Global Assets Advisory LLC Invests $3.05 Million in Edwards Lifesciences Co. (NYSE:EW)

Global Assets Advisory LLC purchased a new position in shares of Edwards Lifesciences Co. (NYSE:EW) during the first quarter, HoldingsChannel.com reports. The fund purchased 31,951 shares of the medical research company’s stock, valued at approximately $3,053,000.

Other hedge funds also recently modified their holdings of the company. DSM Capital Partners LLC acquired a new stake in Edwards Lifesciences in the 4th quarter valued at approximately $28,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Edwards Lifesciences in the 4th quarter valued at approximately $34,000. Pingora Partners LLC acquired a new stake in Edwards Lifesciences in the 4th quarter valued at approximately $38,000. Operose Advisors LLC raised its position in Edwards Lifesciences by 247.0% in the 3rd quarter. Operose Advisors LLC now owns 635 shares of the medical research company’s stock valued at $44,000 after buying an additional 452 shares during the last quarter. Finally, SRS Capital Advisors Inc. raised its position in Edwards Lifesciences by 292.6% in the 3rd quarter. SRS Capital Advisors Inc. now owns 636 shares of the medical research company’s stock valued at $44,000 after buying an additional 474 shares during the last quarter. Institutional investors and hedge funds own 79.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on EW shares. Oppenheimer boosted their price target on Edwards Lifesciences from $93.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, March 18th. StockNews.com lowered Edwards Lifesciences from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. Bank of America raised Edwards Lifesciences from a “neutral” rating to a “buy” rating in a research report on Thursday, March 7th. OTR Global raised Edwards Lifesciences from a “mixed” rating to a “positive” rating in a research report on Tuesday, March 26th. Finally, Mizuho boosted their price target on Edwards Lifesciences from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.06.

Edwards Lifesciences Stock Performance

EW opened at $91.11 on Wednesday. The business has a fifty day simple moving average of $87.50 and a 200 day simple moving average of $84.95. The company has a market capitalization of $54.90 billion, a PE ratio of 39.27, a price-to-earnings-growth ratio of 3.33 and a beta of 1.11. Edwards Lifesciences Co. has a 1 year low of $60.57 and a 1 year high of $96.12. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.75 and a quick ratio of 2.67.

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

Insider Activity at Edwards Lifesciences

In related news, CFO Scott B. Ullem sold 7,255 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $94.89, for a total value of $688,426.95. Following the completion of the sale, the chief financial officer now directly owns 19,074 shares in the company, valued at approximately $1,809,931.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Edwards Lifesciences news, Director Michael A. Mussallem sold 29,350 shares of Edwards Lifesciences 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 directly owns 4,486 shares of the company’s stock, valued at approximately $414,596.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Scott B. Ullem sold 7,255 shares of Edwards Lifesciences stock in a transaction on Monday, April 1st. The shares were sold at an average price of $94.89, for a total value of $688,426.95. Following the completion of the transaction, the chief financial officer now directly owns 19,074 shares of the company’s stock, valued at $1,809,931.86. The disclosure for this sale can be found here. Insiders sold 127,104 shares of company stock worth $11,267,464 in the last ninety days. 1.27% of the stock is owned by company insiders.

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.