Greenleaf Trust lowered its position in shares of Edwards Lifesciences Corp (NYSE:EW) by 2.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 60,812 shares of the medical research company’s stock after selling 1,820 shares during the quarter. Edwards Lifesciences accounts for 0.2% of Greenleaf Trust’s investment portfolio, making the stock its 25th largest holding. Greenleaf Trust’s holdings in Edwards Lifesciences were worth $10,587,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the business. Winthrop Advisory Group LLC purchased a new position in shares of Edwards Lifesciences in the 3rd quarter valued at about $330,000. Braun Stacey Associates Inc. increased its holdings in shares of Edwards Lifesciences by 11.9% in the 3rd quarter. Braun Stacey Associates Inc. now owns 50,974 shares of the medical research company’s stock valued at $8,874,000 after purchasing an additional 5,436 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Edwards Lifesciences in the 3rd quarter valued at about $29,068,000. Oppenheimer & Co. Inc. increased its holdings in shares of Edwards Lifesciences by 24.5% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 16,881 shares of the medical research company’s stock valued at $2,939,000 after purchasing an additional 3,324 shares in the last quarter. Finally, Congress Asset Management Co. MA increased its holdings in shares of Edwards Lifesciences by 1.4% in the 3rd quarter. Congress Asset Management Co. MA now owns 43,619 shares of the medical research company’s stock valued at $7,594,000 after purchasing an additional 614 shares in the last quarter. Institutional investors own 82.71% of the company’s stock.
Edwards Lifesciences stock opened at $150.83 on Tuesday. Edwards Lifesciences Corp has a 12-month low of $102.00 and a 12-month high of $175.00. The stock has a market cap of $31.94 billion, a price-to-earnings ratio of 39.69, a PEG ratio of 2.01 and a beta of 0.87. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.85 and a current ratio of 2.31.
Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Tuesday, October 23rd. The medical research company reported $1.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.05. Edwards Lifesciences had a net margin of 20.67% and a return on equity of 30.11%. The company had revenue of $906.60 million for the quarter, compared to analysts’ expectations of $927.56 million. During the same period last year, the company earned $0.84 EPS. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. As a group, equities research analysts expect that Edwards Lifesciences Corp will post 4.69 EPS for the current fiscal year.
In related news, VP Catherine M. Szyman sold 700 shares of the firm’s stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $142.64, for a total value of $99,848.00. Following the sale, the vice president now directly owns 27,772 shares of the company’s stock, valued at $3,961,398.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Scott B. Ullem sold 25,036 shares of the firm’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $140.04, for a total transaction of $3,506,041.44. Following the completion of the sale, the chief financial officer now directly owns 41,019 shares in the company, valued at $5,744,300.76. The disclosure for this sale can be found here. Insiders have sold a total of 116,511 shares of company stock worth $16,634,402 over the last ninety days. 1.84% of the stock is owned by corporate insiders.
A number of brokerages have recently issued reports on EW. Citigroup increased their price target on shares of Edwards Lifesciences from $115.00 to $118.00 and gave the company a “sell” rating in a report on Tuesday, July 31st. Zacks Investment Research cut shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a research note on Monday, July 16th. ValuEngine raised shares of Edwards Lifesciences from a “hold” rating to a “buy” rating in a research note on Wednesday, September 19th. Bank of America cut shares of Edwards Lifesciences from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 2nd. Finally, Morgan Stanley increased their price objective on shares of Edwards Lifesciences from $150.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, October 11th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $156.79.
Edwards Lifesciences Profile
Edwards Lifesciences Corporation provides products and technologies to treat structural heart disease and critically ill patients in the United States and internationally. It offers transcatheter heart valve therapy products comprising transcatheter aortic heart valves and related delivery systems for the nonsurgical replacement of heart valves.
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