Lockheed Martin Investment Management Co. Invests $4.50 Million in Edwards Lifesciences Co. (NYSE:EW)

Lockheed Martin Investment Management Co. bought a new stake in Edwards Lifesciences Co. (NYSE:EW) during the fourth quarter, Holdings Channel.com reports. The fund bought 60,770 shares of the medical research company’s stock, valued at approximately $4,499,000.

Several other hedge funds have also bought and sold shares of EW. Wellington Management Group LLP raised its holdings in shares of Edwards Lifesciences by 86.3% during the 3rd quarter. Wellington Management Group LLP now owns 31,532,725 shares of the medical research company’s stock valued at $2,080,845,000 after buying an additional 14,610,123 shares in the last quarter. State Street Corp grew its position in Edwards Lifesciences by 1.0% during the third quarter. State Street Corp now owns 26,265,633 shares of the medical research company’s stock valued at $1,733,270,000 after acquiring an additional 256,538 shares during the last quarter. Geode Capital Management LLC grew its position in Edwards Lifesciences by 2.2% during the third quarter. Geode Capital Management LLC now owns 13,521,147 shares of the medical research company’s stock valued at $889,050,000 after acquiring an additional 284,918 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of Edwards Lifesciences by 9.8% during the third quarter. Fisher Asset Management LLC now owns 9,078,311 shares of the medical research company’s stock worth $599,078,000 after acquiring an additional 806,705 shares in the last quarter. Finally, Jennison Associates LLC bought a new stake in shares of Edwards Lifesciences in the 4th quarter worth approximately $555,939,000. 79.46% of the stock is currently owned by institutional investors.

Insider Activity at Edwards Lifesciences

In related news, VP Daniel J. Lippis sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $68.76, for a total transaction of $34,380.00. Following the completion of the sale, the vice president now owns 23,189 shares of the company’s stock, valued at $1,594,475.64. This trade represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $65.57, for a total transaction of $327,850.00. Following the completion of the transaction, the vice president now owns 46,936 shares of the company’s stock, valued at approximately $3,077,593.52. The trade was a 9.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,000 shares of company stock valued at $547,430 in the last three months. Company insiders own 1.27% of the company’s stock.

Edwards Lifesciences Trading Down 0.1 %

EW opened at $71.33 on Wednesday. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06. Edwards Lifesciences Co. has a 52 week low of $58.93 and a 52 week high of $96.12. The stock has a market cap of $42.07 billion, a PE ratio of 10.29, a PEG ratio of 3.72 and a beta of 1.11. The business has a 50 day moving average of $72.49 and a 200-day moving average of $69.63.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on EW. Wolfe Research cut shares of Edwards Lifesciences from a “peer perform” rating to an “underperform” rating and set a $60.00 target price on the stock. in a research report on Thursday, January 16th. Barclays lifted their price objective on Edwards Lifesciences from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. The Goldman Sachs Group increased their target price on Edwards Lifesciences from $81.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Daiwa America lowered Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, Stifel Nicolaus upgraded Edwards Lifesciences from a “hold” rating to a “buy” rating and boosted their price objective for the company from $75.00 to $90.00 in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Edwards Lifesciences presently has a consensus rating of “Hold” and a consensus price target of $79.19.

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.