Prospera Private Wealth LLC Makes New Investment in Edwards Lifesciences Co. (NYSE:EW)

Prospera Private Wealth LLC purchased a new stake in shares of Edwards Lifesciences Co. (NYSE:EW) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 492 shares of the medical research company’s stock, valued at approximately $32,000.

A number of other hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp boosted its holdings in Edwards Lifesciences by 4.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 19,782,909 shares of the medical research company’s stock worth $1,827,347,000 after buying an additional 809,605 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Edwards Lifesciences by 57.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,516,260 shares of the medical research company’s stock worth $622,695,000 after acquiring an additional 2,390,137 shares during the period. AustralianSuper Pty Ltd grew its position in shares of Edwards Lifesciences by 17.8% during the third quarter. AustralianSuper Pty Ltd now owns 3,273,416 shares of the medical research company’s stock worth $216,013,000 after purchasing an additional 494,604 shares in the last quarter. Ownership Capital B.V. raised its stake in Edwards Lifesciences by 1.2% during the 3rd quarter. Ownership Capital B.V. now owns 2,993,019 shares of the medical research company’s stock valued at $197,509,000 after purchasing an additional 34,597 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Edwards Lifesciences by 2.1% in the 2nd quarter. American Century Companies Inc. now owns 2,082,961 shares of the medical research company’s stock worth $192,403,000 after purchasing an additional 43,247 shares in the last quarter. 79.46% of the stock is currently owned by institutional investors.

Edwards Lifesciences Stock Up 0.2 %

Shares of EW opened at $70.49 on Friday. The firm has a fifty day moving average price of $67.70 and a 200-day moving average price of $75.73. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $41.58 billion, a P/E ratio of 10.17, a P/E/G ratio of 3.95 and a beta of 1.12. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $96.12.

Edwards Lifesciences (NYSE:EW) last issued its earnings results on Thursday, October 24th. The medical research company reported $0.67 EPS for the quarter, hitting analysts’ consensus estimates of $0.67. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same period in the prior year, the firm earned $0.59 EPS. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. Equities research analysts expect that Edwards Lifesciences Co. will post 2.57 earnings per share for the current year.

Analysts Set New Price Targets

EW has been the subject of a number of research analyst reports. Royal Bank of Canada cut their price objective on shares of Edwards Lifesciences from $85.00 to $75.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Jefferies Financial Group downgraded shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and reduced their price target for the company from $85.00 to $70.00 in a report on Wednesday, September 18th. JPMorgan Chase & Co. increased their price objective on shares of Edwards Lifesciences from $72.00 to $78.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Daiwa America cut Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, UBS Group decreased their target price on Edwards Lifesciences from $90.00 to $75.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 10th. Seventeen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $75.67.

Insiders Place Their Bets

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $69.51, for a total transaction of $347,550.00. Following the transaction, the vice president now owns 46,936 shares of the company’s stock, valued at approximately $3,262,521.36. This trade represents a 9.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Larry L. Wood sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $65.91, for a total transaction of $1,647,750.00. Following the completion of the sale, the insider now directly owns 198,526 shares of the company’s stock, valued at $13,084,848.66. The trade was a 11.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,000 shares of company stock worth $2,657,000 in the last ninety days. 1.29% of the stock is owned by company insiders.

About Edwards Lifesciences

Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of aortic heart valves under the Edwards SAPIEN family of valves system; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases under the PASCAL PRECISION and Cardioband names.