Watch Point Trust Co Has $293,000 Stock Holdings in Edwards Lifesciences Corp (NYSE:EW)

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Watch Point Trust Co cut its position in Edwards Lifesciences Corp (NYSE:EW) by 21.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,587 shares of the medical research company’s stock after selling 445 shares during the quarter. Watch Point Trust Co’s holdings in Edwards Lifesciences were worth $293,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. lifted its position in Edwards Lifesciences by 4.7% in the 1st quarter. BlackRock Inc. now owns 17,211,498 shares of the medical research company’s stock valued at $3,293,075,000 after acquiring an additional 780,079 shares in the last quarter. FMR LLC lifted its position in Edwards Lifesciences by 7.9% in the 1st quarter. FMR LLC now owns 8,175,796 shares of the medical research company’s stock valued at $1,564,274,000 after acquiring an additional 598,976 shares in the last quarter. Jennison Associates LLC lifted its position in Edwards Lifesciences by 40.2% in the 1st quarter. Jennison Associates LLC now owns 5,763,824 shares of the medical research company’s stock valued at $1,102,792,000 after acquiring an additional 1,651,691 shares in the last quarter. Geode Capital Management LLC lifted its position in Edwards Lifesciences by 7.4% in the 4th quarter. Geode Capital Management LLC now owns 2,942,494 shares of the medical research company’s stock valued at $449,976,000 after acquiring an additional 202,248 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Edwards Lifesciences by 1.0% in the 1st quarter. Northern Trust Corp now owns 2,373,668 shares of the medical research company’s stock valued at $454,154,000 after acquiring an additional 22,536 shares in the last quarter. Institutional investors own 82.43% of the company’s stock.

Shares of Edwards Lifesciences stock traded up $3.30 during mid-day trading on Thursday, hitting $216.81. 25,008 shares of the stock were exchanged, compared to its average volume of 1,186,828. Edwards Lifesciences Corp has a 12 month low of $134.53 and a 12 month high of $219.71. The firm’s 50-day moving average is $200.64. 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 stock has a market capitalization of $44.90 billion, a P/E ratio of 45.96, a P/E/G ratio of 2.72 and a beta of 0.87.

Edwards Lifesciences (NYSE:EW) last posted its earnings results on Tuesday, July 23rd. The medical research company reported $1.38 EPS for the quarter, topping the Thomson Reuters’ 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 analysts’ expectations of $1.04 billion. During the same quarter last year, the firm earned $1.24 EPS. The company’s quarterly revenue was up 15.2% compared to the same quarter last year. On average, research analysts predict that Edwards Lifesciences Corp will post 5.34 EPS for the current fiscal year.

Several brokerages recently weighed in on EW. Zacks Investment Research raised shares of Edwards Lifesciences from a “hold” rating to a “buy” rating and set a $232.00 price target on the stock in a research report on Thursday, July 25th. Bank of America reaffirmed a “buy” rating and issued a $225.00 price target (up previously from $215.00) on shares of Edwards Lifesciences in a research report on Wednesday, July 24th. Wells Fargo & Co raised their price target on shares of Edwards Lifesciences from $207.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. BMO Capital Markets raised their price target on shares of Edwards Lifesciences from $204.00 to $224.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, Barclays raised their price target on shares of Edwards Lifesciences from $160.00 to $175.00 and gave the company an “underweight” rating in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $204.74.

In related news, Director Schack Wesley W. Von sold 3,000 shares of Edwards Lifesciences stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $217.27, for a total value of $651,810.00. Following the sale, the director now owns 1,737 shares of the company’s stock, valued at approximately $377,397.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,369 shares of Edwards Lifesciences stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $175.06, for a total transaction of $939,897.14. Following the completion of the sale, the vice president now directly owns 26,043 shares in the company, valued at approximately $4,559,087.58. The disclosure for this sale can be found here. In the last three months, insiders have sold 142,948 shares of company stock worth $27,936,332. Insiders own 1.63% of the company’s stock.

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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Want to see what other hedge funds are holding EW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Edwards Lifesciences Corp (NYSE:EW).

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

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