Eagle Asset Management Inc. Acquires 8,346 Shares of Edwards Lifesciences Co. (NYSE:EW)

Eagle Asset Management Inc. grew its position in shares of Edwards Lifesciences Co. (NYSE:EW) by 38.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,282 shares of the medical research company’s stock after purchasing an additional 8,346 shares during the period. Eagle Asset Management Inc.’s holdings in Edwards Lifesciences were worth $2,006,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of EW. Charles Schwab Investment Management Inc. boosted its holdings in shares of Edwards Lifesciences by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,659,102 shares of the medical research company’s stock valued at $241,464,000 after purchasing an additional 53,181 shares during the period. Integrated Investment Consultants LLC acquired a new stake in shares of Edwards Lifesciences in the 3rd quarter worth $1,063,000. Intech Investment Management LLC grew its position in Edwards Lifesciences by 324.2% during the 3rd quarter. Intech Investment Management LLC now owns 398,625 shares of the medical research company’s stock worth $26,305,000 after purchasing an additional 304,645 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Edwards Lifesciences by 7.7% in the third quarter. Advisors Asset Management Inc. now owns 11,856 shares of the medical research company’s stock valued at $782,000 after purchasing an additional 852 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Edwards Lifesciences by 32.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 213,700 shares of the medical research company’s stock worth $14,102,000 after purchasing an additional 51,896 shares during the last quarter. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Price Performance

Shares of NYSE:EW opened at $71.26 on Tuesday. Edwards Lifesciences Co. has a twelve month low of $58.93 and a twelve month high of $96.12. The business has a 50 day moving average price of $67.74 and a 200 day moving average price of $75.48. The company has a market cap of $42.03 billion, a price-to-earnings ratio of 10.28, a PEG ratio of 3.96 and a beta of 1.12. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Thursday, October 24th. The medical research company reported $0.67 EPS for the quarter, hitting analysts’ consensus estimates of $0.67. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.59 earnings per share. Research analysts predict that Edwards Lifesciences Co. will post 2.57 earnings per share for the current year.

Insider Transactions at Edwards Lifesciences

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $65.57, for a total value of $327,850.00. Following the completion of the transaction, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,077,593.52. The trade was a 9.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Larry L. Wood sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $65.91, for a total transaction of $1,647,750.00. Following the completion of the transaction, the insider now owns 198,526 shares of the company’s stock, valued at $13,084,848.66. This trade represents a 11.18 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,000 shares of company stock worth $2,657,000. Corporate insiders own 1.27% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Morgan Stanley reissued an “equal weight” rating and set a $70.00 price target on shares of Edwards Lifesciences in a report on Friday, October 11th. Oppenheimer restated an “outperform” rating and issued a $90.00 price objective on shares of Edwards Lifesciences in a report on Thursday, September 12th. JPMorgan Chase & Co. upped their price target on Edwards Lifesciences from $72.00 to $78.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Citigroup cut their price objective on shares of Edwards Lifesciences from $83.00 to $77.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Finally, Evercore ISI decreased their price target on Edwards Lifesciences from $76.00 to $70.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 1st. Seventeen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $75.67.

Edwards Lifesciences Profile

Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of aortic heart valves under the Edwards SAPIEN family of valves system; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases under the PASCAL PRECISION and Cardioband names.