Balasa Dinverno & Foltz LLC Increases Stock Position in Edwards Lifesciences Corp (NYSE:EW)

Balasa Dinverno & Foltz LLC grew its holdings in shares of Edwards Lifesciences Corp (NYSE:EW) by 4.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 5,827 shares of the medical research company’s stock after acquiring an additional 245 shares during the period. Balasa Dinverno & Foltz LLC’s holdings in Edwards Lifesciences were worth $1,281,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in EW. TRUE Private Wealth Advisors bought a new position in shares of Edwards Lifesciences during the second quarter valued at $26,000. Quest Capital Management Inc. ADV bought a new position in Edwards Lifesciences during the third quarter worth $28,000. Evolution Wealth Advisors LLC bought a new position in Edwards Lifesciences during the second quarter worth $29,000. M&R Capital Management Inc. bought a new position in Edwards Lifesciences during the second quarter worth $29,000. Finally, Next Capital Management LLC raised its stake in Edwards Lifesciences by 297.7% during the second quarter. Next Capital Management LLC now owns 171 shares of the medical research company’s stock worth $32,000 after buying an additional 128 shares during the last quarter. 80.87% of the stock is owned by hedge funds and other institutional investors.

Edwards Lifesciences stock traded up $1.63 during midday trading on Wednesday, hitting $246.19. 1,153,212 shares of the stock were exchanged, compared to its average volume of 1,217,416. Edwards Lifesciences Corp has a 52-week low of $139.64 and a 52-week high of $247.64. The stock has a market capitalization of $51.09 billion, a price-to-earnings ratio of 52.38, a price-to-earnings-growth ratio of 2.96 and a beta of 0.80. The business’s 50-day moving average price is $237.19 and its 200-day moving average price is $211.39. The company has a quick ratio of 2.74, a current ratio of 3.53 and a debt-to-equity ratio of 0.17.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.19. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Edwards Lifesciences had a net margin of 18.64% and a return on equity of 32.28%. The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.07 earnings per share. On average, sell-side analysts predict that Edwards Lifesciences Corp will post 5.6 earnings per share for the current fiscal year.

A number of equities analysts recently weighed in on EW shares. Raymond James lifted their target price on shares of Edwards Lifesciences from $250.00 to $255.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Cowen lifted their price target on shares of Edwards Lifesciences from $250.00 to $265.00 and gave the company a “positive” rating in a research note on Thursday, October 24th. Wells Fargo & Co lifted their price target on shares of Edwards Lifesciences from $250.00 to $262.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. ValuEngine downgraded shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Canaccord Genuity lifted their price target on shares of Edwards Lifesciences from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the stock. Edwards Lifesciences currently has a consensus rating of “Buy” and a consensus price target of $231.94.

In other news, VP Huimin Wang sold 4,650 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $222.06, for a total value of $1,032,579.00. Following the sale, the vice president now owns 36,898 shares of the company’s stock, valued at $8,193,569.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Michael A. Mussallem sold 22,850 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $242.38, for a total transaction of $5,538,383.00. Over the last quarter, insiders sold 131,301 shares of company stock worth $30,331,718. Corporate insiders own 1.63% of the company’s stock.

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.

Recommended Story: Marijuana Stocks

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.