Prudential Financial Inc. Has $64,590,000 Stake in Edwards Lifesciences Corp. (EW)
Prudential Financial Inc. raised its stake in Edwards Lifesciences Corp. (NYSE:EW) by 12.7% during the third quarter, Holdings Channel reports. The fund owned 535,747 shares of the medical research company’s stock after buying an additional 60,441 shares during the period. Prudential Financial Inc.’s holdings in Edwards Lifesciences Corp. were worth $64,590,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the company. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in shares of Edwards Lifesciences Corp. during the second quarter valued at approximately $100,000. Quadrant Capital Group LLC increased its stake in shares of Edwards Lifesciences Corp. by 2.3% in the second quarter. Quadrant Capital Group LLC now owns 1,108 shares of the medical research company’s stock valued at $106,000 after buying an additional 25 shares during the last quarter. Exane Derivatives acquired a new stake in shares of Edwards Lifesciences Corp. during the second quarter valued at approximately $118,000. Spirit of America Management Corp NY acquired a new stake in shares of Edwards Lifesciences Corp. during the third quarter valued at approximately $121,000. Finally, Duncker Streett & Co. Inc. increased its stake in shares of Edwards Lifesciences Corp. by 10.5% in the second quarter. Duncker Streett & Co. Inc. now owns 1,264 shares of the medical research company’s stock valued at $126,000 after buying an additional 120 shares during the last quarter. 83.08% of the stock is currently owned by institutional investors and hedge funds.
Edwards Lifesciences Corp. (NYSE:EW) opened at 82.85 on Thursday. The firm’s 50-day moving average is $99.49 and its 200 day moving average is $106.55. The firm has a market capitalization of $17.71 billion, a P/E ratio of 32.75 and a beta of 0.71. Edwards Lifesciences Corp. has a 12 month low of $72.20 and a 12 month high of $121.75.
Edwards Lifesciences Corp. (NYSE:EW) last released its quarterly earnings data on Tuesday, October 25th. The medical research company reported $0.68 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.68. The company earned $739.40 million during the quarter, compared to the consensus estimate of $749.14 million. Edwards Lifesciences Corp. had a net margin of 19.24% and a return on equity of 24.32%. Edwards Lifesciences Corp.’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period last year, the firm earned $0.54 EPS. On average, analysts expect that Edwards Lifesciences Corp. will post $2.88 EPS for the current fiscal year.
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Several brokerages recently commented on EW. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Edwards Lifesciences Corp. in a research note on Sunday, September 11th. Credit Suisse Group AG set a $116.00 price objective on Edwards Lifesciences Corp. and gave the stock a “buy” rating in a research note on Thursday, August 18th. Royal Bank Of Canada lowered their target price on Edwards Lifesciences Corp. from $130.00 to $123.00 and set an “outperform” rating for the company in a report on Wednesday, October 26th. Morgan Stanley reiterated a “buy” rating and set a $140.00 target price on shares of Edwards Lifesciences Corp. in a report on Friday, August 19th. Finally, Evercore ISI reiterated a “hold” rating and set a $105.00 target price on shares of Edwards Lifesciences Corp. in a report on Monday. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-two have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $117.28.
In other Edwards Lifesciences Corp. news, VP Huimin Wang sold 13,650 shares of the stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $115.72, for a total value of $1,579,578.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael A. Mussallem sold 49,100 shares of the stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $84.67, for a total transaction of $4,157,297.00. The disclosure for this sale can be found here. 2.37% of the stock is currently owned by corporate insiders.
About Edwards Lifesciences Corp.
Edwards Lifesciences Corporation is focused on technologies that treat structural heart disease and critically ill patients. The Company manufactures heart valve systems and repair products used to replace or repair a patient’s diseased or defective heart valve. It develops hemodynamic monitoring systems used to measure a patient’s cardiovascular function in the hospital setting.
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