Lockheed Martin Investment Management Co. reduced its stake in shares of Edwards Lifesciences Corporation (NYSE:EW) by 64.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,400 shares of the medical research company’s stock after selling 15,500 shares during the quarter. Lockheed Martin Investment Management Co.’s holdings in Edwards Lifesciences Corporation were worth $918,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Edwards Lifesciences Corporation by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 20,748,569 shares of the medical research company’s stock valued at $2,453,311,000 after buying an additional 406,901 shares in the last quarter. BlackRock Inc. increased its position in Edwards Lifesciences Corporation by 0.8% during the 2nd quarter. BlackRock Inc. now owns 14,109,514 shares of the medical research company’s stock valued at $1,668,309,000 after buying an additional 105,819 shares in the last quarter. Bank of New York Mellon Corp increased its position in Edwards Lifesciences Corporation by 161.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,304,536 shares of the medical research company’s stock valued at $627,207,000 after buying an additional 3,277,726 shares in the last quarter. American Century Companies Inc. increased its position in Edwards Lifesciences Corporation by 7.0% during the 3rd quarter. American Century Companies Inc. now owns 2,224,010 shares of the medical research company’s stock valued at $243,107,000 after buying an additional 144,701 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of Edwards Lifesciences Corporation by 13.3% in the second quarter. Wells Fargo & Company MN now owns 2,119,260 shares of the medical research company’s stock valued at $250,581,000 after purchasing an additional 248,293 shares during the period. Hedge funds and other institutional investors own 82.17% of the company’s stock.
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Shares of Edwards Lifesciences Corporation (NYSE EW) traded down $0.06 during midday trading on Tuesday, hitting $105.18. The stock had a trading volume of 379,077 shares, compared to its average volume of 1,647,799. Edwards Lifesciences Corporation has a twelve month low of $81.12 and a twelve month high of $121.45. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.49 and a quick ratio of 2.76. The firm has a market capitalization of $22,110.00, a PE ratio of 28.77, a PEG ratio of 1.86 and a beta of 0.46.
Edwards Lifesciences Corporation (NYSE:EW) last released its earnings results on Tuesday, October 24th. The medical research company reported $0.84 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.02). The company had revenue of $821.50 million during the quarter, compared to analysts’ expectations of $833.85 million. Edwards Lifesciences Corporation had a net margin of 22.47% and a return on equity of 27.22%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the business posted $0.68 earnings per share. analysts expect that Edwards Lifesciences Corporation will post 3.75 EPS for the current year.
A number of research analysts have recently weighed in on EW shares. BMO Capital Markets reissued a “buy” rating and issued a $132.00 price objective on shares of Edwards Lifesciences Corporation in a report on Friday, September 1st. William Blair reissued an “outperform” rating on shares of Edwards Lifesciences Corporation in a report on Monday, August 28th. Barclays PLC upped their target price on Edwards Lifesciences Corporation from $108.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 27th. Zacks Investment Research upgraded Edwards Lifesciences Corporation from a “hold” rating to a “buy” rating and set a $130.00 target price on the stock in a research note on Tuesday, July 18th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $130.00 target price on shares of Edwards Lifesciences Corporation in a research note on Friday, September 1st. Seven analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $125.17.
About Edwards Lifesciences Corporation
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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