Oppenheimer & Co. Inc. Buys 10,492 Shares of Edwards Lifesciences Co. (NYSE:EW)

Oppenheimer & Co. Inc. grew its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 40.0% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 36,745 shares of the medical research company’s stock after acquiring an additional 10,492 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Edwards Lifesciences were worth $3,394,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of EW. Vanguard Group Inc. raised its holdings in shares of Edwards Lifesciences by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 52,964,394 shares of the medical research company’s stock worth $5,061,277,000 after buying an additional 600,994 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Edwards Lifesciences by 4.3% during the 2nd 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. Wellington Management Group LLP raised its holdings in shares of Edwards Lifesciences by 2.4% during the 4th quarter. Wellington Management Group LLP now owns 16,827,510 shares of the medical research company’s stock worth $1,283,098,000 after buying an additional 393,109 shares in the last quarter. Norges Bank acquired a new position in shares of Edwards Lifesciences during the 4th quarter worth $648,540,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Edwards Lifesciences by 57.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,516,260 shares of the medical research company’s stock worth $622,695,000 after buying an additional 2,390,137 shares in the last quarter. 79.46% of the stock is currently owned by institutional investors.

Edwards Lifesciences Stock Up 0.6 %

Shares of Edwards Lifesciences stock opened at $68.52 on Monday. The stock’s 50-day moving average is $72.39 and its 200 day moving average is $83.45. The firm has a market cap of $41.28 billion, a price-to-earnings ratio of 29.53, a PEG ratio of 2.85 and a beta of 1.13. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.71 and a quick ratio of 2.87. Edwards Lifesciences Co. has a one year low of $58.93 and a one year high of $96.12.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.65 billion. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The company’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.66 earnings per share. Equities research analysts anticipate that Edwards Lifesciences Co. will post 2.7 EPS for the current year.

Analysts Set New Price Targets

EW has been the subject of a number of research analyst reports. Daiwa Capital Markets raised Edwards Lifesciences from a “neutral” rating to an “outperform” rating in a report on Wednesday, July 31st. Citigroup upped their target price on Edwards Lifesciences from $105.00 to $106.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Wells Fargo & Company lowered their target price on Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Monday, September 9th. Canaccord Genuity Group lowered their target price on Edwards Lifesciences from $85.00 to $77.00 and set a “hold” rating for the company in a report on Thursday, July 25th. Finally, The Goldman Sachs Group lowered their target price on Edwards Lifesciences from $107.00 to $91.00 and set a “buy” rating for the company in a report on Friday, July 26th. Fifteen analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $80.29.

Insiders Place Their Bets

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $93.29, for a total value of $466,450.00. Following the transaction, the vice president now owns 46,936 shares in the company, valued at $4,378,659.44. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $93.29, for a total value of $466,450.00. Following the completion of the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at $4,378,659.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Daveen Chopra sold 1,250 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total value of $87,437.50. Following the completion of the sale, the vice president now directly owns 29,333 shares of the company’s stock, valued at $2,051,843.35. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,250 shares of company stock worth $1,218,138. Corporate insiders own 1.29% of the company’s stock.

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.