Mirabella Financial Services LLP Invests $5.93 Million in Edwards Lifesciences Co. (NYSE:EW)

Mirabella Financial Services LLP acquired a new stake in Edwards Lifesciences Co. (NYSE:EW) in the third quarter, HoldingsChannel.com reports. The firm acquired 89,849 shares of the medical research company’s stock, valued at approximately $5,929,000.

Several other institutional investors have also recently added to or reduced their stakes in EW. Cetera Advisors LLC boosted its holdings in shares of Edwards Lifesciences by 175.1% in the 1st quarter. Cetera Advisors LLC now owns 38,090 shares of the medical research company’s stock valued at $3,640,000 after purchasing an additional 24,242 shares during the last quarter. BDF Gestion purchased a new position in shares of Edwards Lifesciences in the 2nd quarter worth about $5,148,000. Tidal Investments LLC grew its holdings in shares of Edwards Lifesciences by 54.7% during the 1st quarter. Tidal Investments LLC now owns 30,245 shares of the medical research company’s stock worth $2,890,000 after purchasing an additional 10,700 shares during the period. Raymond James & Associates increased its position in Edwards Lifesciences by 2.8% during the 2nd quarter. Raymond James & Associates now owns 1,825,230 shares of the medical research company’s stock worth $168,597,000 after purchasing an additional 50,124 shares in the last quarter. Finally, AIA Group Ltd raised its holdings in Edwards Lifesciences by 91.7% in the third quarter. AIA Group Ltd now owns 749,524 shares of the medical research company’s stock valued at $49,461,000 after buying an additional 358,556 shares during the period. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on EW. JPMorgan Chase & Co. increased their price objective on shares of Edwards Lifesciences from $72.00 to $78.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Daiwa America lowered Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $70.00 target price on shares of Edwards Lifesciences in a research report on Friday, October 11th. Robert W. Baird dropped their target price on Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Finally, Wolfe Research raised shares of Edwards Lifesciences from an “underperform” rating to a “peer perform” rating in a research report on Monday, July 29th. Seventeen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $75.67.

Insider Activity at Edwards Lifesciences

In related news, insider Larry L. Wood sold 25,000 shares of the firm’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 value of $1,647,750.00. Following the sale, the insider now directly owns 198,526 shares in the company, valued at $13,084,848.66. This trade represents a 11.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $69.51, for a total value of $347,550.00. Following the completion of the transaction, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,262,521.36. The trade was a 9.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,000 shares of company stock worth $2,657,000 in the last 90 days. 1.27% of the stock is currently owned by company insiders.

Edwards Lifesciences Stock Performance

EW stock opened at $70.64 on Monday. The stock’s 50 day simple moving average is $67.70 and its 200 day simple moving average is $75.59. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $96.12. The firm has a market cap of $41.66 billion, a P/E ratio of 10.17, a P/E/G ratio of 3.96 and a beta of 1.12. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06.

Edwards Lifesciences (NYSE:EW) last issued its earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share (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 firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter last year, the company posted $0.59 earnings per share. Edwards Lifesciences’s revenue was up 8.9% on a year-over-year basis. As a group, equities research analysts predict that Edwards Lifesciences Co. will post 2.57 EPS for the current year.

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.