Assenagon Asset Management S.A. Sells 209,670 Shares of Edwards Lifesciences Corp (NYSE:EW)

Assenagon Asset Management S.A. decreased its stake in shares of Edwards Lifesciences Corp (NYSE:EW) by 95.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 9,947 shares of the medical research company’s stock after selling 209,670 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Edwards Lifesciences were worth $2,187,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of EW. Jennison Associates LLC boosted its position in shares of Edwards Lifesciences by 4.8% during the 2nd quarter. Jennison Associates LLC now owns 6,039,006 shares of the medical research company’s stock valued at $1,115,646,000 after acquiring an additional 275,182 shares in the last quarter. Nuveen Asset Management LLC boosted its position in shares of Edwards Lifesciences by 8,278.5% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,951,568 shares of the medical research company’s stock valued at $730,013,000 after acquiring an additional 3,904,405 shares in the last quarter. Northern Trust Corp boosted its position in shares of Edwards Lifesciences by 2.1% during the 2nd quarter. Northern Trust Corp now owns 2,422,599 shares of the medical research company’s stock valued at $447,551,000 after acquiring an additional 48,931 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Edwards Lifesciences by 7.2% during the 2nd quarter. Royal Bank of Canada now owns 1,650,840 shares of the medical research company’s stock valued at $304,976,000 after acquiring an additional 110,497 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. boosted its position in shares of Edwards Lifesciences by 9.7% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 1,314,685 shares of the medical research company’s stock valued at $242,876,000 after acquiring an additional 115,881 shares in the last quarter. Institutional investors own 81.80% of the company’s stock.

In other news, VP Huimin Wang sold 4,650 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $211.54, for a total transaction of $983,661.00. Following the transaction, the vice president now directly owns 36,898 shares in the company, valued at $7,805,402.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William J. Phd Link sold 10,214 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $221.86, for a total transaction of $2,266,078.04. Following the transaction, the director now owns 16,817 shares in the company, valued at $3,731,019.62. The disclosure for this sale can be found here. Insiders have sold 154,670 shares of company stock worth $33,420,945 over the last quarter. 1.63% of the stock is owned by company insiders.

Several analysts have recently weighed in on the stock. Wells Fargo & Co lifted their target price on shares of Edwards Lifesciences from $220.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. Citigroup set a $159.00 target price on shares of Edwards Lifesciences and gave the company a “sell” rating in a research report on Friday, July 26th. Zacks Investment Research upgraded shares of Edwards Lifesciences from a “hold” rating to a “buy” rating and set a $232.00 target price on the stock in a research report on Thursday, July 25th. Canaccord Genuity lifted their target price on shares of Edwards Lifesciences from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Piper Jaffray Companies started coverage on shares of Edwards Lifesciences in a research report on Monday, September 23rd. They issued an “overweight” rating and a $240.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $219.06.

NYSE:EW opened at $227.46 on Friday. The firm has a market cap of $47.38 billion, a PE ratio of 48.40, a price-to-earnings-growth ratio of 2.87 and a beta of 0.84. Edwards Lifesciences Corp has a 12 month low of $136.44 and a 12 month high of $230.19. The company has a quick ratio of 2.48, a current ratio of 3.38 and a debt-to-equity ratio of 0.18. The company’s 50-day moving average price is $221.73 and its two-hundred day moving average price is $198.64.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Tuesday, July 23rd. The medical research company reported $1.38 EPS for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.05. Edwards Lifesciences had a net margin of 18.29% and a return on equity of 31.25%. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the business earned $1.24 earnings per share. The company’s revenue for the quarter was up 15.2% compared to the same quarter last year. On average, research analysts expect that Edwards Lifesciences Corp will post 5.33 EPS for the current fiscal year.

About Edwards Lifesciences

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.

Further Reading: Basic Economics

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

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