Brighton Jones LLC Acquires 339 Shares of Edwards Lifesciences Co. (NYSE:EW)

Brighton Jones LLC raised its position in Edwards Lifesciences Co. (NYSE:EW) by 10.0% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 3,742 shares of the medical research company’s stock after acquiring an additional 339 shares during the period. Brighton Jones LLC’s holdings in Edwards Lifesciences were worth $346,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its position in Edwards Lifesciences by 57.9% during the first 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. CIBC Private Wealth Group LLC boosted its position in shares of Edwards Lifesciences by 197.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 3,446,758 shares of the medical research company’s stock valued at $262,815,000 after purchasing an additional 2,286,119 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Edwards Lifesciences by 9.5% during the first quarter. Bank of New York Mellon Corp now owns 18,973,304 shares of the medical research company’s stock valued at $1,813,089,000 after purchasing an additional 1,644,869 shares in the last quarter. Sands Capital Management LLC lifted its stake in shares of Edwards Lifesciences by 34.6% in the fourth quarter. Sands Capital Management LLC now owns 6,103,702 shares of the medical research company’s stock worth $465,407,000 after buying an additional 1,567,526 shares in the last quarter. Finally, CCLA Investment Management boosted its position in shares of Edwards Lifesciences by 100,739.7% during the first quarter. CCLA Investment Management now owns 1,406,714 shares of the medical research company’s stock valued at $134,092,000 after buying an additional 1,405,319 shares during the last quarter. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Price Performance

EW stock opened at $66.83 on Monday. Edwards Lifesciences Co. has a 1 year low of $58.93 and a 1 year high of $96.12. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.87 and a current ratio of 3.71. The stock’s 50 day moving average price is $69.89 and its 200 day moving average price is $82.80. The firm has a market cap of $40.27 billion, a P/E ratio of 28.81, a PEG ratio of 2.85 and a beta of 1.13.

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

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on EW. Daiwa Capital Markets upgraded shares of Edwards Lifesciences from a “neutral” rating to an “outperform” rating in a research report on Wednesday, July 31st. Evercore ISI lowered their target price on Edwards Lifesciences from $91.00 to $76.00 and set an “in-line” rating for the company in a report on Thursday, July 25th. Canaccord Genuity Group reduced their price target on Edwards Lifesciences from $85.00 to $77.00 and set a “hold” rating for the company in a research report on Thursday, July 25th. Royal Bank of Canada cut their price objective on Edwards Lifesciences from $101.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Finally, Citigroup upped their target price on Edwards Lifesciences from $105.00 to $106.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Sixteen research 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 company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $79.82.

Edwards Lifesciences Company Profile

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.