Maryland Capital Management Increases Holdings in Edwards Lifesciences Corp (NYSE:EW)

Maryland Capital Management lifted its stake in shares of Edwards Lifesciences Corp (NYSE:EW) by 283.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 60,065 shares of the medical research company’s stock after acquiring an additional 44,393 shares during the quarter. Edwards Lifesciences makes up approximately 1.4% of Maryland Capital Management’s holdings, making the stock its 25th biggest position. Maryland Capital Management’s holdings in Edwards Lifesciences were worth $11,492,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Capital Insight Partners LLC boosted its position in shares of Edwards Lifesciences by 0.5% during the 1st quarter. Capital Insight Partners LLC now owns 11,010 shares of the medical research company’s stock valued at $2,107,000 after acquiring an additional 53 shares during the last quarter. Cetera Advisor Networks LLC boosted its position in shares of Edwards Lifesciences by 3.8% during the 4th quarter. Cetera Advisor Networks LLC now owns 1,573 shares of the medical research company’s stock valued at $242,000 after acquiring an additional 57 shares during the last quarter. Kentucky Retirement Systems boosted its position in shares of Edwards Lifesciences by 0.7% during the 4th quarter. Kentucky Retirement Systems now owns 9,093 shares of the medical research company’s stock valued at $1,393,000 after acquiring an additional 60 shares during the last quarter. BB&T Corp boosted its position in shares of Edwards Lifesciences by 2.2% during the 1st quarter. BB&T Corp now owns 2,903 shares of the medical research company’s stock valued at $556,000 after acquiring an additional 63 shares during the last quarter. Finally, Parallel Advisors LLC boosted its position in shares of Edwards Lifesciences by 11.2% during the 4th quarter. Parallel Advisors LLC now owns 684 shares of the medical research company’s stock valued at $101,000 after acquiring an additional 69 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Several analysts recently weighed in on EW shares. UBS Group increased their price target on Edwards Lifesciences from $175.00 to $180.00 and gave the company a “neutral” rating in a report on Tuesday, March 12th. Canaccord Genuity restated a “buy” rating and set a $215.00 price target (up previously from $190.00) on shares of Edwards Lifesciences in a report on Monday, March 18th. Bank of America increased their price target on Edwards Lifesciences from $190.00 to $215.00 and gave the company a “buy” rating in a report on Monday, March 18th. Wells Fargo & Co increased their price target on Edwards Lifesciences from $188.00 to $202.00 and gave the company an “outperform” rating in a report on Monday, March 18th. Finally, Morgan Stanley increased their price target on Edwards Lifesciences from $180.00 to $197.00 and gave the company an “overweight” rating in a report on Monday, March 18th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company’s stock. Edwards Lifesciences currently has an average rating of “Buy” and an average price target of $188.10.

EW stock traded down $0.69 during midday trading on Friday, reaching $184.74. The company’s stock had a trading volume of 4,254,126 shares, compared to its average volume of 1,323,864. The company has a quick ratio of 2.69, a current ratio of 3.66 and a debt-to-equity ratio of 0.19. The company’s fifty day moving average price is $179.62. Edwards Lifesciences Corp has a 1 year low of $134.53 and a 1 year high of $197.86. The stock has a market cap of $38.66 billion, a price-to-earnings ratio of 39.31, a price-to-earnings-growth ratio of 2.39 and a beta of 0.85.

Edwards Lifesciences (NYSE:EW) last released its earnings results on Tuesday, April 23rd. The medical research company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.09. The business had revenue of $993.00 million for the quarter, compared to analyst estimates of $989.87 million. Edwards Lifesciences had a return on equity of 31.16% and a net margin of 20.03%. The business’s revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.22 earnings per share. On average, equities research analysts predict that Edwards Lifesciences Corp will post 5.29 earnings per share for the current fiscal year.

In other news, VP Larry L. Wood sold 6,716 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $192.34, for a total transaction of $1,291,755.44. Following the transaction, the vice president now owns 122,495 shares in the company, valued at $23,560,688.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Huimin Wang sold 4,650 shares of the firm’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $189.31, for a total value of $880,291.50. Following the transaction, the vice president now owns 35,971 shares in the company, valued at approximately $6,809,670.01. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 140,184 shares of company stock worth $25,114,297. Insiders own 1.63% of the company’s stock.

Edwards Lifesciences Profile

Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States and internationally. It offers transcatheter heart valve therapy products comprising transcatheter aortic valve replacement, and transcatheter mitral and tricuspid therapies for the nonsurgical replacement of heart valves.

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

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