Edwards Lifesciences Corp. (EW) Stake Reduced by Johnston Asset Management LLC
Johnston Asset Management LLC lowered its position in Edwards Lifesciences Corp. (NYSE:EW) by 2.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 360,342 shares of the medical research company’s stock after selling 7,870 shares during the period. Edwards Lifesciences Corp. makes up about 1.8% of Johnston Asset Management LLC’s investment portfolio, making the stock its 12th largest position. Johnston Asset Management LLC owned 0.17% of Edwards Lifesciences Corp. worth $35,937,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in EW. American Century Companies Inc. boosted its stake in Edwards Lifesciences Corp. by 83.1% in the second quarter. American Century Companies Inc. now owns 1,423,750 shares of the medical research company’s stock valued at $141,991,000 after buying an additional 646,142 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Edwards Lifesciences Corp. by 50.7% in the first quarter. Renaissance Technologies LLC now owns 1,665,800 shares of the medical research company’s stock valued at $146,940,000 after buying an additional 560,700 shares in the last quarter. Capital Fund Management S.A. boosted its stake in Edwards Lifesciences Corp. by 10,543.8% in the second quarter. Capital Fund Management S.A. now owns 473,012 shares of the medical research company’s stock valued at $47,173,000 after buying an additional 468,568 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Edwards Lifesciences Corp. by 12.8% in the first quarter. Franklin Resources Inc. now owns 3,163,498 shares of the medical research company’s stock worth $279,058,000 after buying an additional 358,872 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. purchased a new position in shares of Edwards Lifesciences Corp. during the first quarter worth approximately $28,230,000. 84.09% of the stock is owned by hedge funds and other institutional investors.
Shares of Edwards Lifesciences Corp. (NYSE:EW) traded down 0.71% during midday trading on Monday, reaching $119.71. The company had a trading volume of 1,054,351 shares. The stock’s 50 day moving average is $116.63 and its 200-day moving average is $106.00. Edwards Lifesciences Corp. has a 12-month low of $70.62 and a 12-month high of $121.73. The stock has a market capitalization of $25.48 billion, a PE ratio of 49.47 and a beta of 0.56.
Edwards Lifesciences Corp. (NYSE:EW) last announced its quarterly earnings results on Tuesday, July 26th. The medical research company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.06. The business had revenue of $759.30 million for the quarter, compared to analyst estimates of $724.26 million. Edwards Lifesciences Corp. had a return on equity of 23.72% and a net margin of 19.26%. The company’s quarterly revenue was up 23.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.57 earnings per share. On average, equities research analysts predict that Edwards Lifesciences Corp. will post $2.88 earnings per share for the current fiscal year.
EW has been the subject of a number of recent research reports. Zacks Investment Research lowered Edwards Lifesciences Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 12th. Canaccord Genuity upped their target price on Edwards Lifesciences Corp. from $132.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, July 27th. Guggenheim initiated coverage on Edwards Lifesciences Corp. in a research note on Wednesday, June 8th. They issued a “neutral” rating for the company. Evercore ISI restated a “hold” rating and issued a $115.00 target price on shares of Edwards Lifesciences Corp. in a research note on Friday, August 19th. Finally, BMO Capital Markets restated a “buy” rating and issued a $120.00 target price on shares of Edwards Lifesciences Corp. in a research note on Wednesday, July 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have issued a buy rating to the company. Edwards Lifesciences Corp. currently has an average rating of “Buy” and a consensus target price of $118.13.
In other news, VP Huimin Wang sold 13,650 shares of the stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $98.44, for a total value of $1,343,706.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael A. Mussallem sold 49,100 shares of the stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $113.31, for a total value of $5,563,521.00. The disclosure for this sale can be found here. 2.37% of the stock is owned by company 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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