Cullinan Associates Inc. Has $1.33 Million Holdings in Edwards Lifesciences Co. (NYSE:EW)

Cullinan Associates Inc. increased its position in Edwards Lifesciences Co. (NYSE:EW) by 8.6% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 13,911 shares of the medical research company’s stock after purchasing an additional 1,100 shares during the quarter. Cullinan Associates Inc.’s holdings in Edwards Lifesciences were worth $1,329,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Edwards Lifesciences by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 52,363,400 shares of the medical research company’s stock worth $3,992,709,000 after acquiring an additional 729,984 shares during the last quarter. Brown Advisory Inc. lifted its position in shares of Edwards Lifesciences by 20.1% during 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. Wellington Management Group LLP grew its holdings in shares of Edwards Lifesciences by 2.4% in the fourth quarter. Wellington Management Group LLP now owns 16,827,510 shares of the medical research company’s stock valued at $1,283,098,000 after acquiring an additional 393,109 shares in the last quarter. Norges Bank bought a new stake in shares of Edwards Lifesciences during the 4th quarter worth $648,540,000. Finally, Sands Capital Management LLC grew its position in shares of Edwards Lifesciences by 34.6% during the 4th quarter. Sands Capital Management LLC now owns 6,103,702 shares of the medical research company’s stock valued at $465,407,000 after acquiring an additional 1,567,526 shares during the period. Institutional investors own 79.46% of the company’s stock.

Insider Buying and Selling

In other news, Director Michael A. Mussallem sold 29,350 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $92.42, for a total value of $2,712,527.00. Following the completion of the transaction, the director now owns 4,486 shares in the company, valued at $414,596.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Michael A. Mussallem sold 29,350 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $92.42, for a total transaction of $2,712,527.00. Following the sale, the director now directly owns 4,486 shares in the company, valued at approximately $414,596.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $87.54, for a total value of $437,700.00. Following the sale, the vice president now owns 46,936 shares of the company’s stock, valued at $4,108,777.44. The disclosure for this sale can be found here. Insiders have sold a total of 119,849 shares of company stock worth $10,579,038 in the last quarter. Corporate insiders own 1.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded Edwards Lifesciences from a “hold” rating to a “buy” rating and increased their price target for the stock from $86.00 to $103.00 in a research note on Tuesday, May 14th. OTR Global upgraded Edwards Lifesciences from a “mixed” rating to a “positive” rating in a research report on Tuesday, March 26th. The Goldman Sachs Group initiated coverage on Edwards Lifesciences in a research note on Thursday, May 30th. They set a “buy” rating and a $107.00 price objective on the stock. Bank of America upgraded shares of Edwards Lifesciences from a “neutral” rating to a “buy” rating in a research report on Thursday, March 7th. Finally, Citigroup raised shares of Edwards Lifesciences from a “neutral” rating to a “buy” rating and raised their price target for the company from $98.00 to $105.00 in a report on Wednesday, May 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $95.18.

Edwards Lifesciences Price Performance

EW opened at $91.27 on Wednesday. Edwards Lifesciences Co. has a 12-month low of $60.57 and a 12-month high of $96.12. The company has a market cap of $55.00 billion, a price-to-earnings ratio of 39.34, a price-to-earnings-growth ratio of 3.38 and a beta of 1.11. The company has a current ratio of 3.75, a quick ratio of 2.67 and a debt-to-equity ratio of 0.08. The stock has a fifty day simple moving average of $87.92 and a two-hundred day simple moving average of $85.46.

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

Edwards Lifesciences Company 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.