Murphy Capital Management Inc. Lowers Position in Edwards Lifesciences Corp (NYSE:EW)

Murphy Capital Management Inc. decreased its holdings in shares of Edwards Lifesciences Corp (NYSE:EW) by 4.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,535 shares of the medical research company’s stock after selling 169 shares during the period. Murphy Capital Management Inc.’s holdings in Edwards Lifesciences were worth $676,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Pinnacle Bank bought a new position in shares of Edwards Lifesciences in the 4th quarter worth approximately $65,000. Mackay Shields LLC increased its position in Edwards Lifesciences by 58.8% during the 4th quarter. Mackay Shields LLC now owns 53,020 shares of the medical research company’s stock valued at $8,121,000 after buying an additional 19,624 shares in the last quarter. Gateway Investment Advisers LLC increased its position in Edwards Lifesciences by 1,161.8% during the 4th quarter. Gateway Investment Advisers LLC now owns 121,640 shares of the medical research company’s stock valued at $18,632,000 after buying an additional 112,000 shares in the last quarter. Cetera Advisor Networks LLC increased its position in 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 buying an additional 57 shares in the last quarter. Finally, National Pension Service increased its position in Edwards Lifesciences by 5.4% during the 4th quarter. National Pension Service now owns 226,191 shares of the medical research company’s stock valued at $39,837,000 after buying an additional 11,615 shares in the last quarter. 84.92% of the stock is owned by institutional investors and hedge funds.

In other news, VP Robert W.A. Sellers sold 821 shares of Edwards Lifesciences stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $175.36, for a total value of $143,970.56. Following the sale, the vice president now directly owns 14,176 shares of the company’s stock, valued at $2,485,903.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Larry L. Wood sold 6,716 shares of Edwards Lifesciences stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $192.34, for a total value of $1,291,755.44. Following the completion of the sale, the vice president now directly owns 122,495 shares in the company, valued at $23,560,688.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 154,665 shares of company stock worth $27,180,718. Insiders own 1.63% of the company’s stock.

NYSE:EW traded up $2.85 on Friday, reaching $181.51. 886,773 shares of the company’s stock traded hands, compared to its average volume of 1,321,546. The company has a quick ratio of 2.69, a current ratio of 3.66 and a debt-to-equity ratio of 0.17. The stock has a market cap of $37.85 billion, a PE ratio of 38.62, a P/E/G ratio of 2.25 and a beta of 0.85. Edwards Lifesciences Corp has a 12 month low of $131.11 and a 12 month high of $197.86.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Tuesday, April 23rd. The medical research company reported $1.32 EPS for the quarter, beating the Zacks’ consensus estimate of $1.23 by $0.09. The business had revenue of $993.00 million for the quarter, compared to analysts’ expectations of $989.87 million. Edwards Lifesciences had a return on equity of 31.16% and a net margin of 20.03%. The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the firm earned $1.22 earnings per share. Sell-side analysts anticipate that Edwards Lifesciences Corp will post 5.28 earnings per share for the current fiscal year.

EW has been the subject of a number of analyst reports. Cowen reaffirmed a “buy” rating on shares of Edwards Lifesciences in a research report on Monday, February 4th. Stifel Nicolaus reaffirmed a “buy” rating and set a $190.00 price objective on shares of Edwards Lifesciences in a research report on Sunday, February 3rd. Bank of America raised Edwards Lifesciences from a “neutral” rating to a “buy” rating and raised their price objective for the company from $180.00 to $190.00 in a research report on Friday, January 18th. Canaccord Genuity reaffirmed a “buy” rating and set a $215.00 price objective (up previously from $190.00) on shares of Edwards Lifesciences in a research report on Monday, March 18th. Finally, Jefferies Financial Group raised their price objective on Edwards Lifesciences from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $187.19.

ILLEGAL ACTIVITY WARNING: “Murphy Capital Management Inc. Lowers Position in Edwards Lifesciences Corp (NYSE:EW)” was originally posted by Baseball Daily News and is the property of of Baseball Daily News. If you are reading this report on another site, it was stolen and republished in violation of United States & international copyright legislation. The legal version of this report can be viewed at https://www.baseballdailydigest.com/news/2019/05/04/edwards-lifesciences-corp-ew-stake-decreased-by-murphy-capital-management-inc.html.

Edwards Lifesciences Company 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.

Further Reading: What are retained earnings?

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

Receive News & Ratings for Edwards Lifesciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edwards Lifesciences and related companies with MarketBeat.com's FREE daily email newsletter.