Westpac Banking Corp Lowers Holdings in Edwards Lifesciences Corp (NYSE:EW)

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Westpac Banking Corp trimmed its holdings in Edwards Lifesciences Corp (NYSE:EW) by 17.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 55,683 shares of the medical research company’s stock after selling 11,945 shares during the period. Westpac Banking Corp’s holdings in Edwards Lifesciences were worth $10,287,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in Edwards Lifesciences by 3.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 601,150 shares of the medical research company’s stock worth $92,071,000 after purchasing an additional 22,354 shares during the period. Geode Capital Management LLC grew its stake in Edwards Lifesciences by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 2,942,494 shares of the medical research company’s stock worth $449,976,000 after purchasing an additional 202,248 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in Edwards Lifesciences during the first quarter worth approximately $843,000. First Manhattan Co. grew its stake in Edwards Lifesciences by 630.3% during the first quarter. First Manhattan Co. now owns 2,337 shares of the medical research company’s stock worth $447,000 after purchasing an additional 2,017 shares during the period. Finally, Virtu Financial LLC acquired a new stake in Edwards Lifesciences during the first quarter worth approximately $296,000. 82.43% of the stock is currently owned by institutional investors.

Edwards Lifesciences stock traded up $2.19 during mid-day trading on Thursday, reaching $215.70. The stock had a trading volume of 9,652 shares, compared to its average volume of 1,186,828. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.38 and a quick ratio of 2.48. Edwards Lifesciences Corp has a fifty-two week low of $134.53 and a fifty-two week high of $219.71. The company has a 50-day simple moving average of $200.64. The stock has a market cap of $44.90 billion, a price-to-earnings ratio of 45.96, a PEG ratio of 2.72 and a beta of 0.87.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Tuesday, July 23rd. The medical research company reported $1.38 EPS for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.05. Edwards Lifesciences had a return on equity of 31.25% and a net margin of 18.29%. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the firm posted $1.24 earnings per share. The company’s revenue for the quarter was up 15.2% compared to the same quarter last year. As a group, equities research analysts expect that Edwards Lifesciences Corp will post 5.34 earnings per share for the current year.

In other Edwards Lifesciences news, Director Schack Wesley W. Von sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $217.27, for a total value of $651,810.00. Following the completion of the sale, the director now owns 1,737 shares of the company’s stock, valued at $377,397.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Catherine M. Szyman sold 1,152 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $191.70, for a total value of $220,838.40. Following the completion of the sale, the vice president now directly owns 19,162 shares of the company’s stock, valued at approximately $3,673,355.40. The disclosure for this sale can be found here. Insiders sold 142,948 shares of company stock valued at $27,936,332 in the last three months. Insiders own 1.63% of the company’s stock.

Several equities research analysts recently commented on EW shares. Jefferies Financial Group raised their target price on Edwards Lifesciences from $210.00 to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Deutsche Bank raised their target price on Edwards Lifesciences from $164.00 to $184.00 and gave the stock a “hold” rating in a research note on Wednesday, April 24th. Credit Suisse Group raised their target price on Edwards Lifesciences from $221.00 to $226.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. BMO Capital Markets raised their target price on Edwards Lifesciences from $204.00 to $224.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. raised their target price on Edwards Lifesciences from $190.00 to $225.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $204.74.

Edwards Lifesciences Company 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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