Empowered Funds LLC Purchases 2,324 Shares of Edwards Lifesciences Co. (NYSE:EW)

Empowered Funds LLC raised its position in Edwards Lifesciences Co. (NYSE:EW) by 10.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,032 shares of the medical research company’s stock after acquiring an additional 2,324 shares during the quarter. Empowered Funds LLC’s holdings in Edwards Lifesciences were worth $1,586,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of EW. Crewe Advisors LLC purchased a new stake in Edwards Lifesciences in the 1st quarter worth approximately $28,000. First Community Trust NA purchased a new stake in Edwards Lifesciences in the second quarter worth $29,000. Webster Bank N. A. bought a new stake in Edwards Lifesciences in the second quarter valued at $39,000. Peoples Bank KS purchased a new position in Edwards Lifesciences during the 3rd quarter valued at $40,000. Finally, Versant Capital Management Inc raised its holdings in Edwards Lifesciences by 206.3% in the 2nd quarter. Versant Capital Management Inc now owns 484 shares of the medical research company’s stock worth $45,000 after purchasing an additional 326 shares in the last quarter. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on EW. Evercore ISI lowered their price objective on shares of Edwards Lifesciences from $76.00 to $70.00 and set an “in-line” rating for the company in a report on Tuesday, October 1st. Barclays lowered their target price on Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Monday, September 9th. Oppenheimer reaffirmed an “outperform” rating and issued a $90.00 price target on shares of Edwards Lifesciences in a research note on Thursday, September 12th. Wells Fargo & Company lowered their price objective on Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday, September 9th. Finally, Royal Bank of Canada reduced their target price on shares of Edwards Lifesciences from $85.00 to $75.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. Seventeen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $75.67.

Insiders Place Their Bets

In related news, insider Larry L. Wood sold 25,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $65.91, for a total value of $1,647,750.00. Following the completion of the transaction, the insider now owns 198,526 shares of the company’s stock, valued at approximately $13,084,848.66. This represents a 11.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $65.57, for a total value of $327,850.00. Following the sale, the vice president now directly owns 46,936 shares in the company, valued at approximately $3,077,593.52. This represents a 9.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,000 shares of company stock valued at $2,657,000. Insiders own 1.29% of the company’s stock.

Edwards Lifesciences Stock Up 1.5 %

EW opened at $70.56 on Friday. Edwards Lifesciences Co. has a twelve month low of $58.93 and a twelve month high of $96.12. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06. The firm has a 50 day moving average price of $67.66 and a 200-day moving average price of $75.83. The stock has a market capitalization of $41.61 billion, a price-to-earnings ratio of 10.18, a PEG ratio of 3.95 and a beta of 1.12.

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

Edwards Lifesciences Company 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.