Crestwood Advisors Group LLC Decreases Stake in Edwards Lifesciences Co. (NYSE:EW)

Crestwood Advisors Group LLC lessened its stake in Edwards Lifesciences Co. (NYSE:EW – Get Rating) by 15.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,829 shares of the medical research company’s stock after selling 325 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Edwards Lifesciences were worth $215,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Aurora Investment Managers LLC. purchased a new position in shares of Edwards Lifesciences in the 1st quarter worth $319,000. Veriti Management LLC lifted its stake in shares of Edwards Lifesciences by 21.9% during the first quarter. Veriti Management LLC now owns 14,889 shares of the medical research company’s stock worth $1,753,000 after purchasing an additional 2,679 shares in the last quarter. Harbour Capital Advisors LLC grew its holdings in Edwards Lifesciences by 0.9% during the 1st quarter. Harbour Capital Advisors LLC now owns 36,401 shares of the medical research company’s stock valued at $4,285,000 after purchasing an additional 311 shares in the last quarter. GPM Growth Investors Inc. acquired a new position in shares of Edwards Lifesciences in the 1st quarter valued at approximately $3,070,000. Finally, Bridges Investment Management Inc. raised its holdings in Edwards Lifesciences by 1.9% in the first quarter. Bridges Investment Management Inc. now owns 167,393 shares of the medical research company’s stock valued at $19,705,000 after acquiring an additional 3,152 shares in the last quarter. Institutional investors own 82.54% of the company’s stock.

In related news, VP Daveen Chopra sold 1,000 shares of the firm’s stock in a transaction on Thursday, May 26th. The stock was sold at an average price of $98.31, for a total value of $98,310.00. Following the completion of the transaction, the vice president now directly owns 19,911 shares of the company’s stock, valued at $1,957,450.41. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael A. Mussallem sold 32,550 shares of the business’s stock in a transaction on Friday, April 29th. The shares were sold at an average price of $107.80, for a total transaction of $3,508,890.00. Following the completion of the sale, the chief executive officer now directly owns 91,772 shares in the company, valued at approximately $9,893,021.60. The disclosure for this sale can be found here. Insiders sold 204,165 shares of company stock valued at $21,328,796 over the last three months. 1.29% of the stock is owned by company insiders.

EW has been the topic of a number of recent research reports. StockNews.com cut shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a report on Thursday, May 5th. William Blair reissued an “outperform” rating on shares of Edwards Lifesciences in a research note on Tuesday, April 26th. Citigroup decreased their price objective on Edwards Lifesciences from $134.00 to $115.00 and set a “buy” rating for the company in a report on Tuesday, May 17th. Canaccord Genuity Group dropped their price target on shares of Edwards Lifesciences from $152.00 to $137.00 in a research report on Wednesday, April 27th. Finally, Sanford C. Bernstein raised Edwards Lifesciences from a “market perform” rating to an “outperform” rating and raised their target price for the company from $132.00 to $135.00 in a research note on Wednesday, March 16th. Four research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, Edwards Lifesciences has a consensus rating of “Moderate Buy” and a consensus target price of $128.86.

NYSE EW opened at $90.79 on Thursday. Edwards Lifesciences Co. has a fifty-two week low of $85.58 and a fifty-two week high of $131.73. The stock’s 50-day moving average is $101.17 and its two-hundred day moving average is $110.52. The firm has a market cap of $56.45 billion, a P/E ratio of 37.21, a price-to-earnings-growth ratio of 2.51 and a beta of 1.17. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.41 and a quick ratio of 2.64.

Edwards Lifesciences (NYSE:EW – Get Rating) last released its quarterly earnings results on Tuesday, April 26th. The medical research company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.31 billion. Edwards Lifesciences had a net margin of 28.72% and a return on equity of 25.80%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.54 earnings per share. On average, equities analysts expect that Edwards Lifesciences Co. will post 2.57 EPS for the current year.

Edwards Lifesciences Company Profile (Get Rating)

Edwards Lifesciences Corporation provides products and technologies for structural heart disease, and critical care and surgical monitoring in the United States, Europe, Japan, 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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