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

Cornerstone Advisors LLC purchased a new stake in shares of Edwards Lifesciences Corporation (NYSE:EW) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 107,045 shares of the medical research company’s stock, valued at approximately $9,240,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Legacy Trust grew its position in shares of Edwards Lifesciences by 1.4% in the 3rd quarter. Legacy Trust now owns 7,409 shares of the medical research company’s stock worth $682,000 after buying an additional 104 shares during the last quarter. Flagship Harbor Advisors LLC increased its stake in shares of Edwards Lifesciences by 1.2% during the third quarter. Flagship Harbor Advisors LLC now owns 10,615 shares of the medical research company’s stock valued at $916,000 after buying an additional 125 shares during the period. Fifth Third Wealth Advisors LLC increased its stake in shares of Edwards Lifesciences by 1.8% during the third quarter. Fifth Third Wealth Advisors LLC now owns 7,268 shares of the medical research company’s stock valued at $627,000 after buying an additional 132 shares during the period. Calamos Wealth Management LLC increased its stake in shares of Edwards Lifesciences by 6.1% during the third quarter. Calamos Wealth Management LLC now owns 2,438 shares of the medical research company’s stock valued at $210,000 after buying an additional 141 shares during the period. Finally, Signaturefd LLC raised its holdings in shares of Edwards Lifesciences by 1.4% during the third quarter. Signaturefd LLC now owns 10,034 shares of the medical research company’s stock valued at $866,000 after acquiring an additional 142 shares in the last quarter. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EW. Jefferies Financial Group raised their price target on Edwards Lifesciences from $102.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Evercore reiterated an “outperform” rating on shares of Edwards Lifesciences in a report on Friday, October 23rd. Leerink Partners boosted their price objective on shares of Edwards Lifesciences from $101.00 to $112.00 and gave the company an “outperform” rating in a research report on Thursday, November 5th. BTIG Research upped their price objective on shares of Edwards Lifesciences from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, November 5th. Finally, Sanford C. Bernstein raised their target price on shares of Edwards Lifesciences from $99.00 to $106.00 and gave the stock a “market perform” rating in a research report on Thursday, November 5th. Twenty-three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Edwards Lifesciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.56.

Edwards Lifesciences Stock Performance

Edwards Lifesciences stock opened at $107.16 on Friday. Edwards Lifesciences Corporation has a fifty-two week low of $74.66 and a fifty-two week high of $107.69. The stock’s 50 day simple moving average is $90.42 and its two-hundred day simple moving average is $86.32. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.86 and a current ratio of 4.60. The stock has a market cap of $61.62 billion, a price-to-earnings ratio of 60.54, a PEG ratio of 2.82 and a beta of 0.85.

Edwards Lifesciences (NYSE:EW) last announced its 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. Edwards Lifesciences had a return on equity of 16.06% and a net margin of 15.30%. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the prior year, the company earned $0.67 EPS. The business’s revenue was up 10.5% compared to the same quarter last year. As a group, analysts expect that Edwards Lifesciences Corporation will post 3.01 earnings per share for the current fiscal year.

Insider Transactions at Edwards Lifesciences

In other Edwards Lifesciences news, VP Daniel J. Lippis sold 619 shares of the stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $104.25, for a total value of $64,530.75. Following the completion of the transaction, the vice president owned 40,034 shares in the company, valued at approximately $4,173,544.50. This represents a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Donald E. Bobo, Jr. sold 48,900 shares of the firm’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $103.05, for a total value of $5,039,145.00. Following the transaction, the vice president directly owned 22,798 shares of the company’s stock, valued at $2,349,333.90. This represents a 68.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 53,945 shares of company stock valued at $5,498,306. Company insiders own 0.31% of the company’s stock.

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.