Edwards Lifesciences Corporation (EW) Position Maintained by Torch Wealth Management LLC
Torch Wealth Management LLC continued to hold its position in shares of Edwards Lifesciences Corporation (NYSE:EW) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,380 shares of the medical research company’s stock at the end of the second quarter. Edwards Lifesciences Corporation makes up about 1.4% of Torch Wealth Management LLC’s investment portfolio, making the stock its 25th largest position. Torch Wealth Management LLC’s holdings in Edwards Lifesciences Corporation were worth $2,055,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of EW. GSA Capital Partners LLP raised its position in shares of Edwards Lifesciences Corporation by 43.5% in the fourth quarter. GSA Capital Partners LLP now owns 3,354 shares of the medical research company’s stock worth $314,000 after buying an additional 1,016 shares during the last quarter. M Holdings Securities Inc. purchased a new position in shares of Edwards Lifesciences Corporation during the fourth quarter worth about $381,000. Kentucky Retirement Systems purchased a new position in shares of Edwards Lifesciences Corporation during the fourth quarter worth about $1,454,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Edwards Lifesciences Corporation during the fourth quarter worth about $649,000. Finally, Macquarie Group Ltd. raised its position in shares of Edwards Lifesciences Corporation by 56.9% in the fourth quarter. Macquarie Group Ltd. now owns 149,380 shares of the medical research company’s stock worth $13,996,000 after buying an additional 54,196 shares during the last quarter. 84.15% of the stock is owned by hedge funds and other institutional investors.
Shares of Edwards Lifesciences Corporation (NYSE:EW) opened at 116.26 on Thursday. The firm has a market capitalization of $24.55 billion, a P/E ratio of 35.26 and a beta of 0.63. The stock has a 50 day moving average price of $117.20 and a 200 day moving average price of $105.15. Edwards Lifesciences Corporation has a 12 month low of $81.12 and a 12 month high of $121.75.
Edwards Lifesciences Corporation (NYSE:EW) last issued its quarterly earnings data on Wednesday, July 26th. The medical research company reported $1.08 EPS for the quarter, beating the consensus estimate of $0.88 by $0.20. The company had revenue of $842 million during the quarter, compared to analysts’ expectations of $839.16 million. Edwards Lifesciences Corporation had a net margin of 22.16% and a return on equity of 27.17%. Edwards Lifesciences Corporation’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.76 earnings per share. On average, analysts expect that Edwards Lifesciences Corporation will post $3.78 earnings per share for the current year.
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EW has been the subject of a number of research reports. Stifel Nicolaus increased their price target on Edwards Lifesciences Corporation from $114.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, April 26th. Royal Bank Of Canada increased their price objective on Edwards Lifesciences Corporation from $116.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, April 26th. Jefferies Group LLC reiterated a “buy” rating on shares of Edwards Lifesciences Corporation in a research report on Wednesday, April 26th. Vetr downgraded Edwards Lifesciences Corporation from a “strong-buy” rating to a “hold” rating and set a $110.88 price objective for the company. in a research report on Wednesday, April 26th. Finally, Goldman Sachs Group, Inc. (The) started coverage on Edwards Lifesciences Corporation in a research report on Tuesday, May 16th. They set a “conviction-buy” rating and a $138.00 price objective for the company. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. Edwards Lifesciences Corporation currently has a consensus rating of “Buy” and an average target price of $121.13.
In other Edwards Lifesciences Corporation news, CEO Michael A. Mussallem sold 32,900 shares of the business’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $118.05, for a total value of $3,883,845.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Patrick B. Verguet sold 11,500 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $111.64, for a total transaction of $1,283,860.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 150,512 shares of company stock valued at $17,360,159. 2.13% of the stock is owned by corporate insiders.
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.
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