Cedar Brook Financial Partners LLC Increases Stake in Edwards Lifesciences Corp (EW)

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Cedar Brook Financial Partners LLC increased its position in shares of Edwards Lifesciences Corp (NYSE:EW) by 43.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,372 shares of the medical research company’s stock after purchasing an additional 714 shares during the period. Cedar Brook Financial Partners LLC’s holdings in Edwards Lifesciences were worth $454,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC boosted its holdings in shares of Edwards Lifesciences by 276.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,505 shares of the medical research company’s stock worth $230,000 after buying an additional 1,105 shares during the period. SignalPoint Asset Management LLC boosted its holdings in shares of Edwards Lifesciences by 5.9% during the 4th quarter. SignalPoint Asset Management LLC now owns 2,388 shares of the medical research company’s stock worth $366,000 after buying an additional 132 shares during the period. JGP Global Gestao de Recursos Ltda. bought a new stake in shares of Edwards Lifesciences during the 4th quarter worth about $338,000. Harbour Capital Advisors LLC boosted its holdings in shares of Edwards Lifesciences by 2.9% during the 4th quarter. Harbour Capital Advisors LLC now owns 11,601 shares of the medical research company’s stock worth $1,777,000 after buying an additional 328 shares during the period. Finally, Viking Fund Management LLC bought a new stake in shares of Edwards Lifesciences during the 4th quarter worth about $460,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Several analysts recently commented on EW shares. Bank of America lifted their target price on shares of Edwards Lifesciences from $190.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Jefferies Financial Group boosted their price objective on shares of Edwards Lifesciences from $195.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. JPMorgan Chase & Co. boosted their price objective on shares of Edwards Lifesciences from $175.00 to $190.00 and gave the company a “neutral” rating in a report on Wednesday, March 27th. They noted that the move was a valuation call. Morgan Stanley boosted their price objective on shares of Edwards Lifesciences from $180.00 to $197.00 and gave the company an “overweight” rating in a report on Monday, March 18th. Finally, Wells Fargo & Co boosted their price objective on shares of Edwards Lifesciences from $188.00 to $202.00 and gave the company an “outperform” rating in a report on Monday, March 18th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $187.00.

Shares of NYSE:EW opened at $172.66 on Thursday. The company has a market capitalization of $35.86 billion, a PE ratio of 36.74, a PEG ratio of 2.20 and a beta of 0.85. The company has a quick ratio of 2.69, a current ratio of 3.66 and a debt-to-equity ratio of 0.19. Edwards Lifesciences Corp has a 12 month low of $134.38 and a 12 month high of $197.86.

Edwards Lifesciences (NYSE:EW) last issued its earnings results on Tuesday, April 23rd. The medical research company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.23 by $0.09. The company had revenue of $993.00 million during 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 business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.22 EPS. As a group, research analysts expect that Edwards Lifesciences Corp will post 5.28 EPS for the current year.

In other news, VP Larry L. Wood sold 6,716 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $170.82, for a total value of $1,147,227.12. Following the completion of the transaction, the vice president now directly owns 122,366 shares in the company, valued at approximately $20,902,560.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael A. Mussallem sold 32,800 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $167.89, for a total transaction of $5,506,792.00. Following the completion of the transaction, the chief executive officer now owns 67,126 shares of the company’s stock, valued at $11,269,784.14. The disclosure for this sale can be found here. Insiders sold a total of 152,306 shares of company stock valued at $26,869,558 over the last 90 days. Corporate insiders own 1.63% of the company’s stock.

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Edwards Lifesciences Profile

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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