Franklin Resources Inc. trimmed its stake in shares of Edwards Lifesciences Corp (NYSE:EW) by 3.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,042,453 shares of the medical research company’s stock after selling 83,773 shares during the quarter. Franklin Resources Inc. owned 0.97% of Edwards Lifesciences worth $230,231,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EW. Bank of New York Mellon Corp boosted its holdings in Edwards Lifesciences by 45.7% during the fourth quarter. Bank of New York Mellon Corp now owns 7,580,924 shares of the medical research company’s stock valued at $854,444,000 after purchasing an additional 2,377,444 shares in the last quarter. Atlantic Trust Group LLC boosted its holdings in Edwards Lifesciences by 734.7% during the third quarter. Atlantic Trust Group LLC now owns 914,989 shares of the medical research company’s stock valued at $100,018,000 after purchasing an additional 805,370 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in Edwards Lifesciences by 12.1% during the fourth quarter. Alliancebernstein L.P. now owns 6,259,771 shares of the medical research company’s stock valued at $705,539,000 after purchasing an additional 675,216 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Edwards Lifesciences by 1,135.0% in the 3rd quarter. Janus Henderson Group PLC now owns 619,703 shares of the medical research company’s stock worth $67,739,000 after acquiring an additional 569,525 shares in the last quarter. Finally, Champlain Investment Partners LLC acquired a new position in shares of Edwards Lifesciences in the 4th quarter worth approximately $56,393,000. 82.86% of the stock is currently owned by institutional investors.
Several research analysts have recently commented on EW shares. Cowen set a $135.00 target price on Edwards Lifesciences and gave the stock a “buy” rating in a report on Sunday, December 10th. Evercore ISI started coverage on Edwards Lifesciences in a report on Wednesday, January 3rd. They issued an “outperform” rating and a $140.00 target price on the stock. Barclays raised Edwards Lifesciences from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $125.00 to $135.00 in a report on Thursday, January 4th. Morgan Stanley boosted their target price on Edwards Lifesciences from $130.00 to $138.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Finally, Canaccord Genuity reissued a “buy” rating and issued a $137.00 target price on shares of Edwards Lifesciences in a report on Wednesday, November 29th. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $141.15.
Edwards Lifesciences Corp (EW) opened at $139.32 on Monday. Edwards Lifesciences Corp has a 1-year low of $91.30 and a 1-year high of $140.07. The company has a current ratio of 1.80, a quick ratio of 1.41 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $29,260.50, a price-to-earnings ratio of 36.66, a price-to-earnings-growth ratio of 2.06 and a beta of 0.56.
Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data on Thursday, February 1st. The medical research company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.03. Edwards Lifesciences had a return on equity of 27.78% and a net margin of 18.11%. The firm had revenue of $888.50 million for the quarter, compared to the consensus estimate of $868.45 million. During the same quarter in the prior year, the business earned $0.75 EPS. The business’s revenue for the quarter was up 15.7% compared to the same quarter last year. equities analysts expect that Edwards Lifesciences Corp will post 4.49 earnings per share for the current year.
Edwards Lifesciences announced that its Board of Directors has approved a stock repurchase plan on Thursday, December 7th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the medical research company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.
Edwards Lifesciences Profile
Edwards Lifesciences Corporation is a manufacturer of heart valve systems and repair products used to replace or repair a patient’s diseased or defective heart valve. The Company is engaged in patient-focused innovations for structural heart disease and critical care monitoring. Its segments include United States, Europe, Japan and Rest of World.
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