Redmile Group LLC Acquires Shares of 218,000 Edwards Lifesciences Corporation (EW)
Redmile Group LLC acquired a new position in shares of Edwards Lifesciences Corporation (NYSE:EW) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 218,000 shares of the medical research company’s stock, valued at approximately $25,776,000. Edwards Lifesciences Corporation accounts for approximately 1.6% of Redmile Group LLC’s holdings, making the stock its 23rd biggest holding. Redmile Group LLC owned about 0.10% of Edwards Lifesciences Corporation at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of EW. ETF Managers Group LLC acquired a new stake in Edwards Lifesciences Corporation in the second quarter worth $112,000. Shine Investment Advisory Services Inc. acquired a new stake in Edwards Lifesciences Corporation in the second quarter worth $126,000. Cornerstone Advisors Inc. grew its holdings in Edwards Lifesciences Corporation by 25.1% in the second quarter. Cornerstone Advisors Inc. now owns 1,092 shares of the medical research company’s stock worth $129,000 after purchasing an additional 219 shares during the period. Alexandria Capital LLC grew its holdings in Edwards Lifesciences Corporation by 1.7% in the second quarter. Alexandria Capital LLC now owns 1,146 shares of the medical research company’s stock worth $136,000 after purchasing an additional 19 shares during the period. Finally, Captrust Financial Advisors acquired a new stake in Edwards Lifesciences Corporation in the second quarter worth $149,000. Institutional investors own 82.08% of the company’s stock.
Edwards Lifesciences Corporation (NYSE EW) traded down 0.15% on Friday, hitting $111.46. 1,423,309 shares of the company were exchanged. The company has a 50 day moving average price of $111.90 and a 200-day moving average price of $110.77. The stock has a market capitalization of $23.54 billion, a P/E ratio of 33.81 and a beta of 0.62. Edwards Lifesciences Corporation has a 52 week low of $81.12 and a 52 week high of $121.75.
Edwards Lifesciences Corporation (NYSE:EW) last announced its quarterly earnings data on Wednesday, July 26th. The medical research company reported $1.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.20. Edwards Lifesciences Corporation had a net margin of 22.16% and a return on equity of 27.17%. The company had revenue of $842.00 million for the quarter, compared to the consensus estimate of $839.16 million. During the same period in the prior year, the firm posted $0.76 EPS. Edwards Lifesciences Corporation’s revenue for the quarter was up 10.9% on a year-over-year basis. On average, equities analysts expect that Edwards Lifesciences Corporation will post $3.78 earnings per share for the current fiscal year.
In other news, CEO Michael A. Mussallem sold 32,900 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $114.80, for a total transaction of $3,776,920.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Catherine M. Szyman sold 4,681 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $115.78, for a total transaction of $541,966.18. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 182,201 shares of company stock worth $20,768,154. Insiders own 2.13% of the company’s stock.
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A number of equities research analysts have commented on the stock. Bank of America Corporation raised their price target on shares of Edwards Lifesciences Corporation from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, July 27th. BidaskClub cut shares of Edwards Lifesciences Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. SunTrust Banks, Inc. raised their price target on shares of Edwards Lifesciences Corporation to $14.00 and gave the stock a “buy” rating in a report on Monday, July 17th. Canaccord Genuity restated a “buy” rating and issued a $155.00 price target (up from $150.00) on shares of Edwards Lifesciences Corporation in a report on Sunday, July 30th. Finally, Barclays PLC restated an “equal weight” rating and issued a $120.00 price target on shares of Edwards Lifesciences Corporation in a report on Saturday, September 30th. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Edwards Lifesciences Corporation currently has an average rating of “Buy” and a consensus price target of $120.75.
Edwards Lifesciences Corporation Profile
Edwards Lifesciences Corporation is a manufacturer of heart valve systems and repair products used to replace or repair a patient’s diseased or defective heart valve. The Company is engaged in patient-focused innovations for structural heart disease and critical care monitoring. Its segments include United States, Europe, Japan and Rest of World.
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