Catalyst Capital Advisors LLC Acquires New Position in Edwards Lifesciences Corporation $EW

Catalyst Capital Advisors LLC acquired a new stake in Edwards Lifesciences Corporation (NYSE:EW) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,360 shares of the medical research company’s stock, valued at approximately $106,000.

Several other hedge funds have also recently added to or reduced their stakes in EW. Brighton Jones LLC purchased a new stake in shares of Edwards Lifesciences during the fourth quarter worth about $266,000. Oppenheimer Asset Management Inc. lifted its position in Edwards Lifesciences by 23.5% during the first quarter. Oppenheimer Asset Management Inc. now owns 21,699 shares of the medical research company’s stock valued at $1,573,000 after buying an additional 4,125 shares in the last quarter. Golden State Wealth Management LLC lifted its position in shares of Edwards Lifesciences by 125.0% during the first quarter. Golden State Wealth Management LLC now owns 5,135 shares of the medical research company’s stock worth $372,000 after purchasing an additional 2,853 shares in the last quarter. Perigon Wealth Management LLC lifted its position in shares of Edwards Lifesciences by 6.9% during the first quarter. Perigon Wealth Management LLC now owns 4,325 shares of the medical research company’s stock worth $313,000 after purchasing an additional 278 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its holdings in Edwards Lifesciences by 190.9% in the first quarter. Sequoia Financial Advisors LLC now owns 23,495 shares of the medical research company’s stock valued at $1,703,000 after acquiring an additional 15,417 shares in the last quarter. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Edwards Lifesciences news, VP Daniel J. Lippis sold 4,114 shares of the stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $79.46, for a total transaction of $326,898.44. Following the transaction, the vice president owned 22,002 shares in the company, valued at $1,748,278.92. This trade represents a 15.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Larry L. Wood sold 8,950 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $78.06, for a total value of $698,637.00. Following the transaction, the insider owned 206,900 shares in the company, valued at approximately $16,150,614. This trade represents a 4.15% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.29% of the company’s stock.

Edwards Lifesciences Price Performance

Shares of EW opened at $76.15 on Friday. The company has a market capitalization of $44.70 billion, a price-to-earnings ratio of 10.96, a P/E/G ratio of 3.65 and a beta of 1.05. Edwards Lifesciences Corporation has a fifty-two week low of $64.89 and a fifty-two week high of $83.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.68 and a quick ratio of 3.87. The business’s 50-day moving average is $77.37 and its 200-day moving average is $76.43.

Edwards Lifesciences (NYSE:EW) last issued its earnings results on Thursday, July 24th. The medical research company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.05. Edwards Lifesciences had a return on equity of 15.01% and a net margin of 72.96%.The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the company earned $0.70 EPS. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. Equities research analysts expect that Edwards Lifesciences Corporation will post 2.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on EW. Oppenheimer lowered shares of Edwards Lifesciences from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 8th. BTIG Research raised shares of Edwards Lifesciences from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a report on Tuesday, July 29th. Truist Financial upped their price target on shares of Edwards Lifesciences from $81.00 to $82.00 and gave the company a “hold” rating in a report on Friday, July 25th. Argus raised shares of Edwards Lifesciences to a “strong-buy” rating in a report on Thursday, July 10th. Finally, Morgan Stanley upped their price target on shares of Edwards Lifesciences from $75.00 to $81.00 and gave the company an “equal weight” rating in a report on Tuesday, July 15th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $87.06.

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.