Bourgeon Capital Management LLC Acquires Shares of 3,149 Edwards Lifesciences Co. (NYSE:EW)

Bourgeon Capital Management LLC bought a new position in Edwards Lifesciences Co. (NYSE:EW) during the fourth quarter, HoldingsChannel.com reports. The fund bought 3,149 shares of the medical research company’s stock, valued at approximately $233,000.

Several other hedge funds have also recently made changes to their positions in EW. Wellington Management Group LLP lifted its holdings in shares of Edwards Lifesciences by 86.3% in the 3rd quarter. Wellington Management Group LLP now owns 31,532,725 shares of the medical research company’s stock worth $2,080,845,000 after acquiring an additional 14,610,123 shares during the last quarter. State Street Corp lifted its stake in Edwards Lifesciences by 1.0% in the third quarter. State Street Corp now owns 26,265,633 shares of the medical research company’s stock worth $1,733,270,000 after purchasing an additional 256,538 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Edwards Lifesciences by 2.2% during the third quarter. Geode Capital Management LLC now owns 13,521,147 shares of the medical research company’s stock valued at $889,050,000 after buying an additional 284,918 shares during the period. Fisher Asset Management LLC grew its stake in shares of Edwards Lifesciences by 9.8% during the third quarter. Fisher Asset Management LLC now owns 9,078,311 shares of the medical research company’s stock valued at $599,078,000 after buying an additional 806,705 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Edwards Lifesciences by 1.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,005,789 shares of the medical research company’s stock worth $396,322,000 after buying an additional 61,275 shares during the period. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

Edwards Lifesciences Price Performance

Shares of NYSE EW opened at $69.94 on Wednesday. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $96.12. The company has a market cap of $41.25 billion, a PE ratio of 10.09, a P/E/G ratio of 3.58 and a beta of 1.11. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46. The business has a 50-day simple moving average of $72.12 and a two-hundred day simple moving average of $71.03.

Edwards Lifesciences (NYSE:EW) last released 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. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. Edwards Lifesciences’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period last year, the business earned $0.59 EPS. As a group, equities analysts expect that Edwards Lifesciences Co. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction on 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 owns 46,936 shares in the company, valued at $3,077,593.52. This represents a 9.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Daniel J. Lippis sold 500 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $68.76, for a total transaction of $34,380.00. Following the completion of the sale, the vice president now directly owns 23,189 shares in the company, valued at approximately $1,594,475.64. The trade was a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,000 shares of company stock worth $2,195,180 in the last 90 days. Insiders own 1.27% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on EW. Citigroup upped their price objective on Edwards Lifesciences from $81.00 to $83.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Sanford C. Bernstein upgraded shares of Edwards Lifesciences from a “strong sell” rating to a “hold” rating in a report on Monday, October 28th. The Goldman Sachs Group upped their target price on shares of Edwards Lifesciences from $81.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Bank of America raised shares of Edwards Lifesciences from a “neutral” rating to a “buy” rating and lifted their price target for the company from $82.00 to $90.00 in a research note on Monday, December 16th. Finally, Stifel Nicolaus increased their price objective on Edwards Lifesciences from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $78.48.

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.