Factory Mutual Insurance Co. raised its stake in Edwards Lifesciences Corp (NYSE:EW) by 10.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 211,300 shares of the medical research company’s stock after buying an additional 20,000 shares during the period. Factory Mutual Insurance Co.’s holdings in Edwards Lifesciences were worth $23,815,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. ETF Managers Group LLC acquired a new stake in Edwards Lifesciences in the second quarter valued at approximately $112,000. MPS Loria Financial Planners LLC acquired a new stake in Edwards Lifesciences in the second quarter valued at approximately $140,000. Dupont Capital Management Corp acquired a new stake in Edwards Lifesciences in the third quarter valued at approximately $142,000. Salem Investment Counselors Inc. boosted its position in Edwards Lifesciences by 16.3% in the second quarter. Salem Investment Counselors Inc. now owns 1,419 shares of the medical research company’s stock valued at $168,000 after buying an additional 199 shares in the last quarter. Finally, Sun Life Financial INC boosted its position in Edwards Lifesciences by 13,827.3% in the second quarter. Sun Life Financial INC now owns 1,532 shares of the medical research company’s stock valued at $181,000 after buying an additional 1,521 shares in the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

In other Edwards Lifesciences news, CEO Michael A. Mussallem sold 32,900 shares of Edwards Lifesciences stock in a transaction on Monday, October 30th. The shares were sold at an average price of $100.93, for a total value of $3,320,597.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,300 shares of Edwards Lifesciences stock in a transaction on Monday, October 30th. The shares were sold at an average price of $101.12, for a total transaction of $535,936.00. The disclosure for this sale can be found here. Insiders have sold 191,520 shares of company stock valued at $20,998,608 in the last three months. 2.13% of the stock is owned by insiders.

Shares of Edwards Lifesciences Corp (NYSE EW) traded up $0.84 during midday trading on Tuesday, reaching $120.83. 1,029,800 shares of the company were exchanged, compared to its average volume of 1,247,700. Edwards Lifesciences Corp has a fifty-two week low of $86.55 and a fifty-two week high of $121.45. The company has a market capitalization of $25,810.00, a P/E ratio of 35.13, a PEG ratio of 1.94 and a beta of 0.51. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.49 and a quick ratio of 2.76.

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

Edwards Lifesciences announced that its board has authorized a stock repurchase plan on Thursday, December 7th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the medical research company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

A number of equities analysts have recently commented on the stock. Morgan Stanley cut their price target on shares of Edwards Lifesciences from $133.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, October 26th. JPMorgan Chase & Co. lowered shares of Edwards Lifesciences from an “overweight” rating to a “neutral” rating in a report on Tuesday, January 2nd. Canaccord Genuity reiterated a “buy” rating and set a $155.00 price target on shares of Edwards Lifesciences in a report on Sunday, October 8th. Barclays reiterated an “equal weight” rating and set a $120.00 price target on shares of Edwards Lifesciences in a report on Saturday, September 30th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $137.00 price target on shares of Edwards Lifesciences in a report on Friday, December 8th. Six investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $129.57.

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Edwards Lifesciences Profile

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.

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

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