Jaffetilchin Investment Partners LLC Takes Position in Edwards Lifesciences Corp (EW)

Jaffetilchin Investment Partners LLC bought a new stake in shares of Edwards Lifesciences Corp (NYSE:EW) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,950 shares of the medical research company’s stock, valued at approximately $332,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EW. Victory Capital Management Inc. raised its stake in shares of Edwards Lifesciences by 4.6% during the 3rd quarter. Victory Capital Management Inc. now owns 557,773 shares of the medical research company’s stock valued at $60,969,000 after buying an additional 24,399 shares during the last quarter. Korea Investment CORP grew its position in shares of Edwards Lifesciences by 144.5% during the 3rd quarter. Korea Investment CORP now owns 355,683 shares of the medical research company’s stock valued at $38,880,000 after acquiring an additional 210,200 shares during the period. Raymond James Financial Services Advisors Inc. grew its position in shares of Edwards Lifesciences by 53.3% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 11,991 shares of the medical research company’s stock valued at $1,418,000 after acquiring an additional 4,170 shares during the period. Nicholas Investment Partners LP acquired a new stake in shares of Edwards Lifesciences during the 2nd quarter valued at about $5,904,000. Finally, Oakbrook Investments LLC grew its position in shares of Edwards Lifesciences by 25.7% during the 3rd quarter. Oakbrook Investments LLC now owns 19,050 shares of the medical research company’s stock valued at $2,082,000 after acquiring an additional 3,900 shares during the period. 81.61% of the stock is currently owned by institutional investors and hedge funds.

In other news, CEO Michael A. Mussallem sold 32,900 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $100.93, for a total value of $3,320,597.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Schack Wesley W. Von sold 1,000 shares of the stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $104.15, for a total transaction of $104,150.00. Following the completion of the sale, the director now owns 2,622 shares in the company, valued at $273,081.30. The disclosure for this sale can be found here. Insiders have sold 197,820 shares of company stock worth $21,760,908 over the last 90 days. 2.13% of the stock is currently owned by company insiders.

Several equities research analysts recently issued reports on EW shares. Barclays reiterated an “equal weight” rating and issued a $120.00 price objective on shares of Edwards Lifesciences in a report on Saturday, September 30th. Evercore ISI began coverage on Edwards Lifesciences in a report on Wednesday, January 3rd. They issued an “outperform” rating and a $140.00 price objective on the stock. Canaccord Genuity reissued a “buy” rating and issued a $135.00 target price (down from $155.00) on shares of Edwards Lifesciences in a research note on Wednesday, October 25th. Zacks Investment Research lowered shares of Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Finally, Deutsche Bank reduced their price target on shares of Edwards Lifesciences from $122.00 to $115.00 and set a “hold” rating on the stock in a research report on Thursday, October 26th. Six analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $129.57.

Edwards Lifesciences Corp (NYSE EW) opened at $121.72 on Friday. The stock has a market cap of $25,760.00, a PE ratio of 35.38, a P/E/G ratio of 1.93 and a beta of 0.51. Edwards Lifesciences Corp has a 1-year low of $86.55 and a 1-year high of $122.93. The company has a current ratio of 3.49, a quick ratio of 2.76 and a debt-to-equity ratio of 0.33.

Edwards Lifesciences (NYSE:EW) last issued its earnings results on Tuesday, October 24th. The medical research company reported $0.84 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.02). Edwards Lifesciences had a return on equity of 27.22% and a net margin of 22.47%. The company had revenue of $821.50 million for the quarter, compared to analyst estimates of $833.85 million. During the same quarter in the previous year, the company posted $0.68 earnings per share. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. analysts predict that Edwards Lifesciences Corp will post 3.76 EPS for the current fiscal year.

Edwards Lifesciences announced that its Board of Directors has initiated a share buyback program on Thursday, December 7th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the medical research company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

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Edwards Lifesciences Profile

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.

Institutional Ownership by Quarter for Edwards Lifesciences (NYSE:EW)

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