Mirae Asset Global Investments Co. Ltd. Buys 343,152 Shares of Edwards Lifesciences Corporation $EW

Mirae Asset Global Investments Co. Ltd. bought a new stake in Edwards Lifesciences Corporation (NYSE:EW) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 343,152 shares of the medical research company’s stock, valued at approximately $29,621,000. Mirae Asset Global Investments Co. Ltd. owned approximately 0.06% of Edwards Lifesciences as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in EW. ProShare Advisors LLC boosted its holdings in Edwards Lifesciences by 1.8% in the 3rd quarter. ProShare Advisors LLC now owns 95,119 shares of the medical research company’s stock valued at $8,211,000 after purchasing an additional 1,719 shares in the last quarter. Vise Technologies Inc. purchased a new position in shares of Edwards Lifesciences during the 3rd quarter worth approximately $1,201,000. MGO One Seven LLC lifted its holdings in shares of Edwards Lifesciences by 6.1% in the 3rd quarter. MGO One Seven LLC now owns 37,772 shares of the medical research company’s stock valued at $3,260,000 after buying an additional 2,161 shares during the period. State of Wyoming acquired a new stake in shares of Edwards Lifesciences in the 3rd quarter valued at approximately $131,000. Finally, Peak Financial Advisors LLC boosted its stake in shares of Edwards Lifesciences by 6.6% in the third quarter. Peak Financial Advisors LLC now owns 42,772 shares of the medical research company’s stock valued at $3,692,000 after buying an additional 2,641 shares in the last quarter. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Key Edwards Lifesciences News

Here are the key news stories impacting Edwards Lifesciences this week:

• Positive Sentiment: The PROGRESS trial found Edwards’ transcatheter aortic valve replacement (TAVR) was superior to clinical surveillance in moderate aortic stenosis patients with at-risk features, reducing the two-year composite of death or heart-failure events. The results support using TAVR earlier in the disease course and could expand the addressable patient population beyond severe aortic stenosis. PROGRESS Trial results
• Positive Sentiment: The CLASP II TR trial showed Edwards’ PASCAL system for tricuspid repair outperformed medical therapy alone on its six-month primary endpoint. The system also produced significant and sustained reductions in tricuspid regurgitation and improvements in patients’ quality of life through one year, strengthening the case for Edwards’ transcatheter tricuspid-repair franchise. CLASP II TR trial results
• Positive Sentiment: Bank of America analyst Travis Steed revisited Edwards following the PROGRESS data, highlighting the trial’s potential to support TAVR expansion in selected moderate aortic stenosis patients. Analyst attention reinforces the potential commercial significance of the results. Bank of America analyst coverage
• Neutral Sentiment: The longer-term stock impact will depend on regulatory decisions, guideline changes, reimbursement and physician adoption. The trial results are encouraging, but expanded indications would require additional execution before translating into revenue.

Edwards Lifesciences Trading Up 1.5%

Shares of EW opened at $93.38 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.52 and a quick ratio of 3.77. The firm has a 50 day simple moving average of $88.22 and a 200-day simple moving average of $85.47. Edwards Lifesciences Corporation has a 1-year low of $74.66 and a 1-year high of $96.29. The stock has a market cap of $53.77 billion, a price-to-earnings ratio of 53.67, a price-to-earnings-growth ratio of 2.40 and a beta of 0.87.

Analysts Set New Price Targets

A number of research analysts recently weighed in on EW shares. Leerink Partners raised Edwards Lifesciences from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $87.00 to $101.00 in a report on Friday, July 24th. Citigroup reissued a “buy” rating and issued a $101.00 target price (up from $96.00) on shares of Edwards Lifesciences in a report on Monday, October 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Edwards Lifesciences in a report on Thursday, October 15th. Argus boosted their target price on shares of Edwards Lifesciences from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, August 21st. Finally, Jefferies Financial Group upped their target price on Edwards Lifesciences from $102.00 to $105.00 and gave the company a “buy” rating in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $101.16.

Insider Activity at Edwards Lifesciences

In other Edwards Lifesciences news, VP Daniel Lippis sold 619 shares of the stock in a transaction on Thursday, October 8th. The stock was sold at an average price of $85.65, for a total transaction of $53,017.35. Following the sale, the vice president owned 40,034 shares in the company, valued at approximately $3,428,912.10. This represents a 1.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Andrew M. Dahl sold 544 shares of the firm’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $91.06, for a total value of $49,536.64. Following the transaction, the senior vice president directly owned 14,868 shares of the company’s stock, valued at $1,353,880.08. The trade was a 3.53% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 5,045 shares of company stock valued at $451,596. 0.31% of the stock is owned by corporate insiders.

Edwards Lifesciences Profile

Edwards Lifesciences Corporation (NYSE:EW) is a medical technology company focused on therapies for structural heart disease and critical care. The company develops and manufactures products designed to treat conditions affecting the heart’s valves, including aortic, mitral and tricuspid valve disorders.

Its portfolio includes transcatheter aortic valve replacement systems, transcatheter mitral and tricuspid therapies, surgical heart valves and valve-repair technologies. Edwards also provides related delivery systems and other medical devices used by physicians in minimally invasive and open-heart procedures.

Founded in 1958 by Miles Lowell Edwards, the company is headquartered in Irvine, California, and serves healthcare providers and patients internationally.