Edwards Lifesciences Co. (NYSE:EW) Shares Bought by Malaga Cove Capital LLC

Malaga Cove Capital LLC increased its stake in Edwards Lifesciences Co. (NYSE:EW) by 3.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,176 shares of the medical research company’s stock after acquiring an additional 339 shares during the quarter. Malaga Cove Capital LLC’s holdings in Edwards Lifesciences were worth $753,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Crowley Wealth Management Inc. purchased a new stake in Edwards Lifesciences during the fourth quarter valued at about $26,000. Millstone Evans Group LLC acquired a new stake in Edwards Lifesciences during the fourth quarter valued at $29,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Edwards Lifesciences in the fourth quarter worth approximately $30,000. Roble Belko & Company Inc bought a new stake in Edwards Lifesciences in the fourth quarter worth $46,000. Finally, Catalyst Capital Advisors LLC acquired a new position in Edwards Lifesciences during the fourth quarter worth $54,000. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EW has been the subject of a number of analyst reports. Wolfe Research cut Edwards Lifesciences from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 12th. Evercore ISI reduced their target price on Edwards Lifesciences from $75.00 to $73.00 and set an “in-line” rating for the company in a report on Wednesday, February 12th. Canaccord Genuity Group increased their price target on Edwards Lifesciences from $71.00 to $75.00 and gave the company a “hold” rating in a report on Friday, April 25th. Royal Bank of Canada reissued an “outperform” rating and set a $85.00 target price on shares of Edwards Lifesciences in a research report on Wednesday, February 12th. Finally, Barclays increased their price objective on Edwards Lifesciences from $88.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Edwards Lifesciences has a consensus rating of “Hold” and a consensus target price of $79.60.

Insider Activity at Edwards Lifesciences

In other news, Director Steven R. Loranger sold 5,739 shares of Edwards Lifesciences stock in a transaction on Friday, February 14th. The stock was sold at an average price of $76.42, for a total value of $438,574.38. Following the completion of the sale, the director now directly owns 60,372 shares of the company’s stock, valued at approximately $4,613,628.24. This trade represents a 8.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Scott B. Ullem sold 11,250 shares of the business’s stock in a transaction on Friday, May 9th. The stock was sold at an average price of $74.40, for a total value of $837,000.00. Following the sale, the chief financial officer now owns 41,098 shares of the company’s stock, valued at approximately $3,057,691.20. The trade was a 21.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold 89,681 shares of company stock valued at $6,492,703 over the last ninety days. 1.29% of the stock is owned by insiders.

Edwards Lifesciences Price Performance

Shares of Edwards Lifesciences stock opened at $75.48 on Wednesday. The stock has a market capitalization of $44.28 billion, a price-to-earnings ratio of 10.83, a P/E/G ratio of 4.82 and a beta of 1.12. The firm’s 50-day moving average price is $71.59 and its two-hundred day moving average price is $71.58. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. Edwards Lifesciences Co. has a 1-year low of $58.93 and a 1-year high of $95.25.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.04. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the company earned $0.66 EPS. Edwards Lifesciences’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, equities analysts predict that Edwards Lifesciences Co. will post 2.45 earnings per share for the current fiscal year.

Edwards Lifesciences Company 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.