Edwards Lifesciences Co. (NYSE:EW) Shares Sold by BlackRock Inc.

BlackRock Inc. reduced its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 8.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,861,170 shares of the medical research company’s stock after selling 4,592,480 shares during the period. BlackRock Inc. owned about 0.08% of Edwards Lifesciences worth $5,474,832,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in EW. Bank of New York Mellon Corp lifted its position in shares of Edwards Lifesciences by 6.4% in the 1st quarter. Bank of New York Mellon Corp now owns 23,170,971 shares of the medical research company’s stock worth $1,938,020,000 after buying an additional 1,387,141 shares during the last quarter. Capital International Investors lifted its position in Edwards Lifesciences by 5.8% in the 1st quarter. Capital International Investors now owns 18,887,161 shares of the medical research company’s stock valued at $1,579,642,000 after purchasing an additional 1,037,653 shares during the last quarter. Brown Advisory Inc. lifted its position in Edwards Lifesciences by 3.5% in the 1st quarter. Brown Advisory Inc. now owns 14,059,476 shares of the medical research company’s stock valued at $1,175,935,000 after purchasing an additional 478,113 shares during the last quarter. Janus Henderson Group PLC lifted its position in Edwards Lifesciences by 33.4% in the 1st quarter. Janus Henderson Group PLC now owns 12,990,116 shares of the medical research company’s stock valued at $1,086,493,000 after purchasing an additional 3,249,102 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Edwards Lifesciences by 1.3% during the 1st quarter. Geode Capital Management LLC now owns 9,912,054 shares of the medical research company’s stock worth $826,659,000 after buying an additional 122,660 shares in the last quarter. 80.13% of the stock is owned by institutional investors.

EW stock opened at $117.99 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.89 and a current ratio of 3.75. The stock has a market cap of $73.55 billion, a P/E ratio of 50.64, a P/E/G ratio of 3.40 and a beta of 1.08. The firm has a 50 day simple moving average of $114.82 and a 200 day simple moving average of $100.42. Edwards Lifesciences Co. has a 52 week low of $70.92 and a 52 week high of $123.27.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Thursday, July 29th. The medical research company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.55 by $0.09. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Edwards Lifesciences had a net margin of 29.69% and a return on equity of 29.73%. Sell-side analysts predict that Edwards Lifesciences Co. will post 2.26 EPS for the current year.

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 11,050 shares of Edwards Lifesciences stock in a transaction that occurred on Friday, September 10th. The shares were sold at an average price of $122.25, for a total value of $1,350,862.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Huimin Wang sold 6,350 shares of Edwards Lifesciences stock in a transaction that occurred on Wednesday, September 8th. The shares were sold at an average price of $121.25, for a total transaction of $769,937.50. The disclosure for this sale can be found here. Insiders sold 96,530 shares of company stock valued at $11,055,715 over the last quarter. Corporate insiders own 1.35% of the company’s stock.

A number of analysts have commented on EW shares. Cowen boosted their price target on shares of Edwards Lifesciences from $100.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, July 23rd. Canaccord Genuity lifted their price objective on shares of Edwards Lifesciences from $103.00 to $124.00 and gave the stock a “buy” rating in a research note on Friday, July 30th. Morgan Stanley lifted their price objective on shares of Edwards Lifesciences from $108.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, July 30th. SVB Leerink lifted their price objective on shares of Edwards Lifesciences from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, July 30th. Finally, The Goldman Sachs Group lifted their price objective on shares of Edwards Lifesciences from $93.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 3rd. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $116.33.

About Edwards Lifesciences

Edwards Lifesciences Corp. engages in the patient-focused medical innovations for heart disease and critical care monitoring. Its products are categorized into three areas: Transcatheter Heart Valves, Surgical Structural Heart, and Critical Care. The Transcatheter Heart Valves portfolio includes technologies designed to treat heart valve disease using catheter-based approaches as opposed to open surgical techniques.

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

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