QRG Capital Management Inc. Increases Stake in Edwards Lifesciences Co. (NYSE:EW)

QRG Capital Management Inc. raised its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 66.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 77,245 shares of the medical research company’s stock after purchasing an additional 30,892 shares during the quarter. QRG Capital Management Inc.’s holdings in Edwards Lifesciences were worth $5,097,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Crewe Advisors LLC purchased a new stake in shares of Edwards Lifesciences during the 1st quarter valued at approximately $28,000. First Community Trust NA purchased a new stake in shares of Edwards Lifesciences during the second quarter worth $29,000. Webster Bank N. A. bought a new position in shares of Edwards Lifesciences in the second quarter worth $39,000. Peoples Bank KS purchased a new position in shares of Edwards Lifesciences in the third quarter valued at $40,000. Finally, Versant Capital Management Inc raised its stake in shares of Edwards Lifesciences by 206.3% during the 2nd quarter. Versant Capital Management Inc now owns 484 shares of the medical research company’s stock valued at $45,000 after purchasing an additional 326 shares during the period. Institutional investors own 79.46% of the company’s stock.

Insider Transactions at Edwards Lifesciences

In other Edwards Lifesciences news, insider Larry L. Wood sold 25,000 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $65.91, for a total transaction of $1,647,750.00. Following the completion of the sale, the insider now owns 198,526 shares of the company’s stock, valued at $13,084,848.66. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Edwards Lifesciences news, VP Daveen Chopra sold 1,250 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total transaction of $87,437.50. Following the completion of the transaction, the vice president now owns 29,333 shares of the company’s stock, valued at $2,051,843.35. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Larry L. Wood sold 25,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $65.91, for a total value of $1,647,750.00. Following the completion of the sale, the insider now owns 198,526 shares of the company’s stock, valued at approximately $13,084,848.66. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,250 shares of company stock worth $2,746,988. Insiders own 1.27% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Citigroup reduced their target price on Edwards Lifesciences from $83.00 to $77.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Robert W. Baird lowered their target price on shares of Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. TD Cowen lowered shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and reduced their price target for the company from $100.00 to $70.00 in a research report on Thursday, July 25th. Evercore ISI lowered their price objective on Edwards Lifesciences from $76.00 to $70.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 1st. Finally, Daiwa Capital Markets raised Edwards Lifesciences from a “neutral” rating to an “outperform” rating in a research note on Wednesday, July 31st. Seventeen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $75.67.

Edwards Lifesciences Stock Performance

NYSE EW opened at $66.69 on Wednesday. The company has a 50-day simple moving average of $67.81 and a two-hundred day simple moving average of $77.26. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $96.12. The firm has a market cap of $40.17 billion, a price-to-earnings ratio of 9.62, a PEG ratio of 3.80 and a beta of 1.12. The company has a quick ratio of 2.87, a current ratio of 3.71 and a debt-to-equity ratio of 0.08.

Edwards Lifesciences (NYSE:EW) last issued its earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share for the quarter, meeting the consensus estimate of $0.67. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Edwards Lifesciences had a return on equity of 22.56% and a net margin of 70.82%. Edwards Lifesciences’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.59 EPS. On average, equities analysts forecast that Edwards Lifesciences Co. will post 2.57 EPS for the current year.

Edwards Lifesciences Company Profile

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.