Legacy Wealth Management LLC MS Raises Stake in Edwards Lifesciences Co. (NYSE:EW)

Legacy Wealth Management LLC MS raised its position in shares of Edwards Lifesciences Co. (NYSE:EW) by 48.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,081 shares of the medical research company’s stock after purchasing an additional 4,605 shares during the quarter. Legacy Wealth Management LLC MS’s holdings in Edwards Lifesciences were worth $929,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in Edwards Lifesciences by 86.3% during the third quarter. Wellington Management Group LLP now owns 31,532,725 shares of the medical research company’s stock valued at $2,080,845,000 after purchasing an additional 14,610,123 shares in the last quarter. State Street Corp lifted its holdings in shares of Edwards Lifesciences by 1.0% in the third quarter. State Street Corp now owns 26,265,633 shares of the medical research company’s stock worth $1,733,270,000 after buying an additional 256,538 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Edwards Lifesciences by 4.3% in the second quarter. Bank of New York Mellon Corp now owns 19,782,909 shares of the medical research company’s stock worth $1,827,347,000 after buying an additional 809,605 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Edwards Lifesciences by 2.2% in the third quarter. Geode Capital Management LLC now owns 13,521,147 shares of the medical research company’s stock worth $889,050,000 after buying an additional 284,918 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in shares of Edwards Lifesciences by 9.8% in the third quarter. Fisher Asset Management LLC now owns 9,078,311 shares of the medical research company’s stock worth $599,078,000 after buying an additional 806,705 shares in the last quarter. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on EW shares. Jefferies Financial Group downgraded shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and lowered their target price for the stock from $85.00 to $70.00 in a report on Wednesday, September 18th. Royal Bank of Canada boosted their target price on shares of Edwards Lifesciences from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, December 5th. Sanford C. Bernstein raised shares of Edwards Lifesciences from a “strong sell” rating to a “hold” rating in a report on Monday, October 28th. Daiwa America downgraded shares of Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, Oppenheimer restated an “outperform” rating and issued a $90.00 price target on shares of Edwards Lifesciences in a research report on Thursday, September 12th. Seventeen research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Edwards Lifesciences currently has a consensus rating of “Hold” and an average price target of $78.65.

Insider Buying and Selling

In other Edwards Lifesciences news, insider Larry L. Wood sold 25,000 shares of the stock in a transaction dated 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 directly owns 198,526 shares of the company’s stock, valued at approximately $13,084,848.66. This represents a 11.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $65.57, for a total transaction of $327,850.00. Following the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,077,593.52. The trade was a 9.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,000 shares of company stock valued at $2,323,150 over the last three months. 1.29% of the stock is owned by company insiders.

Edwards Lifesciences Trading Down 0.7 %

Shares of NYSE EW traded down $0.53 during mid-day trading on Friday, reaching $73.44. The company had a trading volume of 827,249 shares, compared to its average volume of 4,633,324. The business’s 50-day moving average is $69.26 and its 200-day moving average is $74.19. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. The stock has a market cap of $43.31 billion, a price-to-earnings ratio of 10.67, a price-to-earnings-growth ratio of 3.63 and a beta of 1.12. Edwards Lifesciences Co. has a 52 week low of $58.93 and a 52 week high of $96.12.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Thursday, October 24th. The medical research company reported $0.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.67. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same period in the prior year, the firm earned $0.59 earnings per share. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. Equities analysts expect that Edwards Lifesciences Co. will post 2.56 earnings per share for the current 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.