Edgestream Partners L.P. Invests $438,000 in Edwards Lifesciences Co. (NYSE:EW)

Edgestream Partners L.P. purchased a new position in shares of Edwards Lifesciences Co. (NYSE:EW) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,742 shares of the medical research company’s stock, valued at approximately $438,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new position in Edwards Lifesciences during the first quarter worth about $28,000. First Community Trust NA purchased a new position in Edwards Lifesciences during the second quarter worth about $29,000. Riverview Trust Co purchased a new position in Edwards Lifesciences during the first quarter worth about $34,000. DSM Capital Partners LLC purchased a new position in Edwards Lifesciences during the fourth quarter worth about $28,000. Finally, Webster Bank N. A. purchased a new position in Edwards Lifesciences during the second quarter worth about $39,000. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

Edwards Lifesciences Stock Performance

Edwards Lifesciences stock opened at $66.83 on Monday. The firm’s 50 day simple moving average is $69.89 and its 200 day simple moving average is $82.80. The company has a current ratio of 3.71, a quick ratio of 2.87 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $40.27 billion, a PE ratio of 28.81, a price-to-earnings-growth ratio of 2.85 and a beta of 1.13. Edwards Lifesciences Co. has a 1-year low of $58.93 and a 1-year high of $96.12.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Wednesday, July 24th. The medical research company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the firm earned $0.66 EPS. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, analysts expect that Edwards Lifesciences Co. will post 2.7 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $66.08, for a total value of $330,400.00. Following the completion of the sale, the vice president now owns 46,936 shares in the company, valued at approximately $3,101,530.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Daveen Chopra sold 1,250 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total transaction of $87,437.50. Following the transaction, the vice president now directly owns 29,333 shares of the company’s stock, valued at $2,051,843.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total value of $330,400.00. Following the sale, the vice president now owns 46,936 shares of the company’s stock, valued at $3,101,530.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,250 shares of company stock worth $1,218,138. 1.29% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on EW shares. Canaccord Genuity Group dropped their target price on shares of Edwards Lifesciences from $85.00 to $77.00 and set a “hold” rating on the stock in a research note on Thursday, July 25th. StockNews.com cut shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Royal Bank of Canada dropped their target price on shares of Edwards Lifesciences from $101.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. TD Cowen cut shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and dropped their target price for the company from $100.00 to $70.00 in a research note on Thursday, July 25th. Finally, Robert W. Baird cut shares of Edwards Lifesciences from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $102.00 to $70.00 in a research note on Thursday, July 25th. Sixteen investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $79.82.

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.