Miracle Mile Advisors LLC Has $827,000 Stake in Edwards Lifesciences Co. (NYSE:EW)

Miracle Mile Advisors LLC increased its stake in Edwards Lifesciences Co. (NYSE:EW) by 4.8% in the 4th quarter, Holdings Channel reports. The firm owned 11,171 shares of the medical research company’s stock after purchasing an additional 509 shares during the period. Miracle Mile Advisors LLC’s holdings in Edwards Lifesciences were worth $827,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. lifted its position in shares of Edwards Lifesciences by 2.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 11,135 shares of the medical research company’s stock worth $824,000 after purchasing an additional 273 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Edwards Lifesciences by 34.6% during the fourth quarter. Nordea Investment Management AB now owns 4,057,013 shares of the medical research company’s stock worth $301,355,000 after buying an additional 1,043,484 shares during the last quarter. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST boosted its position in shares of Edwards Lifesciences by 6.7% in the fourth quarter. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST now owns 4,800,000 shares of the medical research company’s stock valued at $355,344,000 after acquiring an additional 300,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Edwards Lifesciences by 9.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 478,418 shares of the medical research company’s stock worth $31,571,000 after acquiring an additional 40,348 shares during the last quarter. Finally, AIA Group Ltd increased its position in Edwards Lifesciences by 91.7% during the third quarter. AIA Group Ltd now owns 749,524 shares of the medical research company’s stock worth $49,461,000 after acquiring an additional 358,556 shares during the period. Institutional investors own 79.46% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on EW. Bank of America raised shares of Edwards Lifesciences from a “neutral” rating to a “buy” rating and increased their price target for the company from $82.00 to $90.00 in a report on Monday, December 16th. Robert W. Baird decreased their target price on Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Evercore ISI reduced their price objective on Edwards Lifesciences from $76.00 to $70.00 and set an “in-line” rating for the company in a research report on Tuesday, October 1st. JPMorgan Chase & Co. boosted their price objective on Edwards Lifesciences from $72.00 to $78.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $70.00 target price on shares of Edwards Lifesciences in a research report on Friday, October 11th. Sixteen analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $79.40.

Insider Activity

In other news, VP Daniel J. Lippis sold 2,500 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $74.08, for a total value of $185,200.00. Following the transaction, the vice president now directly owns 23,189 shares in the company, valued at $1,717,841.12. This trade represents a 9.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Larry L. Wood sold 25,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $65.91, for a total value of $1,647,750.00. Following the completion of the sale, the insider now owns 198,526 shares of the company’s stock, valued at $13,084,848.66. This represents a 11.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,500 shares of company stock valued at $2,160,800 over the last 90 days. 1.29% of the stock is owned by company insiders.

Edwards Lifesciences Trading Down 1.1 %

EW opened at $70.29 on Thursday. Edwards Lifesciences Co. has a 1-year low of $58.93 and a 1-year high of $96.12. The stock has a market capitalization of $41.46 billion, a PE ratio of 10.14, a PEG ratio of 3.61 and a beta of 1.11. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average price of $71.82 and a two-hundred day moving average price of $71.62.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.67. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same quarter last year, the business posted $0.59 earnings per share. Edwards Lifesciences’s revenue for the quarter was up 8.9% compared to the same quarter last year. As a group, equities analysts anticipate that Edwards Lifesciences Co. will post 2.56 earnings per share for the current fiscal 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.