First Allied Advisory Services Inc. cut its holdings in shares of Edwards Lifesciences Corporation (NYSE:EW) by 29.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,751 shares of the medical research company’s stock after selling 1,956 shares during the quarter. First Allied Advisory Services Inc.’s holdings in Edwards Lifesciences were worth $519,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wetherby Asset Management Inc. purchased a new stake in shares of Edwards Lifesciences during the 2nd quarter worth about $206,000. Schwab Charles Investment Management Inc. raised its stake in shares of Edwards Lifesciences by 3.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 658,588 shares of the medical research company’s stock worth $77,872,000 after purchasing an additional 19,490 shares in the last quarter. Sigma Planning Corp purchased a new stake in shares of Edwards Lifesciences during the 2nd quarter worth about $217,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Edwards Lifesciences by 40.1% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 177,188 shares of the medical research company’s stock worth $20,951,000 after purchasing an additional 50,752 shares in the last quarter. Finally, LMR Partners LLP purchased a new stake in shares of Edwards Lifesciences during the 2nd quarter worth about $1,822,000. Hedge funds and other institutional investors own 81.82% of the company’s stock.

In other news, Director Schack Wesley W. Von sold 1,000 shares of Edwards Lifesciences stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $104.15, for a total transaction of $104,150.00. Following the sale, the director now owns 2,622 shares of the company’s stock, valued at approximately $273,081.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,300 shares of Edwards Lifesciences stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $108.86, for a total value of $576,958.00. The disclosure for this sale can be found here. Insiders have sold a total of 139,580 shares of company stock worth $14,849,205 in the last three months. 2.13% of the stock is owned by insiders.

EW has been the subject of a number of recent research reports. BidaskClub downgraded Edwards Lifesciences from a “buy” rating to a “hold” rating in a research note on Friday, August 25th. William Blair reissued an “outperform” rating on shares of Edwards Lifesciences in a research note on Monday, August 28th. BMO Capital Markets reissued a “buy” rating and issued a $132.00 price objective on shares of Edwards Lifesciences in a research note on Friday, September 1st. Royal Bank of Canada reissued a “buy” rating and issued a $130.00 price objective on shares of Edwards Lifesciences in a research note on Friday, September 1st. Finally, Zacks Investment Research downgraded Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $126.43.

Edwards Lifesciences Corporation (EW) opened at $115.57 on Wednesday. The company has a quick ratio of 2.76, a current ratio of 3.49 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $25,009.24, a P/E ratio of 32.74, a price-to-earnings-growth ratio of 2.11 and a beta of 0.51. Edwards Lifesciences Corporation has a 1 year low of $86.55 and a 1 year high of $121.45.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Tuesday, October 24th. The medical research company reported $0.84 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.02). The business had revenue of $821.50 million during the quarter, compared to the consensus estimate of $833.85 million. Edwards Lifesciences had a return on equity of 27.22% and a net margin of 22.47%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.68 earnings per share. equities analysts anticipate that Edwards Lifesciences Corporation will post 3.76 earnings per share for the current year.

Edwards Lifesciences announced that its Board of Directors has authorized a stock buyback program on Thursday, December 7th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the medical research company to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

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About Edwards Lifesciences

Edwards Lifesciences Corporation is a manufacturer of heart valve systems and repair products used to replace or repair a patient’s diseased or defective heart valve. The Company is engaged in patient-focused innovations for structural heart disease and critical care monitoring. Its segments include United States, Europe, Japan and Rest of World.

Institutional Ownership by Quarter for Edwards Lifesciences (NYSE:EW)

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