Price T Rowe Associates Inc. MD decreased its position in Edwards Lifesciences Co. (NYSE:EW – Get Rating) by 0.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 806,466 shares of the medical research company’s stock after selling 448 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Edwards Lifesciences were worth $66,639,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC raised its holdings in Edwards Lifesciences by 680.2% in the 2nd quarter. Lazard Asset Management LLC now owns 50,916 shares of the medical research company’s stock valued at $4,840,000 after acquiring an additional 44,390 shares in the last quarter. Stock Yards Bank & Trust Co. acquired a new position in Edwards Lifesciences in the 2nd quarter valued at approximately $373,000. Massachusetts Financial Services Co. MA raised its holdings in shares of Edwards Lifesciences by 19.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,381,049 shares of the medical research company’s stock worth $511,685,000 after buying an additional 860,313 shares in the last quarter. Old North State Trust LLC acquired a new position in shares of Edwards Lifesciences in the 3rd quarter worth approximately $69,000. Finally, Legacy Wealth Asset Management LLC acquired a new position in shares of Edwards Lifesciences in the 3rd quarter worth approximately $761,000. Institutional investors and hedge funds own 80.35% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on EW. Piper Sandler cut Edwards Lifesciences from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $95.00 to $80.00 in a report on Monday, January 30th. Stifel Nicolaus cut Edwards Lifesciences from a “buy” rating to a “hold” rating and dropped their target price for the stock from $95.00 to $75.00 in a report on Monday, December 5th. StockNews.com cut Edwards Lifesciences from a “buy” rating to a “hold” rating in a report on Friday, March 3rd. Wells Fargo & Company cut Edwards Lifesciences from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $97.00 to $78.00 in a report on Wednesday, March 8th. Finally, Canaccord Genuity Group raised their price target on Edwards Lifesciences from $68.00 to $76.00 and gave the company a “hold” rating in a report on Wednesday, February 1st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $88.95.
Insider Transactions at Edwards Lifesciences
Edwards Lifesciences Stock Up 3.1 %
Shares of EW opened at $76.62 on Tuesday. The firm has a market capitalization of $46.61 billion, a price-to-earnings ratio of 31.40, a PEG ratio of 4.33 and a beta of 1.01. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.17 and a current ratio of 3.03. The business’s fifty day moving average price is $78.00 and its two-hundred day moving average price is $79.61. Edwards Lifesciences Co. has a 52 week low of $67.13 and a 52 week high of $131.10.
Edwards Lifesciences (NYSE:EW – Get Rating) last announced its quarterly earnings data on Tuesday, January 31st. The medical research company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.33 billion. Edwards Lifesciences had a return on equity of 26.05% and a net margin of 28.27%. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the company earned $0.51 EPS. On average, analysts predict that Edwards Lifesciences Co. will post 2.52 earnings per share for the current year.
Edwards Lifesciences Profile
Edwards Lifesciences Corp. engages in patient-focused medical innovations for heart disease and critical care monitoring. Its products are categorized into four main areas: Transcatheter Aortic Valve Replacement, Transcatheter Mitral and Tricuspid Therapies, Surgical Structural Heart, and Critical Care.
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