GAMMA Investing LLC Makes New Investment in Edwards Lifesciences Co. (NYSE:EW)

GAMMA Investing LLC purchased a new position in shares of Edwards Lifesciences Co. (NYSE:EW) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,295 shares of the medical research company’s stock, valued at approximately $180,000.

A number of other institutional investors also recently added to or reduced their stakes in EW. Caprock Group LLC boosted its position in Edwards Lifesciences by 4.8% during the 3rd quarter. Caprock Group LLC now owns 8,611 shares of the medical research company’s stock worth $597,000 after acquiring an additional 392 shares during the period. Oak Thistle LLC acquired a new stake in shares of Edwards Lifesciences in the third quarter valued at $700,000. Czech National Bank lifted its holdings in shares of Edwards Lifesciences by 48.1% in the third quarter. Czech National Bank now owns 106,252 shares of the medical research company’s stock valued at $7,361,000 after buying an additional 34,487 shares during the period. Asset Management One Co. Ltd. lifted its holdings in shares of Edwards Lifesciences by 0.5% in the third quarter. Asset Management One Co. Ltd. now owns 323,224 shares of the medical research company’s stock valued at $22,393,000 after buying an additional 1,622 shares during the period. Finally, Connecticut Wealth Management LLC lifted its holdings in shares of Edwards Lifesciences by 66.7% in the third quarter. Connecticut Wealth Management LLC now owns 9,960 shares of the medical research company’s stock valued at $690,000 after buying an additional 3,985 shares during the period. Institutional investors and hedge funds own 79.46% of the company’s stock.

Insider Activity at Edwards Lifesciences

In related news, CFO Scott B. Ullem sold 7,255 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $78.29, for a total transaction of $567,993.95. Following the completion of the sale, the chief financial officer now owns 19,248 shares in the company, valued at approximately $1,506,925.92. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Heisz Leslie Stone sold 7,056 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $86.45, for a total value of $609,991.20. Following the completion of the transaction, the director now directly owns 26,980 shares of the company’s stock, valued at approximately $2,332,421. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Scott B. Ullem sold 7,255 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $78.29, for a total value of $567,993.95. Following the completion of the transaction, the chief financial officer now directly owns 19,248 shares of the company’s stock, valued at $1,506,925.92. The disclosure for this sale can be found here. Insiders sold a total of 194,004 shares of company stock worth $17,166,254 in the last 90 days. 1.29% of the stock is owned by company insiders.

Edwards Lifesciences Stock Performance

Shares of EW stock opened at $86.43 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.38 and a quick ratio of 2.40. Edwards Lifesciences Co. has a fifty-two week low of $60.57 and a fifty-two week high of $96.12. The stock’s 50-day moving average is $90.28 and its two-hundred day moving average is $78.85. The firm has a market cap of $52.02 billion, a P/E ratio of 37.25, a PEG ratio of 4.36 and a beta of 1.05.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Thursday, April 25th. The medical research company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.02. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.58 billion. Edwards Lifesciences had a return on equity of 23.34% and a net margin of 23.01%. Analysts predict that Edwards Lifesciences Co. will post 2.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on EW. Morgan Stanley upped their price objective on Edwards Lifesciences from $95.00 to $103.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. Bank of America raised Edwards Lifesciences from a “neutral” rating to a “buy” rating in a research report on Thursday, March 7th. Evercore ISI cut their target price on Edwards Lifesciences from $92.00 to $89.00 and set an “in-line” rating on the stock in a research report on Friday. Wells Fargo & Company boosted their target price on Edwards Lifesciences from $94.00 to $99.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Mizuho boosted their target price on Edwards Lifesciences from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $93.33.

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.