Genesee Capital Advisors LLC Invests $2.97 Million in Edwards Lifesciences Co. (NYSE:EW)

Genesee Capital Advisors LLC acquired a new position in Edwards Lifesciences Co. (NYSE:EW) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 26,246 shares of the medical research company’s stock, valued at approximately $2,971,000. Edwards Lifesciences makes up approximately 1.5% of Genesee Capital Advisors LLC’s investment portfolio, making the stock its 18th largest holding.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EW. Amundi bought a new position in shares of Edwards Lifesciences during the second quarter worth $494,011,000. FMR LLC boosted its position in shares of Edwards Lifesciences by 45.6% during the second quarter. FMR LLC now owns 7,536,198 shares of the medical research company’s stock worth $780,524,000 after acquiring an additional 2,358,602 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Edwards Lifesciences by 1,374.4% during the second quarter. First Trust Advisors LP now owns 1,814,049 shares of the medical research company’s stock worth $187,881,000 after acquiring an additional 1,691,011 shares during the last quarter. Capital International Investors boosted its position in shares of Edwards Lifesciences by 5.9% during the second quarter. Capital International Investors now owns 20,002,880 shares of the medical research company’s stock worth $2,071,700,000 after acquiring an additional 1,115,719 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its position in shares of Edwards Lifesciences by 151.2% during the second quarter. 1832 Asset Management L.P. now owns 1,590,440 shares of the medical research company’s stock worth $164,473,000 after acquiring an additional 957,333 shares during the last quarter. 80.60% of the stock is owned by hedge funds and other institutional investors.

In other Edwards Lifesciences news, VP Larry L. Wood sold 7,830 shares of the firm’s stock in a transaction dated Monday, October 11th. The shares were sold at an average price of $108.00, for a total transaction of $845,640.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Nicholas J. Valeriani purchased 1,500 shares of the stock in a transaction dated Wednesday, November 24th. The stock was purchased at an average price of $112.23 per share, for a total transaction of $168,345.00. The disclosure for this purchase can be found here. Insiders sold a total of 146,351 shares of company stock worth $16,970,864 in the last ninety days. 1.35% of the stock is currently owned by insiders.

EW has been the subject of several research reports. Wells Fargo & Company increased their price objective on shares of Edwards Lifesciences from $115.00 to $126.00 and gave the company an “equal weight” rating in a research report on Thursday, October 28th. Citigroup increased their price objective on shares of Edwards Lifesciences from $113.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday, October 28th. Oppenheimer increased their price objective on shares of Edwards Lifesciences from $97.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, July 30th. UBS Group increased their price objective on shares of Edwards Lifesciences from $98.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, July 30th. Finally, Canaccord Genuity increased their price objective on shares of Edwards Lifesciences from $103.00 to $124.00 and gave the company a “buy” rating in a research report on Friday, July 30th. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $117.84.

EW stock opened at $114.49 on Thursday. The company has a market capitalization of $71.48 billion, a PE ratio of 48.72, a P/E/G ratio of 3.69 and a beta of 1.01. Edwards Lifesciences Co. has a 12 month low of $78.44 and a 12 month high of $123.27. The firm’s 50-day moving average is $115.34 and its 200 day moving average is $109.68. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.64 and a quick ratio of 2.87.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Wednesday, October 27th. The medical research company reported $0.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.01. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.32 billion. Edwards Lifesciences had a net margin of 29.00% and a return on equity of 28.13%. The firm’s revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.51 EPS. Sell-side analysts forecast that Edwards Lifesciences Co. will post 2.27 EPS for the current fiscal year.

About Edwards Lifesciences

Edwards Lifesciences Corp. engages in the patient-focused medical innovations for heart disease and critical care monitoring. Its products are categorized into three areas: Transcatheter Heart Valves, Surgical Structural Heart, and Critical Care. The Transcatheter Heart Valves portfolio includes technologies designed to treat heart valve disease using catheter-based approaches as opposed to open surgical techniques.

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

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