Synovus Financial Corp lifted its position in shares of Edwards Lifesciences Corp (NYSE:EW) by 4.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,966 shares of the medical research company’s stock after purchasing an additional 1,969 shares during the period. Synovus Financial Corp’s holdings in Edwards Lifesciences were worth $7,296,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the company. LFA Lugano Financial Advisors SA acquired a new stake in Edwards Lifesciences during the 3rd quarter worth $121,000. Private Capital Group LLC acquired a new stake in Edwards Lifesciences during the 2nd quarter worth $112,000. Centaurus Financial Inc. acquired a new stake in Edwards Lifesciences during the 2nd quarter worth $114,000. Signet Financial Management LLC acquired a new stake in Edwards Lifesciences during the 2nd quarter worth $136,000. Finally, Ropes Wealth Advisors LLC raised its stake in Edwards Lifesciences by 187.4% during the 2nd quarter. Ropes Wealth Advisors LLC now owns 1,006 shares of the medical research company’s stock worth $146,000 after acquiring an additional 656 shares in the last quarter. 82.63% of the stock is owned by institutional investors and hedge funds.
In other news, VP Donald E. Bobo, Jr. sold 5,500 shares of the business’s stock in a transaction dated Wednesday, October 10th. The shares were sold at an average price of $147.50, for a total transaction of $811,250.00. Following the transaction, the vice president now directly owns 25,490 shares in the company, valued at $3,759,775. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Huimin Wang sold 3,800 shares of the business’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $144.99, for a total transaction of $550,962.00. Following the transaction, the vice president now owns 88,483 shares in the company, valued at $12,829,150.17. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 153,211 shares of company stock worth $21,869,337. 1.84% of the stock is currently owned by company insiders.
Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data on Tuesday, October 23rd. The medical research company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.05. The company had revenue of $906.60 million for the quarter, compared to analyst estimates of $927.56 million. Edwards Lifesciences had a net margin of 20.67% and a return on equity of 30.11%. Edwards Lifesciences’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.84 earnings per share. Equities analysts anticipate that Edwards Lifesciences Corp will post 4.69 earnings per share for the current year.
Several brokerages recently commented on EW. Citigroup cut their price target on shares of Edwards Lifesciences from $121.00 to $118.00 and set a “sell” rating on the stock in a research note on Monday, October 29th. Zacks Investment Research lowered shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a research note on Thursday, October 25th. Barclays set a $143.00 price target on shares of Edwards Lifesciences and gave the stock a “sell” rating in a research note on Wednesday, October 24th. Morgan Stanley lifted their price target on shares of Edwards Lifesciences from $150.00 to $157.00 and gave the stock an “overweight” rating in a research note on Thursday, October 11th. Finally, Northland Securities reiterated a “hold” rating and set a $120.00 price target on shares of Edwards Lifesciences in a research note on Thursday, October 11th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $156.79.
Edwards Lifesciences Profile
Edwards Lifesciences Corporation provides products and technologies to treat structural heart disease and critically ill patients in the United States and internationally. It offers transcatheter heart valve therapy products comprising transcatheter aortic heart valves and related delivery systems for the nonsurgical replacement of heart valves.
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