Clarity Financial LLC Buys New Holdings in Edwards Lifesciences Co. (NYSE:EW)

Clarity Financial LLC bought a new stake in Edwards Lifesciences Co. (NYSE:EW) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,550 shares of the medical research company’s stock, valued at approximately $234,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Park Avenue Securities LLC increased its holdings in Edwards Lifesciences by 0.5% during the 2nd quarter. Park Avenue Securities LLC now owns 23,484 shares of the medical research company’s stock worth $2,169,000 after purchasing an additional 108 shares in the last quarter. City State Bank increased its holdings in Edwards Lifesciences by 16.5% during the 2nd quarter. City State Bank now owns 917 shares of the medical research company’s stock worth $85,000 after purchasing an additional 130 shares in the last quarter. Choreo LLC increased its holdings in Edwards Lifesciences by 4.1% during the 1st quarter. Choreo LLC now owns 3,840 shares of the medical research company’s stock worth $367,000 after purchasing an additional 153 shares in the last quarter. Stableford Capital II LLC increased its holdings in Edwards Lifesciences by 2.7% during the 2nd quarter. Stableford Capital II LLC now owns 6,104 shares of the medical research company’s stock worth $533,000 after purchasing an additional 159 shares in the last quarter. Finally, Purus Wealth Management LLC increased its holdings in Edwards Lifesciences by 5.2% during the 2nd quarter. Purus Wealth Management LLC now owns 3,212 shares of the medical research company’s stock worth $297,000 after purchasing an additional 160 shares in the last quarter. 79.46% of the stock is owned by institutional investors.

Edwards Lifesciences Stock Down 1.6 %

EW opened at $66.47 on Tuesday. The stock has a market cap of $40.04 billion, a PE ratio of 9.59, a P/E/G ratio of 3.80 and a beta of 1.12. The company has a quick ratio of 2.87, a current ratio of 3.71 and a debt-to-equity ratio of 0.08. Edwards Lifesciences Co. has a 52 week low of $58.93 and a 52 week high of $96.12. The business’s fifty day simple moving average is $67.87 and its 200 day simple moving average is $77.40.

Edwards Lifesciences (NYSE:EW) last released its earnings results on Thursday, October 24th. The medical research company reported $0.67 EPS for the quarter, meeting analysts’ consensus estimates of $0.67. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Edwards Lifesciences had a return on equity of 22.56% and a net margin of 70.82%. The firm’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 earnings per share. As a group, research analysts expect that Edwards Lifesciences Co. will post 2.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on the company. Jefferies Financial Group lowered Edwards Lifesciences from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $85.00 to $70.00 in a report on Wednesday, September 18th. Bank of America downgraded Edwards Lifesciences from a “buy” rating to a “neutral” rating and cut their target price for the stock from $105.00 to $75.00 in a research note on Thursday, July 25th. Wolfe Research upgraded Edwards Lifesciences from an “underperform” rating to a “peer perform” rating in a research note on Monday, July 29th. Oppenheimer restated an “outperform” rating and issued a $90.00 target price on shares of Edwards Lifesciences in a research note on Thursday, September 12th. Finally, StockNews.com downgraded Edwards Lifesciences from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Seventeen analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $75.67.

Insider Activity

In other news, VP Daveen Chopra sold 1,250 shares of Edwards Lifesciences stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total value of $87,437.50. Following the transaction, the vice president now owns 29,333 shares in the company, valued at approximately $2,051,843.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Daveen Chopra sold 1,250 shares of Edwards Lifesciences stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total value of $87,437.50. Following the transaction, the vice president now owns 29,333 shares in the company, valued at approximately $2,051,843.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $66.77, for a total value of $333,850.00. Following the completion of the transaction, the vice president now owns 46,936 shares in the company, valued at approximately $3,133,916.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,250 shares of company stock valued at $1,099,238. 1.27% of the stock is currently owned by insiders.

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.