Leisure Capital Management Buys New Position in Edwards Lifesciences Corporation (EW)

Leisure Capital Management purchased a new stake in shares of Edwards Lifesciences Corporation (NYSE:EW) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 9,723 shares of the medical research company’s stock, valued at approximately $1,063,000.

A number of other hedge funds also recently made changes to their positions in EW. Bank of New York Mellon Corp grew its holdings in Edwards Lifesciences Corporation by 161.7% during the second quarter. Bank of New York Mellon Corp now owns 5,304,536 shares of the medical research company’s stock valued at $627,207,000 after purchasing an additional 3,277,726 shares during the last quarter. Egerton Capital UK LLP acquired a new position in Edwards Lifesciences Corporation during the second quarter valued at approximately $217,805,000. Koch Industries Inc. grew its holdings in Edwards Lifesciences Corporation by 28,363.1% during the second quarter. Koch Industries Inc. now owns 1,397,254 shares of the medical research company’s stock valued at $1,386,000 after purchasing an additional 1,392,345 shares during the last quarter. Wedgewood Partners Inc. acquired a new position in Edwards Lifesciences Corporation during the first quarter valued at approximately $106,963,000. Finally, Artisan Partners Limited Partnership boosted its position in shares of Edwards Lifesciences Corporation by 90.6% in the second quarter. Artisan Partners Limited Partnership now owns 1,278,532 shares of the medical research company’s stock valued at $151,174,000 after acquiring an additional 607,784 shares during the period. Institutional investors own 82.32% of the company’s stock.

Shares of Edwards Lifesciences Corporation (NYSE EW) traded down $0.93 during trading hours on Friday, hitting $103.85. The stock had a trading volume of 1,728,200 shares, compared to its average volume of 1,650,290. Edwards Lifesciences Corporation has a 52 week low of $81.12 and a 52 week high of $121.45. The firm has a market capitalization of $22,173.53, a price-to-earnings ratio of 29.02, a PEG ratio of 1.88 and a beta of 0.46. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.76 and a current ratio of 3.49.

Edwards Lifesciences Corporation (NYSE:EW) last announced its earnings results on Tuesday, October 24th. The medical research company reported $0.84 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.02). Edwards Lifesciences Corporation 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 last year, the business posted $0.68 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. analysts predict that Edwards Lifesciences Corporation will post 3.75 EPS for the current fiscal year.

In related news, VP Larry L. Wood sold 18,960 shares of Edwards Lifesciences Corporation stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $111.81, for a total value of $2,119,917.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael A. Mussallem sold 32,900 shares of Edwards Lifesciences Corporation stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $112.45, for a total value of $3,699,605.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 138,580 shares of company stock valued at $15,039,844. 2.13% of the stock is currently owned by corporate insiders.

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Several equities research analysts have recently weighed in on the company. Deutsche Bank AG reduced their price objective on Edwards Lifesciences Corporation from $122.00 to $115.00 and set a “hold” rating for the company in a research report on Thursday, October 26th. Morgan Stanley reduced their price objective on Edwards Lifesciences Corporation from $133.00 to $120.00 and set an “overweight” rating for the company in a research report on Thursday, October 26th. Barclays PLC reduced their price objective on Edwards Lifesciences Corporation from $120.00 to $118.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 25th. SunTrust Banks, Inc. set a $124.00 price objective on Edwards Lifesciences Corporation and gave the company a “buy” rating in a research report on Wednesday, October 25th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $135.00 price objective (down from $155.00) on shares of Edwards Lifesciences Corporation in a research report on Wednesday, October 25th. Seven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $125.17.

About Edwards Lifesciences Corporation

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.

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

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