Oppenheimer & Co. Inc. Grows Stock Position in Edwards Lifesciences Co. (NYSE:EW)

Oppenheimer & Co. Inc. lifted its stake in Edwards Lifesciences Co. (NYSE:EW) by 40.0% in the second quarter, Holdings Channel.com reports. The fund owned 36,745 shares of the medical research company’s stock after purchasing an additional 10,492 shares during the period. Oppenheimer & Co. Inc.’s holdings in Edwards Lifesciences were worth $3,394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Crewe Advisors LLC bought a new position in shares of Edwards Lifesciences in the first quarter worth $28,000. First Community Trust NA bought a new position in shares of Edwards Lifesciences in the second quarter worth $29,000. Riverview Trust Co bought a new position in shares of Edwards Lifesciences in the first quarter worth $34,000. DSM Capital Partners LLC bought a new position in shares of Edwards Lifesciences in the fourth quarter worth $28,000. Finally, Webster Bank N. A. bought a new position in shares of Edwards Lifesciences in the second quarter worth $39,000. 79.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft dropped their price objective on Edwards Lifesciences from $103.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. TD Cowen lowered Edwards Lifesciences from a “buy” rating to a “hold” rating and dropped their price objective for the company from $100.00 to $70.00 in a research note on Thursday, July 25th. JPMorgan Chase & Co. lowered Edwards Lifesciences from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $105.00 to $72.00 in a research note on Thursday, July 25th. Baird R W lowered Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 25th. Finally, Wolfe Research upgraded Edwards Lifesciences from an “underperform” rating to a “peer perform” rating in a report on Monday, July 29th. Fifteen investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $80.29.

Insider Transactions at Edwards Lifesciences

In other news, VP Daveen Chopra sold 1,250 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total value of $87,437.50. Following the sale, the vice president now directly owns 29,333 shares of the company’s stock, valued at approximately $2,051,843.35. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, VP Daveen Chopra sold 1,250 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total value of $87,437.50. Following 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $66.77, for a total value of $333,850.00. Following the completion of the transaction, the vice president now directly owns 46,936 shares in the company, valued at $3,133,916.72. 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 ninety days. 1.29% of the stock is currently owned by corporate insiders.

Edwards Lifesciences Stock Performance

Edwards Lifesciences stock opened at $68.52 on Monday. 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 simple moving average is $72.39 and its two-hundred day simple moving average is $83.45. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $96.12. The stock has a market cap of $41.28 billion, a price-to-earnings ratio of 29.53, 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 EPS 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 firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the previous year, the firm posted $0.66 EPS. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, analysts expect that Edwards Lifesciences Co. will post 2.7 earnings per share for the current fiscal year.

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.