Monument Capital Management trimmed its position in Edwards Lifesciences Corp (NYSE:EW) by 5.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,540 shares of the medical research company’s stock after selling 712 shares during the quarter. Edwards Lifesciences makes up 1.4% of Monument Capital Management’s investment portfolio, making the stock its 23rd largest position. Monument Capital Management’s holdings in Edwards Lifesciences were worth $2,692,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in EW. Nuveen Asset Management LLC raised its holdings in shares of Edwards Lifesciences by 8,278.5% in 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 purchasing an additional 3,904,405 shares in the last quarter. Marshall Wace North America L.P. raised its stake in Edwards Lifesciences by 394.9% during the 2nd quarter. Marshall Wace North America L.P. now owns 364,492 shares of the medical research company’s stock worth $67,336,000 after acquiring an additional 290,838 shares in the last quarter. Invesco Ltd. raised its stake in Edwards Lifesciences by 16.1% during the 2nd quarter. Invesco Ltd. now owns 1,094,610 shares of the medical research company’s stock worth $202,218,000 after acquiring an additional 151,686 shares in the last quarter. Morgan Stanley raised its stake in Edwards Lifesciences by 16.3% during the 2nd quarter. Morgan Stanley now owns 1,003,510 shares of the medical research company’s stock worth $185,387,000 after acquiring an additional 140,533 shares in the last quarter. Finally, Eaton Vance Management acquired a new stake in Edwards Lifesciences during the 2nd quarter worth $24,759,000. Institutional investors and hedge funds own 80.74% of the company’s stock.
Several equities research analysts recently commented on the stock. Morgan Stanley lifted their price target on shares of Edwards Lifesciences from $248.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Raymond James lifted their price target on shares of Edwards Lifesciences from $255.00 to $263.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Cowen reiterated a “buy” rating and set a $275.00 price target on shares of Edwards Lifesciences in a research note on Tuesday, December 17th. Credit Suisse Group lifted their price target on shares of Edwards Lifesciences from $269.00 to $275.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Finally, Royal Bank of Canada lifted their price target on shares of Edwards Lifesciences from $217.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $239.42.
Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $1.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.19. Edwards Lifesciences had a net margin of 18.64% and a return on equity of 32.28%. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the firm posted $1.07 EPS. Edwards Lifesciences’s revenue for the quarter was up 20.7% on a year-over-year basis. On average, equities research analysts forecast that Edwards Lifesciences Corp will post 5.6 EPS for the current fiscal year.
In other news, CEO Michael A. Mussallem sold 22,850 shares of Edwards Lifesciences stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $238.79, for a total value of $5,456,351.50. Following the sale, the chief executive officer now owns 95,770 shares of the company’s stock, valued at $22,868,918.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Catherine M. Szyman sold 2,500 shares of Edwards Lifesciences stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $227.19, for a total transaction of $567,975.00. Following the completion of the sale, the vice president now directly owns 19,605 shares in the company, valued at approximately $4,454,059.95. The disclosure for this sale can be found here. Insiders have sold a total of 174,241 shares of company stock worth $40,929,955 over the last three months. 1.63% of the stock is currently owned by insiders.
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.
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