Oakworth Capital Inc. Raises Stock Holdings in Edwards Lifesciences Corp (NYSE:EW)

Oakworth Capital Inc. lifted its holdings in shares of Edwards Lifesciences Corp (NYSE:EW) by 21.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,550 shares of the medical research company’s stock after acquiring an additional 270 shares during the quarter. Oakworth Capital Inc.’s holdings in Edwards Lifesciences were worth $286,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. FTB Advisors Inc. bought a new position in Edwards Lifesciences during the first quarter valued at $25,000. TRUE Private Wealth Advisors bought a new position in Edwards Lifesciences during the second quarter valued at $26,000. Evolution Wealth Advisors LLC bought a new position in Edwards Lifesciences during the second quarter valued at $29,000. M&R Capital Management Inc. bought a new position in Edwards Lifesciences during the second quarter valued at $29,000. Finally, Next Capital Management LLC grew its holdings in Edwards Lifesciences by 297.7% during the second quarter. Next Capital Management LLC now owns 171 shares of the medical research company’s stock valued at $32,000 after purchasing an additional 128 shares during the period. 82.43% of the stock is owned by institutional investors.

Shares of Edwards Lifesciences stock traded up $4.13 during trading hours on Friday, reaching $219.34. The company had a trading volume of 1,076,700 shares, compared to its average volume of 1,167,040. Edwards Lifesciences Corp has a one year low of $136.44 and a one year high of $220.48. The business has a fifty day simple moving average of $201.89 and a 200 day simple moving average of $185.13. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.38 and a quick ratio of 2.48. The firm has a market cap of $44.76 billion, a PE ratio of 46.67, a price-to-earnings-growth ratio of 2.71 and a beta of 0.87.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Tuesday, July 23rd. The medical research company reported $1.38 EPS for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.05. Edwards Lifesciences had a return on equity of 31.25% and a net margin of 18.29%. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the company earned $1.24 earnings per share. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. On average, research analysts forecast that Edwards Lifesciences Corp will post 5.34 EPS for the current year.

In related news, VP Donald E. Bobo, Jr. sold 5,369 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.26, for a total value of $1,161,099.94. Following the sale, the vice president now owns 26,082 shares in the company, valued at $5,640,493.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Catherine M. Szyman sold 372 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $214.53, for a total value of $79,805.16. Following the completion of the sale, the vice president now owns 18,010 shares in the company, valued at approximately $3,863,685.30. The disclosure for this sale can be found here. Insiders sold 137,951 shares of company stock valued at $27,076,240 over the last ninety days. Corporate insiders own 1.63% of the company’s stock.

EW has been the subject of several research reports. Bank of America reissued a “buy” rating and set a $225.00 price objective (up from $215.00) on shares of Edwards Lifesciences in a report on Wednesday, July 24th. JPMorgan Chase & Co. increased their price objective on Edwards Lifesciences from $190.00 to $225.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Canaccord Genuity increased their price objective on Edwards Lifesciences from $215.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. BTIG Research reissued a “hold” rating on shares of Edwards Lifesciences in a report on Thursday, July 25th. Finally, Zacks Investment Research raised Edwards Lifesciences from a “hold” rating to a “buy” rating and set a $232.00 price objective for the company in a report on Thursday, July 25th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $204.74.

Edwards Lifesciences 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.

Further Reading: Catch-Up Contributions

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

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