MJP Associates Inc. ADV Raises Holdings in Edwards Lifesciences Co. (NYSE:EW)

MJP Associates Inc. ADV increased its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 4.1% during the 2nd quarter, Holdings Channel.com reports. The fund owned 8,590 shares of the medical research company’s stock after purchasing an additional 340 shares during the quarter. MJP Associates Inc. ADV’s holdings in Edwards Lifesciences were worth $793,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of EW. DAVENPORT & Co LLC bought a new position in Edwards Lifesciences during the 4th quarter valued at approximately $216,000. Prime Capital Investment Advisors LLC lifted its stake in Edwards Lifesciences by 33.1% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 5,353 shares of the medical research company’s stock worth $408,000 after acquiring an additional 1,331 shares during the period. Stratos Wealth Partners LTD. bought a new stake in Edwards Lifesciences in the fourth quarter valued at $1,212,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Edwards Lifesciences by 1.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 215,166 shares of the medical research company’s stock valued at $16,413,000 after acquiring an additional 3,923 shares in the last quarter. Finally, Bleakley Financial Group LLC increased its position in Edwards Lifesciences by 27.8% during the 4th quarter. Bleakley Financial Group LLC now owns 15,153 shares of the medical research company’s stock valued at $1,155,000 after purchasing an additional 3,296 shares during the period. 79.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $87.54, for a total transaction of $437,700.00. Following the completion of the sale, the vice president now owns 46,936 shares of the company’s stock, valued at approximately $4,108,777.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $87.54, for a total value of $437,700.00. Following the completion of the sale, the vice president now directly owns 46,936 shares in the company, valued at approximately $4,108,777.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Scott B. Ullem sold 5,625 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $90.45, for a total value of $508,781.25. Following the completion of the transaction, the chief financial officer now directly owns 30,561 shares in the company, valued at $2,764,242.45. The disclosure for this sale can be found here. Insiders sold 24,242 shares of company stock valued at $2,168,470 over the last 90 days. Company insiders own 1.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on EW. TD Cowen lowered shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $100.00 to $70.00 in a report on Thursday, July 25th. Robert W. Baird cut Edwards Lifesciences from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $102.00 to $70.00 in a research note on Thursday, July 25th. Evercore ISI reduced their price target on Edwards Lifesciences from $91.00 to $76.00 and set an “in-line” rating on the stock in a research note on Thursday, July 25th. Citigroup raised their price objective on Edwards Lifesciences from $105.00 to $106.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, Oppenheimer reduced their target price on shares of Edwards Lifesciences from $100.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Fourteen research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $82.10.

Edwards Lifesciences Stock Performance

NYSE:EW traded up $1.35 during mid-day trading on Friday, reaching $64.64. The company’s stock had a trading volume of 5,985,117 shares, compared to its average volume of 4,027,077. The firm’s fifty day moving average price is $82.82 and its two-hundred day moving average price is $86.16. The company has a current ratio of 3.71, a quick ratio of 2.87 and a debt-to-equity ratio of 0.08. The stock has a market cap of $38.95 billion, a P/E ratio of 27.86, a PEG ratio of 2.57 and a beta of 1.11. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $96.12.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings data on Wednesday, July 24th. The medical research company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the firm earned $0.66 earnings per share. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. On average, equities analysts forecast that Edwards Lifesciences Co. will post 2.71 EPS for the current fiscal year.

About Edwards Lifesciences

Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of aortic heart valves under the Edwards SAPIEN family of valves system; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases under the PASCAL PRECISION and Cardioband names.