Peapack Gladstone Financial Corp Buys 10,232 Shares of Edwards Lifesciences Co. (NYSE:EW)

Peapack Gladstone Financial Corp raised its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 11.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 100,438 shares of the medical research company’s stock after purchasing an additional 10,232 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Edwards Lifesciences were worth $7,658,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in EW. Norges Bank bought a new position in shares of Edwards Lifesciences in the fourth quarter worth approximately $648,540,000. Brown Advisory Inc. increased its holdings in Edwards Lifesciences by 20.1% in the 4th quarter. Brown Advisory Inc. now owns 18,181,420 shares of the medical research company’s stock worth $1,386,333,000 after buying an additional 3,048,274 shares in the last quarter. AustralianSuper Pty Ltd bought a new stake in Edwards Lifesciences in the 4th quarter worth about $168,519,000. Sands Capital Management LLC increased its holdings in Edwards Lifesciences by 34.6% in the 4th quarter. Sands Capital Management LLC now owns 6,103,702 shares of the medical research company’s stock worth $465,407,000 after buying an additional 1,567,526 shares in the last quarter. Finally, Nordea Investment Management AB grew its stake in shares of Edwards Lifesciences by 1,224.1% during the 4th quarter. Nordea Investment Management AB now owns 1,610,412 shares of the medical research company’s stock valued at $123,261,000 after purchasing an additional 1,488,791 shares during the period. 79.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Edwards Lifesciences

In related news, CFO Scott B. Ullem sold 7,255 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $94.89, for a total value of $688,426.95. Following the completion of the sale, the chief financial officer now owns 19,074 shares in the company, valued at $1,809,931.86. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Bernard J. Zovighian sold 8,617 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $87.68, for a total transaction of $755,538.56. Following the sale, the chief executive officer now directly owns 68,218 shares of the company’s stock, valued at $5,981,354.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Scott B. Ullem sold 7,255 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $94.89, for a total transaction of $688,426.95. Following the completion of the transaction, the chief financial officer now directly owns 19,074 shares in the company, valued at $1,809,931.86. The disclosure for this sale can be found here. Insiders sold 152,719 shares of company stock worth $13,625,632 over the last ninety days. Company insiders own 1.27% of the company’s stock.

Edwards Lifesciences Price Performance

Shares of NYSE EW traded down $0.45 during trading on Tuesday, hitting $87.41. The company had a trading volume of 1,812,704 shares, compared to its average volume of 3,502,338. The company has a market cap of $52.67 billion, a P/E ratio of 37.66, a PEG ratio of 3.18 and a beta of 1.11. Edwards Lifesciences Co. has a 52 week low of $60.57 and a 52 week high of $96.12. The business’s 50-day moving average is $88.94 and its 200 day moving average is $82.66. 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 earnings results 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 net margin of 23.01% and a return on equity of 22.86%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.58 billion. Equities research analysts predict that Edwards Lifesciences Co. will post 2.77 earnings per share for the current fiscal year.

Analysts Set New Price Targets

EW has been the subject of a number of recent research reports. Royal Bank of Canada boosted their price objective on Edwards Lifesciences from $95.00 to $101.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Deutsche Bank Aktiengesellschaft raised Edwards Lifesciences from a “hold” rating to a “buy” rating and upped their price objective for the stock from $86.00 to $103.00 in a report on Tuesday, May 14th. Bank of America raised Edwards Lifesciences from a “neutral” rating to a “buy” rating in a research report on Thursday, March 7th. The Goldman Sachs Group began coverage on Edwards Lifesciences in a research report on Thursday, May 30th. They issued a “buy” rating and a $107.00 price objective on the stock. Finally, Mizuho upped their price objective on Edwards Lifesciences from $95.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Edwards Lifesciences has an average rating of “Moderate Buy” and a consensus target price of $95.06.

About Edwards Lifesciences

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.