Corundum Group Inc. Cuts Stock Position in Edwards Lifesciences Co. (NYSE:EW)

Corundum Group Inc. lowered its stake in Edwards Lifesciences Co. (NYSE:EW) by 12.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 2,328 shares of the medical research company’s stock after selling 343 shares during the quarter. Corundum Group Inc.’s holdings in Edwards Lifesciences were worth $222,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. LPL Financial LLC increased its position in shares of Edwards Lifesciences by 2.4% during the third quarter. LPL Financial LLC now owns 302,141 shares of the medical research company’s stock worth $20,932,000 after purchasing an additional 6,980 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its holdings in Edwards Lifesciences by 29.8% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 4,782 shares of the medical research company’s stock valued at $331,000 after acquiring an additional 1,099 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its stake in Edwards Lifesciences by 3.3% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 12,157 shares of the medical research company’s stock worth $842,000 after purchasing an additional 390 shares in the last quarter. Operose Advisors LLC boosted its holdings in shares of Edwards Lifesciences by 247.0% during the 3rd quarter. Operose Advisors LLC now owns 635 shares of the medical research company’s stock worth $44,000 after purchasing an additional 452 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC grew its position in shares of Edwards Lifesciences by 16.2% in the third quarter. O Shaughnessy Asset Management LLC now owns 23,426 shares of the medical research company’s stock valued at $1,623,000 after purchasing an additional 3,264 shares in the last quarter. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Analyst Upgrades and Downgrades

EW has been the topic of a number of recent research reports. Oppenheimer boosted their price objective on Edwards Lifesciences from $93.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, March 18th. Bank of America upgraded shares of Edwards Lifesciences from a “neutral” rating to a “buy” rating in a research report on Thursday, March 7th. Mizuho increased their price target on shares of Edwards Lifesciences from $95.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Evercore ISI cut their price target on shares of Edwards Lifesciences from $92.00 to $89.00 and set an “in-line” rating for the company in a report on Friday, April 26th. Finally, Deutsche Bank Aktiengesellschaft upgraded Edwards Lifesciences from a “hold” rating to a “buy” rating and upped their price objective for the company from $86.00 to $103.00 in a report on Tuesday, May 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.06.

Insider Activity

In related news, CEO Bernard J. Zovighian acquired 580 shares of Edwards Lifesciences stock in a transaction dated Monday, May 6th. The stock was acquired at an average price of $85.74 per share, for a total transaction of $49,729.20. Following the transaction, the chief executive officer now owns 3,268 shares of the company’s stock, valued at $280,198.32. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Bernard J. Zovighian acquired 580 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was acquired at an average cost of $85.74 per share, with a total value of $49,729.20. Following the completion of the acquisition, the chief executive officer now owns 3,268 shares of the company’s stock, valued at $280,198.32. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael A. Mussallem sold 29,350 shares of the stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $92.42, for a total transaction of $2,712,527.00. Following the sale, the director now owns 4,486 shares of the company’s stock, valued at approximately $414,596.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 127,104 shares of company stock worth $11,267,464. 1.29% of the stock is currently owned by corporate insiders.

Edwards Lifesciences Stock Up 1.4 %

Shares of Edwards Lifesciences stock traded up $1.32 during trading hours on Thursday, reaching $92.88. 160,713 shares of the company were exchanged, compared to its average volume of 3,380,838. The firm has a market cap of $55.97 billion, a PE ratio of 39.47, a PEG ratio of 3.33 and a beta of 1.11. The stock’s fifty day moving average is $87.50 and its 200 day moving average is $84.95. Edwards Lifesciences Co. has a 1 year low of $60.57 and a 1 year high of $96.12. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.67 and a current ratio of 3.75.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Thursday, April 25th. The medical research company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.02. Edwards Lifesciences had a return on equity of 22.86% and a net margin of 23.01%. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.58 billion. As a group, equities research analysts forecast that Edwards Lifesciences Co. will post 2.77 earnings per share for the current year.

Edwards Lifesciences 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.