New York Life Investment Management LLC increases holdings in Edwards Lifesciences Co. (NYSE:EW)

New York Life Investment Management LLC raised its stake in Edwards Lifesciences Co. (NYSE:EW – Free Report) by 0.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 93,842 shares of the medical research company’s stock after purchasing an additional 256 shares during the period. New York Life Investment Management LLC’s holdings in Edwards Lifesciences were worth $8,668,000 at the end of the most recent reporting period.

Several other institutional investors have recently added to or reduced their stakes in the stock. Crewe Advisors LLC bought a new stake in shares of Edwards Lifesciences in the 1st quarter worth approximately $28,000. First Community Trust NA acquired a new position in Edwards Lifesciences in the second quarter valued at about $29,000. Riverview Trust Co bought a new stake in Edwards Lifesciences in the 1st quarter valued at approximately $34,000. DSM Capital Partners LLC purchased a new stake in Edwards Lifesciences during the fourth quarter valued at about $28,000. Finally, Webster Bank NA bought a new position in Edwards Lifesciences in the second quarter valued at about $39,000. 79.46% of shares are owned by institutional investors and hedge funds.

Insider Buying and Selling at Edwards Lifesciences

In other news, VP Daveen Chopra sold 1,250 shares of Edwards Lifesciences stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total value of $87,437.50. Following the transaction, the vice president now owns 29,333 shares of the company’s stock, valued at approximately $2,051,843.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC’s website. In other news, VP Daveen Chopra sold 1,250 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total transaction of $87,437.50. Following the completion of the sale, the vice president now directly owns 29,333 shares of the company’s stock, valued at approximately $2,051,843.35. The transaction was disclosed in a filing with the SEC, which is accessible via this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $93.29, for a total value of $466,450.00. Following the sale, the vice president now directly owns 46,936 shares in the company, valued at $4,378,659.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,250 shares of company stock worth $1,321,988. 1.29% of shares are held by insiders.

Analysts on Wall Street are forecasting an increase

A number of brokerages recently weighed in on EW. Barclays cut their price target on Edwards Lifesciences from $101.00 to $90.00 and set an “overweight” rating for the company in a report on Friday, July 26th. Stifel Nicolaus cut their price target on shares of Edwards Lifesciences from $85.00 to $70.00 and set a “hold” rating on the stock in a research report on Thursday, July 25th. Baird RW downgraded shares of Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 25th. Wells Fargo & Company cut their target price on shares of Edwards Lifesciences from $99.00 to $90.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Finally, Bank of America cut Edwards Lifesciences from a “buy” rating to a “neutral” rating and decreased their price target for the company from $105.00 to $75.00 in a report Thursday, July 25. Fourteen research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Moderate Buy” and a consensus price target of $82.10, according to MarketBeat.com.

See our latest research report on Edwards Lifesciences

Edwards Lifesciences Price Performance

Shares of NYSE:EW opened at $66.81 on Friday. The stock’s 50-day moving average price is $74.75 and its 200-day moving average price is $84.15. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.71, and a quick ratio of 2.87. The stock has a market cap of $40.26 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 2.92 and a beta of 1.11. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $96.12.

Edwards Lifesciences (NYSE:EW – Get Free Report ) last issued its quarterly earnings data on Wednesday, July 24th. The medical research company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.65 billion. In the same quarter last year, the business earned $0.66 EPS. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. Equities research analysts anticipate that Edwards Lifesciences Co. will post 2.7 earnings per share for the current fiscal year.

Edwards Lifesciences Company Profile

(Free report)

Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States, Europe, Japan and internationally. Offers transcatheter heart valve replacement products for minimally invasive aortic heart valve replacement within the Edwards SAPIEN family of valve systems; and transcatheter heart valve repair and replacement products for the treatment of mitral and tricuspid valve disease under the names PASCAL PRECISION and Cardioband.

See Also

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