Edwards Lifesciences Corporation $EW Shares Newly Bought by Cornerstone Advisors LLC

Cornerstone Advisors LLC purchased a new position in shares of Edwards Lifesciences Corporation (NYSE:EW) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 107,045 shares of the medical research company’s stock, valued at approximately $9,240,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Pin Oak Investment Advisors Inc. purchased a new position in shares of Edwards Lifesciences during the 2nd quarter valued at about $26,000. TrinityBridge Ltd bought a new stake in Edwards Lifesciences in the 2nd quarter worth approximately $27,000. GK Wealth Management LLC bought a new stake in Edwards Lifesciences in the 3rd quarter worth approximately $26,000. RMG Wealth Management LLC purchased a new stake in Edwards Lifesciences in the first quarter worth approximately $26,000. Finally, Compass Financial Management LLC purchased a new stake in Edwards Lifesciences in the second quarter worth approximately $32,000. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Annette Brüls sold 2,644 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $89.98, for a total value of $237,907.12. Following the transaction, the vice president owned 17,984 shares in the company, valued at approximately $1,618,200.32. This trade represents a 12.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Andrew M. Dahl sold 544 shares of Edwards Lifesciences stock in a transaction on Monday, August 31st. The stock was sold at an average price of $91.06, for a total transaction of $49,536.64. Following the completion of the transaction, the senior vice president directly owned 14,868 shares in the company, valued at approximately $1,353,880.08. The trade was a 3.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 53,945 shares of company stock worth $5,498,306 over the last ninety days. Company insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on EW. Robert W. Baird upgraded shares of Edwards Lifesciences from a “neutral” rating to an “outperform” rating and set a $116.00 price target on the stock in a research report on Thursday, November 5th. Deutsche Bank set a $104.00 price objective on shares of Edwards Lifesciences in a research note on Tuesday, October 27th. Citigroup upped their price objective on shares of Edwards Lifesciences from $110.00 to $117.00 and gave the company a “buy” rating in a research note on Thursday, November 5th. Weiss Ratings raised shares of Edwards Lifesciences from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday. Finally, TD Cowen lifted their target price on shares of Edwards Lifesciences from $117.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday. Twenty-three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $109.56.

Edwards Lifesciences Trading Up 1.3%

Shares of EW stock opened at $107.16 on Friday. The stock has a market capitalization of $61.62 billion, a PE ratio of 60.54, a P/E/G ratio of 2.82 and a beta of 0.85. Edwards Lifesciences Corporation has a 1-year low of $74.66 and a 1-year high of $107.69. The business has a 50-day moving average of $90.42 and a 200 day moving average of $86.32. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.60 and a quick ratio of 3.86.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Wednesday, November 4th. The medical research company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.06. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.68 billion. Edwards Lifesciences had a return on equity of 16.06% and a net margin of 15.30%. Edwards Lifesciences’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period last year, the company earned $0.67 EPS. As a group, sell-side analysts anticipate that Edwards Lifesciences Corporation will post 3.01 earnings per share for the current year.

About Edwards Lifesciences

Edwards Lifesciences is a medical technology company focused on therapies for structural heart disease and critical care. Its products include transcatheter and surgical heart valves, as well as technologies used to monitor patients during intensive care and surgery. The company traces its origins to 1958, when engineer Lowell Edwards and surgeon Albert Starr began developing an artificial heart valve. Their work led to the Starr-Edwards valve, introduced in 1960. Edwards Lifesciences is headquartered in Irvine, California, and serves clinicians and patients around the world.