MML Investors Services LLC decreased its holdings in shares of Edwards Lifesciences Corp (NYSE:EW) by 16.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,011 shares of the medical research company’s stock after selling 1,757 shares during the period. MML Investors Services LLC’s holdings in Edwards Lifesciences were worth $1,016,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Cerebellum GP LLC bought a new stake in shares of Edwards Lifesciences during the 4th quarter valued at about $128,000. Resources Investment Advisors Inc. boosted its holdings in Edwards Lifesciences by 66.0% in the fourth quarter. Resources Investment Advisors Inc. now owns 1,170 shares of the medical research company’s stock worth $132,000 after acquiring an additional 465 shares in the last quarter. Exane Derivatives boosted its holdings in Edwards Lifesciences by 381.3% in the fourth quarter. Exane Derivatives now owns 1,213 shares of the medical research company’s stock worth $137,000 after acquiring an additional 961 shares in the last quarter. Dupont Capital Management Corp bought a new position in Edwards Lifesciences in the third quarter worth approximately $142,000. Finally, Diversified Trust Co bought a new position in Edwards Lifesciences in the fourth quarter worth approximately $209,000. Institutional investors own 82.86% of the company’s stock.
Shares of Edwards Lifesciences Corp (EW) opened at $140.83 on Wednesday. The company has a market capitalization of $29,411.72, a P/E ratio of 36.85, a PEG ratio of 2.07 and a beta of 0.56. Edwards Lifesciences Corp has a 52 week low of $91.30 and a 52 week high of $141.65. The company has a quick ratio of 1.41, a current ratio of 1.80 and a debt-to-equity ratio of 0.15.
Edwards Lifesciences announced that its Board of Directors has approved a share buyback 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 repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.
Several research analysts have issued reports on EW shares. Evercore ISI started coverage on Edwards Lifesciences in a report on Wednesday, January 3rd. They issued an “outperform” rating and a $140.00 price target on the stock. Morgan Stanley increased their price target on Edwards Lifesciences from $130.00 to $138.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Canaccord Genuity reiterated a “buy” rating and issued a $174.00 price target (up previously from $140.00) on shares of Edwards Lifesciences in a report on Friday, February 2nd. BMO Capital Markets reiterated a “buy” rating and issued a $137.00 price target on shares of Edwards Lifesciences in a report on Friday, December 8th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $155.00 price target on shares of Edwards Lifesciences in a report on Friday, February 2nd. Three investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $141.15.
In related news, VP Larry L. Wood sold 18,960 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $114.58, for a total transaction of $2,172,436.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 3,750 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $127.54, for a total value of $478,275.00. Following the sale, the vice president now directly owns 19,608 shares of the company’s stock, valued at $2,500,804.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 184,563 shares of company stock valued at $22,358,569. Company insiders own 2.13% of the company’s stock.
About Edwards Lifesciences
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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