FORA Capital LLC Purchases New Shares in Edwards Lifesciences Co. (NYSE:EW)

FORA Capital LLC purchased a new position in shares of Edwards Lifesciences Co. (NYSE:EW) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 87,974 shares of the medical research company’s stock, valued at approximately $5,805,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Kennedy Capital Management LLC purchased a new stake in Edwards Lifesciences during the 1st quarter valued at approximately $2,440,000. B. Riley Wealth Advisors Inc. increased its holdings in shares of Edwards Lifesciences by 80.4% in the first quarter. B. Riley Wealth Advisors Inc. now owns 21,065 shares of the medical research company’s stock valued at $2,013,000 after purchasing an additional 9,390 shares during the period. Tidal Investments LLC raised its stake in shares of Edwards Lifesciences by 54.7% during the first quarter. Tidal Investments LLC now owns 30,245 shares of the medical research company’s stock worth $2,890,000 after purchasing an additional 10,700 shares during the last quarter. Plato Investment Management Ltd lifted its holdings in shares of Edwards Lifesciences by 982.2% during the first quarter. Plato Investment Management Ltd now owns 7,521 shares of the medical research company’s stock worth $719,000 after purchasing an additional 6,826 shares during the period. Finally, Wahed Invest LLC grew its position in Edwards Lifesciences by 15.7% in the 1st quarter. Wahed Invest LLC now owns 11,689 shares of the medical research company’s stock valued at $1,117,000 after buying an additional 1,584 shares during the last quarter. 79.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Edwards Lifesciences

In other news, insider Larry L. Wood sold 25,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $65.91, for a total transaction of $1,647,750.00. Following the completion of the transaction, the insider now owns 198,526 shares of the company’s stock, valued at $13,084,848.66. This represents a 11.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $69.51, for a total transaction of $347,550.00. Following the completion of the sale, the vice president now directly owns 46,936 shares in the company, valued at $3,262,521.36. This represents a 9.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 40,000 shares of company stock valued at $2,657,000. Company insiders own 1.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on EW. Oppenheimer restated an “outperform” rating and issued a $90.00 target price on shares of Edwards Lifesciences in a research note on Thursday, September 12th. Evercore ISI reduced their price objective on shares of Edwards Lifesciences from $76.00 to $70.00 and set an “in-line” rating for the company in a research report on Tuesday, October 1st. JPMorgan Chase & Co. boosted their target price on Edwards Lifesciences from $72.00 to $78.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Barclays reduced their price target on Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Monday, September 9th. Finally, Robert W. Baird dropped their price objective on Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Seventeen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $75.67.

Edwards Lifesciences Price Performance

NYSE:EW traded up $0.52 during trading hours on Wednesday, reaching $72.07. 524,008 shares of the company traded hands, compared to its average volume of 4,630,480. Edwards Lifesciences Co. has a 1-year low of $58.93 and a 1-year high of $96.12. The stock has a market cap of $42.51 billion, a P/E ratio of 10.33, a P/E/G ratio of 4.01 and a beta of 1.12. The firm’s 50-day moving average is $67.83 and its 200-day moving average is $75.37. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data on Thursday, October 24th. The medical research company reported $0.67 EPS for the quarter, hitting analysts’ consensus estimates of $0.67. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter last year, the business posted $0.59 EPS. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. Equities research analysts expect that Edwards Lifesciences Co. will post 2.57 earnings per share for the current fiscal year.

About Edwards Lifesciences

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.