Abner Herrman & Brock LLC trimmed its stake in Edwards Lifesciences Corp (NYSE:EW) by 2.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,625 shares of the medical research company’s stock after selling 553 shares during the quarter. Abner Herrman & Brock LLC’s holdings in Edwards Lifesciences were worth $3,513,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of EW. Manchester Financial Inc. bought a new position in shares of Edwards Lifesciences during the 4th quarter worth approximately $26,000. Princeton Global Asset Management LLC bought a new position in shares of Edwards Lifesciences during the 4th quarter worth approximately $26,000. Savior LLC bought a new position in shares of Edwards Lifesciences during the 4th quarter worth approximately $27,000. Evolution Wealth Advisors LLC boosted its stake in shares of Edwards Lifesciences by 990.9% during the 4th quarter. Evolution Wealth Advisors LLC now owns 120 shares of the medical research company’s stock worth $28,000 after acquiring an additional 109 shares during the period. Finally, Sugarloaf Wealth Management LLC bought a new position in shares of Edwards Lifesciences during the 4th quarter worth approximately $47,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.
In related news, VP Catherine M. Szyman sold 1,116 shares of the stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $162.95, for a total value of $181,852.20. Following the sale, the vice president now owns 15,773 shares in the company, valued at $2,570,210.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael A. Mussallem sold 22,850 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $229.62, for a total value of $5,246,817.00. Following the completion of the sale, the chief executive officer now owns 69,976 shares in the company, valued at approximately $16,067,889.12. The disclosure for this sale can be found here. Insiders sold 84,539 shares of company stock worth $18,034,510 in the last quarter. 1.48% of the stock is currently owned by company insiders.
Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Thursday, January 30th. The medical research company reported $1.46 EPS for the quarter, missing the Zacks’ consensus estimate of $1.49 by ($0.03). Edwards Lifesciences had a return on equity of 31.73% and a net margin of 24.08%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the business earned $1.17 earnings per share. Edwards Lifesciences’s revenue was up 20.1% on a year-over-year basis. On average, research analysts forecast that Edwards Lifesciences Corp will post 5.72 EPS for the current year.
Several research analysts have recently commented on EW shares. Citigroup reduced their target price on Edwards Lifesciences from $252.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, March 27th. UBS Group boosted their price target on Edwards Lifesciences from $255.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. BTIG Research began coverage on Edwards Lifesciences in a research note on Thursday, February 6th. They issued a “hold” rating for the company. Raymond James reduced their price target on Edwards Lifesciences from $263.00 to $230.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, Credit Suisse Group dropped their price objective on Edwards Lifesciences from $278.00 to $267.00 and set an “outperform” rating for the company in a report on Friday, March 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $247.00.
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.
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