbox Family Office Inc. raised its position in shares of Edwards Lifesciences by 48.7% during the 2nd quarter. Tarbox Family Office Inc. now owns 177 shares of the medical research company’s stock worth $33,000 after buying an additional 58 shares in the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.

In other news, VP Larry L. Wood sold 6,716 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $218.24, for a total transaction of $1,465,699.84. Following the sale, the vice president now owns 124,145 shares in the company, valued at $27,093,404.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Huimin Wang sold 4,650 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $223.18, for a total transaction of $1,037,787.00. Following the sale, the vice president now owns 36,898 shares in the company, valued at approximately $8,234,895.64. The disclosure for this sale can be found here. Insiders sold a total of 155,822 shares of company stock worth $33,641,784 over the last quarter. Insiders own 1.63% of the company’s stock.

Shares of NYSE EW traded up $6.78 during midday trading on Wednesday, reaching $224.81. The company’s stock had a trading volume of 1,023,783 shares, compared to its average volume of 1,245,254. The company has a current ratio of 3.38, a quick ratio of 2.48 and a debt-to-equity ratio of 0.18. The company has a 50 day moving average price of $219.73 and a 200 day moving average price of $196.78. Edwards Lifesciences Corp has a one year low of $136.44 and a one year high of $229.97. The company has a market cap of $47.71 billion, a price-to-earnings ratio of 47.83, a price-to-earnings-growth ratio of 2.89 and a beta of 0.84.

Edwards Lifesciences (NYSE:EW) last released its earnings results on Tuesday, July 23rd. The medical research company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.05. Edwards Lifesciences had a net margin of 18.29% and a return on equity of 31.25%. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the firm earned $1.24 EPS. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. Research analysts anticipate that Edwards Lifesciences Corp will post 5.34 earnings per share for the current fiscal year.

A number of analysts have commented on EW shares. BTIG Research restated a “hold” rating on shares of Edwards Lifesciences in a research report on Thursday, July 25th. BMO Capital Markets boosted their price target on shares of Edwards Lifesciences from $204.00 to $224.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Piper Jaffray Companies started coverage on shares of Edwards Lifesciences in a research report on Monday, September 23rd. They set an “overweight” rating and a $240.00 price target on the stock. Bank of America restated a “buy” rating and set a $225.00 price target (up from $215.00) on shares of Edwards Lifesciences in a research report on Wednesday, July 24th. Finally, Barclays boosted their target price on shares of Edwards Lifesciences from $160.00 to $175.00 and gave the stock an “underweight” rating in a report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $208.42.

About Edwards Lifesciences

Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States and internationally. It offers transcatheter heart valve therapy products comprising transcatheter aortic valve replacement, and transcatheter mitral and tricuspid therapies for the nonsurgical replacement of heart valves.

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Institutional Ownership by Quarter for Edwards Lifesciences (NYSE:EW)

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