Magnolia Capital Advisors LLC Takes Position in Edwards Lifesciences Co. (NYSE:EW)

Magnolia Capital Advisors LLC bought a new stake in shares of Edwards Lifesciences Co. (NYSE:EW) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,911 shares of the medical research company’s stock, valued at approximately $511,000.

Several other hedge funds have also modified their holdings of EW. SG Americas Securities LLC lifted its stake in Edwards Lifesciences by 4.9% in the 3rd quarter. SG Americas Securities LLC now owns 37,480 shares of the medical research company’s stock worth $2,597,000 after acquiring an additional 1,734 shares in the last quarter. Flagship Harbor Advisors LLC increased its holdings in shares of Edwards Lifesciences by 9.7% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 10,266 shares of the medical research company’s stock valued at $711,000 after acquiring an additional 907 shares during the last quarter. Caprock Group LLC grew its holdings in Edwards Lifesciences by 4.8% in the 3rd quarter. Caprock Group LLC now owns 8,611 shares of the medical research company’s stock valued at $597,000 after buying an additional 392 shares during the last quarter. RDA Financial Network grew its holdings in Edwards Lifesciences by 4.7% in the 3rd quarter. RDA Financial Network now owns 20,758 shares of the medical research company’s stock valued at $1,438,000 after buying an additional 928 shares during the last quarter. Finally, Oak Thistle LLC acquired a new stake in Edwards Lifesciences in the 3rd quarter valued at approximately $700,000. 79.46% of the stock is owned by hedge funds and other institutional investors.

Edwards Lifesciences Price Performance

EW stock traded up $0.87 during midday trading on Wednesday, reaching $88.62. 3,234,911 shares of the company’s stock traded hands, compared to its average volume of 3,823,988. The company has a 50-day simple moving average of $90.23 and a two-hundred day simple moving average of $78.69. Edwards Lifesciences Co. has a 1-year low of $60.57 and a 1-year high of $96.12. The company has a market cap of $53.34 billion, a price-to-earnings ratio of 38.53, a PEG ratio of 4.31 and a beta of 1.05. The company has a quick ratio of 2.40, a current ratio of 3.38 and a debt-to-equity ratio of 0.09.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Tuesday, February 6th. The medical research company reported $0.64 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.64. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Edwards Lifesciences had a return on equity of 23.56% and a net margin of 23.35%. The business’s revenue was up 13.3% on a year-over-year basis. During the same period last year, the firm posted $0.64 EPS. On average, analysts anticipate that Edwards Lifesciences Co. will post 2.76 earnings per share for the current year.

Insider Activity

In other news, VP Jean-Luc M. Lemercier sold 14,400 shares of Edwards Lifesciences stock in a transaction on Monday, April 8th. The stock was sold at an average price of $92.32, for a total value of $1,329,408.00. Following the completion of the sale, the vice president now directly owns 173,849 shares of the company’s stock, valued at approximately $16,049,739.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Jean-Luc M. Lemercier sold 14,400 shares of Edwards Lifesciences stock in a transaction on Monday, April 8th. The stock was sold at an average price of $92.32, for a total transaction of $1,329,408.00. Following the completion of the sale, the vice president now directly owns 173,849 shares of the company’s stock, valued at $16,049,739.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Scott B. Ullem sold 7,255 shares of Edwards Lifesciences stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $78.29, for a total value of $567,993.95. Following the sale, the chief financial officer now directly owns 19,248 shares of the company’s stock, valued at $1,506,925.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 194,004 shares of company stock valued at $17,166,254. Company insiders own 1.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Stifel Nicolaus raised their price objective on Edwards Lifesciences from $70.00 to $83.00 and gave the stock a “hold” rating in a research report on Wednesday, February 7th. Citigroup raised their price objective on Edwards Lifesciences from $90.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. Wells Fargo & Company upgraded Edwards Lifesciences from an “equal weight” rating to an “overweight” rating and set a $94.00 price objective for the company in a research report on Friday, February 2nd. Evercore ISI raised their price objective on Edwards Lifesciences from $86.00 to $92.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. Finally, Bank of America upgraded Edwards Lifesciences from a “neutral” rating to a “buy” rating in a research report on Thursday, March 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $91.73.

Edwards Lifesciences Profile

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.