Eastern Bank Makes New $98,000 Investment in Edwards Lifesciences Co. (NYSE:EW)

Eastern Bank acquired a new position in shares of Edwards Lifesciences Co. (NYSE:EW) in the third quarter, HoldingsChannel.com reports. The fund acquired 1,481 shares of the medical research company’s stock, valued at approximately $98,000.

Other large investors also recently bought and sold shares of the company. Crewe Advisors LLC purchased a new position in Edwards Lifesciences during the 1st quarter worth $28,000. First Community Trust NA purchased a new position in Edwards Lifesciences during the 2nd quarter worth $29,000. Webster Bank N. A. purchased a new position in Edwards Lifesciences during the 2nd quarter worth $39,000. Peoples Bank KS purchased a new position in Edwards Lifesciences during the 3rd quarter worth $40,000. Finally, Versant Capital Management Inc grew its stake in shares of Edwards Lifesciences by 206.3% during the 2nd quarter. Versant Capital Management Inc now owns 484 shares of the medical research company’s stock worth $45,000 after purchasing an additional 326 shares during the period. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Insider Buying and Selling

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total value of $330,400.00. Following the completion of the sale, the vice president now owns 46,936 shares of the company’s stock, valued at $3,101,530.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total value of $330,400.00. Following the completion of the sale, the vice president now owns 46,936 shares of the company’s stock, valued at $3,101,530.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Daveen Chopra sold 1,250 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total transaction of $87,437.50. Following the completion of the sale, the vice president now directly owns 29,333 shares of the company’s stock, valued at $2,051,843.35. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,250 shares of company stock valued at $1,099,238 over the last 90 days. 1.29% of the stock is currently owned by company insiders.

Edwards Lifesciences Stock Down 1.4 %

Edwards Lifesciences stock opened at $69.38 on Friday. The company has a 50-day simple moving average of $68.08 and a 200-day simple moving average of $78.65. The firm has a market capitalization of $41.81 billion, a P/E ratio of 29.91, a P/E/G ratio of 2.83 and a beta of 1.13. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.87 and a current ratio of 3.71. Edwards Lifesciences Co. has a one year low of $58.93 and a one year high of $96.12.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data on Thursday, October 24th. The medical research company reported $0.67 earnings per share for the quarter, hitting the consensus estimate of $0.67. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.57 billion. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.59 earnings per share. As a group, equities analysts expect that Edwards Lifesciences Co. will post 2.71 earnings per share for the current year.

Wall Street Analysts Forecast Growth

EW has been the topic of a number of recent analyst reports. Stifel Nicolaus lowered their price target on shares of Edwards Lifesciences from $85.00 to $70.00 and set a “hold” rating on the stock in a research note on Thursday, July 25th. Bank of America cut shares of Edwards Lifesciences from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $105.00 to $75.00 in a research note on Thursday, July 25th. TD Cowen cut shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and lowered their price target for the stock from $100.00 to $70.00 in a research note on Thursday, July 25th. Daiwa America raised shares of Edwards Lifesciences to a “strong-buy” rating in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada lowered their price target on shares of Edwards Lifesciences from $85.00 to $75.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 8th. Fifteen research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $75.67.

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.