Paloma Partners Management Co Purchases 53,337 Shares of Edwards Lifesciences Corp (NYSE:EW)

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Paloma Partners Management Co lifted its position in shares of Edwards Lifesciences Corp (NYSE:EW) by 35.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 205,033 shares of the medical research company’s stock after acquiring an additional 53,337 shares during the quarter. Edwards Lifesciences makes up 0.6% of Paloma Partners Management Co’s investment portfolio, making the stock its 18th largest position. Paloma Partners Management Co owned approximately 0.10% of Edwards Lifesciences worth $37,878,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of EW. TRUE Private Wealth Advisors bought a new stake in shares of Edwards Lifesciences during the 2nd quarter valued at about $26,000. Evolution Wealth Advisors LLC bought a new stake in shares of Edwards Lifesciences during the 2nd quarter valued at about $29,000. M&R Capital Management Inc. bought a new stake in shares of Edwards Lifesciences during the 2nd quarter valued at about $29,000. Next Capital Management LLC boosted its position in shares of Edwards Lifesciences by 297.7% during the 2nd quarter. Next Capital Management LLC now owns 171 shares of the medical research company’s stock valued at $32,000 after acquiring an additional 128 shares during the last quarter. Finally, Tarbox Family Office Inc. boosted its position in shares of Edwards Lifesciences by 48.7% during the 2nd quarter. Tarbox Family Office Inc. now owns 177 shares of the medical research company’s stock valued at $33,000 after acquiring an additional 58 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

Shares of EW traded down $2.75 during mid-day trading on Thursday, hitting $215.09. 23,506 shares of the company’s stock traded hands, compared to its average volume of 923,243. The company has a quick ratio of 2.48, a current ratio of 3.38 and a debt-to-equity ratio of 0.18. Edwards Lifesciences Corp has a 1 year low of $136.44 and a 1 year high of $228.19. The firm has a market capitalization of $44.73 billion, a P/E ratio of 45.77, a PEG ratio of 2.71 and a beta of 0.84. The business’s 50-day moving average price is $217.87 and its 200-day moving average price is $192.37.

Edwards Lifesciences (NYSE:EW) last posted its earnings results on Tuesday, July 23rd. The medical research company reported $1.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.05. Edwards Lifesciences had a return on equity of 31.25% and a net margin of 18.29%. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the firm earned $1.24 earnings per share. The business’s revenue was up 15.2% compared to the same quarter last year. Sell-side analysts anticipate that Edwards Lifesciences Corp will post 5.34 earnings per share for the current fiscal year.

In other news, CFO Scott B. Ullem sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $225.74, for a total transaction of $1,693,050.00. Following the transaction, the chief financial officer now directly owns 21,064 shares of the company’s stock, valued at $4,754,987.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Catherine M. Szyman sold 1,152 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $191.70, for a total value of $220,838.40. Following the transaction, the vice president now directly owns 19,162 shares in the company, valued at $3,673,355.40. The disclosure for this sale can be found here. Insiders have sold 181,541 shares of company stock worth $38,060,211 over the last three months. Insiders own 1.63% of the company’s stock.

A number of brokerages have recently issued reports on EW. Bank of America reiterated a “buy” rating and set a $225.00 price target (up previously from $215.00) on shares of Edwards Lifesciences in a research report on Wednesday, July 24th. Zacks Investment Research upgraded Edwards Lifesciences from a “hold” rating to a “buy” rating and set a $232.00 price target for the company in a research report on Thursday, July 25th. BMO Capital Markets lifted their price target on Edwards Lifesciences from $204.00 to $224.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Wells Fargo & Co lifted their price target on Edwards Lifesciences from $220.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. Finally, Credit Suisse Group lifted their price target on Edwards Lifesciences from $221.00 to $226.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company’s stock. Edwards Lifesciences currently has a consensus rating of “Buy” and an average target price of $206.32.

Edwards Lifesciences Profile

Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States and internationally. It offers transcatheter heart valve therapy products comprising transcatheter aortic valve replacement, and transcatheter mitral and tricuspid therapies for the nonsurgical replacement of heart valves.

Further Reading: Return on Investment (ROI)

Institutional Ownership by Quarter for Edwards Lifesciences (NYSE:EW)

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