Highbridge Capital Management LLC acquired a new stake in Edwards Lifesciences Corporation (NYSE:EW) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 128,748 shares of the medical research company’s stock, valued at approximately $14,074,000. Highbridge Capital Management LLC owned about 0.06% of Edwards Lifesciences as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also made changes to their positions in EW. ETF Managers Group LLC bought a new position in shares of Edwards Lifesciences during the second quarter worth $112,000. MPS Loria Financial Planners LLC bought a new position in shares of Edwards Lifesciences during the second quarter worth $140,000. Captrust Financial Advisors bought a new position in shares of Edwards Lifesciences during the second quarter worth $149,000. Dupont Capital Management Corp bought a new position in shares of Edwards Lifesciences during the third quarter worth $142,000. Finally, Salem Investment Counselors Inc. boosted its position in shares of Edwards Lifesciences by 16.3% during the second quarter. Salem Investment Counselors Inc. now owns 1,419 shares of the medical research company’s stock worth $168,000 after purchasing an additional 199 shares in the last quarter. 81.82% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Edwards Lifesciences Corporation (NYSE EW) opened at $118.05 on Monday. The company has a market cap of $24,977.50, a price-to-earnings ratio of 32.69, a P/E/G ratio of 2.11 and a beta of 0.51. Edwards Lifesciences Corporation has a 52-week low of $86.55 and a 52-week high of $121.45. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.49 and a quick ratio of 2.76.
Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Tuesday, October 24th. The medical research company reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.02). Edwards Lifesciences had a net margin of 22.47% and a return on equity of 27.22%. The business had revenue of $821.50 million during the quarter, compared to analyst estimates of $833.85 million. During the same quarter in the previous year, the firm posted $0.68 earnings per share. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. equities analysts predict that Edwards Lifesciences Corporation will post 3.76 earnings per share for the current fiscal year.
Edwards Lifesciences announced that its Board of Directors has initiated a stock repurchase plan on Thursday, December 7th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the medical research company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,300 shares of Edwards Lifesciences stock in a transaction on Friday, September 29th. The shares were sold at an average price of $108.86, for a total value of $576,958.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Larry L. Wood sold 18,960 shares of Edwards Lifesciences stock in a transaction on Friday, September 15th. The shares were sold at an average price of $112.58, for a total transaction of $2,134,516.80. The disclosure for this sale can be found here. Insiders sold a total of 139,580 shares of company stock worth $14,849,205 over the last quarter. Company insiders own 2.13% of the company’s stock.
EW has been the topic of a number of recent analyst reports. Canaccord Genuity reissued a “buy” rating and set a $135.00 price target (down from $155.00) on shares of Edwards Lifesciences in a research report on Wednesday, October 25th. BMO Capital Markets reissued a “buy” rating and set a $132.00 price target on shares of Edwards Lifesciences in a research report on Friday, September 1st. William Blair reissued an “outperform” rating on shares of Edwards Lifesciences in a research report on Monday, August 28th. SunTrust Banks set a $124.00 price target on shares of Edwards Lifesciences and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Finally, Morgan Stanley reduced their price target on shares of Edwards Lifesciences from $133.00 to $120.00 and set an “overweight” rating on the stock in a research report on Thursday, October 26th. Six equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $126.43.
COPYRIGHT VIOLATION NOTICE: “Highbridge Capital Management LLC Invests $14.07 Million in Edwards Lifesciences Corporation (EW) Stock” was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this story on another website, it was illegally copied and republished in violation of US & international copyright & trademark laws. The legal version of this story can be accessed at https://ledgergazette.com/2017/12/11/highbridge-capital-management-llc-invests-14-07-million-in-edwards-lifesciences-corporation-ew-stock.html.
About Edwards Lifesciences
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.
Want to see what other hedge funds are holding EW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Edwards Lifesciences Corporation (NYSE:EW).
Receive News & Ratings for Edwards Lifesciences Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edwards Lifesciences Corporation and related companies with MarketBeat.com's FREE daily email newsletter.