State of Alaska Department of Revenue reduced its stake in Edwards Lifesciences Co. (NYSE:EW) by 15.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 119,389 shares of the medical research company’s stock after selling 22,298 shares during the quarter. State of Alaska Department of Revenue’s holdings in Edwards Lifesciences were worth $10,890,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Altshuler Shaham Ltd bought a new stake in shares of Edwards Lifesciences during the 3rd quarter valued at $25,000. Glassman Wealth Services grew its position in shares of Edwards Lifesciences by 62.2% during the 3rd quarter. Glassman Wealth Services now owns 407 shares of the medical research company’s stock valued at $32,000 after acquiring an additional 156 shares during the period. Newfound Research LLC bought a new position in Edwards Lifesciences in the 3rd quarter worth $34,000. Mirova boosted its holdings in Edwards Lifesciences by 322.8% in the 3rd quarter. Mirova now owns 482 shares of the medical research company’s stock worth $38,000 after buying an additional 368 shares during the period. Finally, Earnest Partners LLC boosted its holdings in Edwards Lifesciences by 425.8% in the 3rd quarter. Earnest Partners LLC now owns 510 shares of the medical research company’s stock worth $41,000 after buying an additional 413 shares during the period. Institutional investors own 73.82% of the company’s stock.
Several research analysts recently weighed in on EW shares. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell downgraded shares of Edwards Lifesciences from a “buy” rating to a “neutral” rating and set a $97.00 target price for the company. in a report on Wednesday, December 16th. SVB Leerink upped their target price on shares of Edwards Lifesciences from $100.00 to $106.00 and gave the stock an “outperform” rating in a report on Friday, December 11th. Credit Suisse Group upped their target price on shares of Edwards Lifesciences from $97.00 to $111.00 in a report on Monday, December 7th. Smith Barney Citigroup downgraded shares of Edwards Lifesciences from a “buy” rating to a “neutral” rating in a report on Wednesday, December 16th. Finally, Canaccord Genuity increased their price objective on shares of Edwards Lifesciences from $89.00 to $94.00 and gave the company a “buy” rating in a report on Friday, December 11th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $90.82.
Shares of NYSE EW opened at $90.67 on Friday. The firm’s 50-day moving average price is $86.55 and its 200-day moving average price is $80.12. The company has a current ratio of 3.52, a quick ratio of 2.61 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $56.51 billion, a price-to-earnings ratio of 72.54, a P/E/G ratio of 2.90 and a beta of 0.97. Edwards Lifesciences Co. has a 12-month low of $51.51 and a 12-month high of $92.08.
Edwards Lifesciences (NYSE:EW) last announced its earnings results on Wednesday, October 21st. The medical research company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.06. Edwards Lifesciences had a net margin of 18.18% and a return on equity of 29.00%. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.08 billion. On average, equities analysts predict that Edwards Lifesciences Co. will post 1.89 EPS for the current fiscal year.
Edwards Lifesciences Profile
Edwards Lifesciences Corporation provides products and technologies for structural heart disease, and critical care and surgical monitoring in the United States and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of heart valves; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases.
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