Meyer Handelman Co. Has $3.74 Million Position in Edwards Lifesciences Co. (NYSE:EW)

Meyer Handelman Co. raised its stake in Edwards Lifesciences Co. (NYSE:EW) by 11.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 39,108 shares of the medical research company’s stock after buying an additional 3,972 shares during the quarter. Meyer Handelman Co.’s holdings in Edwards Lifesciences were worth $3,737,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Edwards Lifesciences in the fourth quarter worth approximately $648,540,000. Brown Advisory Inc. raised its holdings in shares of Edwards Lifesciences by 20.1% during the 4th quarter. Brown Advisory Inc. now owns 18,181,420 shares of the medical research company’s stock valued at $1,386,333,000 after purchasing an additional 3,048,274 shares in the last quarter. CIBC Private Wealth Group LLC boosted its holdings in Edwards Lifesciences by 197.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 3,446,758 shares of the medical research company’s stock worth $262,815,000 after purchasing an additional 2,286,119 shares in the last quarter. AustralianSuper Pty Ltd acquired a new position in Edwards Lifesciences during the fourth quarter worth $168,519,000. Finally, Sands Capital Management LLC raised its holdings in Edwards Lifesciences by 34.6% during the fourth quarter. Sands Capital Management LLC now owns 6,103,702 shares of the medical research company’s stock valued at $465,407,000 after buying an additional 1,567,526 shares in the last quarter. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on EW shares. Mizuho upped their price target on Edwards Lifesciences from $95.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Bank of America upgraded shares of Edwards Lifesciences from a “neutral” rating to a “buy” rating in a report on Thursday, March 7th. Citigroup upgraded shares of Edwards Lifesciences from a “neutral” rating to a “buy” rating and upped their price target for the company from $98.00 to $105.00 in a report on Wednesday, May 22nd. Stifel Nicolaus raised their price target on Edwards Lifesciences from $83.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, April 26th. Finally, StockNews.com cut Edwards Lifesciences from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.06.

Insider Transactions at Edwards Lifesciences

In related news, CFO Scott B. Ullem sold 7,255 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $94.89, for a total value of $688,426.95. Following the sale, the chief financial officer now directly owns 19,074 shares in the company, valued at approximately $1,809,931.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Bernard J. Zovighian acquired 580 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were acquired at an average cost of $85.74 per share, for a total transaction of $49,729.20. Following the completion of the acquisition, the chief executive officer now directly owns 3,268 shares in the company, valued at approximately $280,198.32. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Scott B. Ullem sold 7,255 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $94.89, for a total value of $688,426.95. Following the completion of the sale, the chief financial officer now owns 19,074 shares in the company, valued at $1,809,931.86. The disclosure for this sale can be found here. In the last ninety days, insiders sold 127,104 shares of company stock worth $11,267,464. 1.29% of the stock is currently owned by company insiders.

Edwards Lifesciences Stock Up 2.3 %

Shares of EW opened at $90.90 on Friday. The company has a quick ratio of 2.67, a current ratio of 3.75 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average price of $87.46 and a two-hundred day moving average price of $84.54. The stock has a market cap of $54.78 billion, a price-to-earnings ratio of 39.18, a P/E/G ratio of 3.25 and a beta of 1.11. Edwards Lifesciences Co. has a 12 month low of $60.57 and a 12 month high of $96.12.

Edwards Lifesciences (NYSE:EW) last posted its earnings results on Thursday, April 25th. The medical research company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.64 by $0.02. Edwards Lifesciences had a return on equity of 22.86% and a net margin of 23.01%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.58 billion. Equities analysts predict that Edwards Lifesciences Co. will post 2.77 EPS for the current fiscal 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.