MAI Capital Management Purchases 152 Shares of Edwards Lifesciences Co. (NYSE:EW)

MAI Capital Management increased its holdings in Edwards Lifesciences Co. (NYSE:EW) by 0.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 63,608 shares of the medical research company’s stock after buying an additional 152 shares during the period. MAI Capital Management’s holdings in Edwards Lifesciences were worth $4,197,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EW. Price T Rowe Associates Inc. MD increased its stake in shares of Edwards Lifesciences by 57.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,516,260 shares of the medical research company’s stock valued at $622,695,000 after buying an additional 2,390,137 shares during the period. Swedbank AB purchased a new position in Edwards Lifesciences in the 1st quarter worth approximately $124,511,000. Bank of New York Mellon Corp lifted its holdings in shares of Edwards Lifesciences by 4.3% during the second quarter. Bank of New York Mellon Corp now owns 19,782,909 shares of the medical research company’s stock valued at $1,827,347,000 after purchasing an additional 809,605 shares in the last quarter. AustralianSuper Pty Ltd boosted its position in shares of Edwards Lifesciences by 17.8% during the third quarter. AustralianSuper Pty Ltd now owns 3,273,416 shares of the medical research company’s stock valued at $216,013,000 after buying an additional 494,604 shares during the last quarter. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund lifted its stake in Edwards Lifesciences by 422.3% during the 3rd quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 450,233 shares of the medical research company’s stock valued at $29,711,000 after acquiring an additional 364,030 shares during the period. 79.46% of the stock is currently owned by institutional investors.

Insider Activity

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $69.51, for a total value of $347,550.00. Following the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,262,521.36. This represents a 9.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Larry L. Wood sold 25,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were 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 in the company, valued at approximately $13,084,848.66. This represents a 11.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 40,000 shares of company stock valued at $2,657,000. 1.27% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

EW has been the topic of a number of research reports. Daiwa America downgraded Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Edwards Lifesciences from $103.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Truist Financial cut their price objective on Edwards Lifesciences from $71.00 to $70.00 and set a “hold” rating for the company in a research note on Friday, October 25th. Citigroup decreased their target price on Edwards Lifesciences from $83.00 to $77.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. Finally, Oppenheimer restated an “outperform” rating and set a $90.00 price target on shares of Edwards Lifesciences in a report on Thursday, September 12th. Seventeen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $75.67.

Edwards Lifesciences Trading Up 0.4 %

Shares of Edwards Lifesciences stock opened at $70.20 on Wednesday. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. Edwards Lifesciences Co. has a twelve month low of $58.93 and a twelve month high of $96.12. The firm has a market capitalization of $41.40 billion, a PE ratio of 10.13, a P/E/G ratio of 3.81 and a beta of 1.12. The firm’s 50-day moving average price is $67.59 and its 200 day moving average price is $75.91.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Thursday, October 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.67. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.57 billion. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. Edwards Lifesciences’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.59 earnings per share. On average, sell-side analysts predict that Edwards Lifesciences Co. will post 2.57 EPS for the current fiscal year.

Edwards Lifesciences 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.