Chartwell Investment Partners LLC Boosts Stake in Edwards Lifesciences Corp (EW)

Chartwell Investment Partners LLC grew its stake in shares of Edwards Lifesciences Corp (NYSE:EW) by 61.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,872 shares of the medical research company’s stock after acquiring an additional 2,998 shares during the period. Chartwell Investment Partners LLC’s holdings in Edwards Lifesciences were worth $1,506,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of EW. Executive Wealth Management LLC acquired a new stake in shares of Edwards Lifesciences during the 4th quarter valued at approximately $25,000. Sontag Advisory LLC acquired a new stake in shares of Edwards Lifesciences during the 4th quarter valued at approximately $26,000. Lindbrook Capital LLC acquired a new stake in shares of Edwards Lifesciences during the 4th quarter valued at approximately $27,000. Capital Financial Planning LLC acquired a new stake in shares of Edwards Lifesciences during the 4th quarter valued at approximately $28,000. Finally, Nelson Roberts Investment Advisors LLC acquired a new stake in shares of Edwards Lifesciences during the 4th quarter valued at approximately $30,000. Institutional investors own 84.87% of the company’s stock.

A number of brokerages have recently weighed in on EW. Citigroup raised their price objective on shares of Edwards Lifesciences from $118.00 to $119.00 and gave the stock a “sell” rating in a research note on Wednesday, January 2nd. BMO Capital Markets raised their price objective on shares of Edwards Lifesciences to $204.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Canaccord Genuity raised their price objective on shares of Edwards Lifesciences from $177.00 to $186.00 and gave the stock a “positive” rating in a research note on Wednesday, January 16th. Credit Suisse Group began coverage on shares of Edwards Lifesciences in a research note on Monday, December 17th. They set an “outperform” rating and a $188.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their price objective on shares of Edwards Lifesciences from $175.00 to $190.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 27th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the stock. Edwards Lifesciences currently has an average rating of “Buy” and an average target price of $182.29.

In other Edwards Lifesciences news, VP Jean-Luc M. Lemercier sold 4,186 shares of Edwards Lifesciences stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $188.23, for a total value of $787,930.78. Following the transaction, the vice president now owns 44,596 shares in the company, valued at approximately $8,394,305.08. 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 32,800 shares of Edwards Lifesciences stock in a transaction on Friday, March 8th. The shares were sold at an average price of $167.89, for a total transaction of $5,506,792.00. Following the completion of the transaction, the chief executive officer now owns 67,126 shares in the company, valued at approximately $11,269,784.14. The disclosure for this sale can be found here. Insiders sold a total of 112,854 shares of company stock valued at $19,838,296 over the last ninety days. 1.84% of the stock is owned by corporate insiders.

EW stock opened at $189.23 on Tuesday. The company has a market capitalization of $40.04 billion, a price-to-earnings ratio of 40.26, a PEG ratio of 2.46 and a beta of 0.91. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.61 and a quick ratio of 1.92. Edwards Lifesciences Corp has a one year low of $123.00 and a one year high of $197.86.

Edwards Lifesciences (NYSE:EW) last released its earnings results on Thursday, January 31st. The medical research company reported $1.17 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.17. The firm had revenue of $977.70 million during the quarter, compared to analysts’ expectations of $973.72 million. Edwards Lifesciences had a net margin of 19.40% and a return on equity of 31.09%. During the same period in the previous year, the company earned $0.94 EPS. As a group, sell-side analysts expect that Edwards Lifesciences Corp will post 5.22 EPS for the current year.

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Edwards Lifesciences Company Profile

Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States and internationally. It offers transcatheter heart valve therapy products comprising transcatheter aortic valve replacement, and transcatheter mitral and tricuspid therapies for the nonsurgical replacement of heart valves.

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Institutional Ownership by Quarter for Edwards Lifesciences (NYSE:EW)

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