Edwards Lifesciences Corp (EW) Position Reduced by Frontier Capital Management Co. LLC

Frontier Capital Management Co. LLC cut its holdings in shares of Edwards Lifesciences Corp (NYSE:EW) by 3.2% in the first quarter, Holdings Channel reports. The institutional investor owned 716,208 shares of the medical research company’s stock after selling 23,941 shares during the quarter. Edwards Lifesciences comprises 1.0% of Frontier Capital Management Co. LLC’s portfolio, making the stock its 14th biggest position. Frontier Capital Management Co. LLC’s holdings in Edwards Lifesciences were worth $137,032,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of EW. Oregon Public Employees Retirement Fund increased its holdings in shares of Edwards Lifesciences by 21,360.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 10,636,891 shares of the medical research company’s stock valued at $69,000 after purchasing an additional 10,587,326 shares in the last quarter. Norges Bank purchased a new position in shares of Edwards Lifesciences during the 4th quarter valued at approximately $559,646,000. Jennison Associates LLC increased its holdings in shares of Edwards Lifesciences by 184.7% during the 4th quarter. Jennison Associates LLC now owns 4,112,133 shares of the medical research company’s stock valued at $629,855,000 after purchasing an additional 2,667,749 shares in the last quarter. FMR LLC increased its holdings in Edwards Lifesciences by 28.9% in the 4th quarter. FMR LLC now owns 7,576,820 shares of the medical research company’s stock worth $1,160,540,000 after acquiring an additional 1,700,199 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in Edwards Lifesciences by 7.4% in the 4th quarter. BlackRock Inc. now owns 16,431,419 shares of the medical research company’s stock worth $2,516,802,000 after acquiring an additional 1,128,082 shares in the last quarter. 84.43% of the stock is owned by institutional investors.

Shares of EW stock traded up $1.10 on Thursday, hitting $178.35. 10,416 shares of the stock traded hands, compared to its average volume of 1,292,514. The company has a current ratio of 3.66, a quick ratio of 2.69 and a debt-to-equity ratio of 0.17. The stock has a market cap of $37.20 billion, a price-to-earnings ratio of 37.92, a PEG ratio of 2.28 and a beta of 0.85. Edwards Lifesciences Corp has a twelve month low of $134.38 and a twelve month high of $197.86.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Tuesday, April 23rd. The medical research company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.09. The firm had revenue of $993.00 million for the quarter, compared to analysts’ expectations of $989.87 million. Edwards Lifesciences had a net margin of 20.03% and a return on equity of 31.16%. The company’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.22 EPS. As a group, equities research analysts predict that Edwards Lifesciences Corp will post 5.28 EPS for the current year.

Several equities research analysts recently commented on the stock. Morgan Stanley boosted their price target on shares of Edwards Lifesciences from $180.00 to $197.00 and gave the stock an “overweight” rating in a report on Monday, March 18th. BMO Capital Markets lifted their target price on shares of Edwards Lifesciences to $204.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Credit Suisse Group lifted their target price on shares of Edwards Lifesciences from $189.00 to $221.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Barclays lifted their target price on shares of Edwards Lifesciences from $150.00 to $160.00 and gave the stock an “underweight” rating in a research note on Monday, March 25th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Edwards Lifesciences from $175.00 to $190.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 27th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the stock. Edwards Lifesciences presently has an average rating of “Buy” and a consensus price target of $187.00.

In other Edwards Lifesciences news, VP Catherine M. Szyman sold 1,474 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $192.00, for a total value of $283,008.00. Following the transaction, the vice president now owns 21,132 shares of the company’s stock, valued at $4,057,344. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Larry L. Wood sold 6,716 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $192.34, for a total transaction of $1,291,755.44. Following the completion of the transaction, the vice president now directly owns 122,495 shares in the company, valued at approximately $23,560,688.30. The disclosure for this sale can be found here. Insiders sold 148,411 shares of company stock worth $26,189,586 in the last ninety days. 1.63% of the stock is currently owned by corporate insiders.

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About Edwards Lifesciences

Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States and internationally. It offers transcatheter heart valve therapy products comprising transcatheter aortic valve replacement, and transcatheter mitral and tricuspid therapies for the nonsurgical replacement of heart valves.

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

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