Malaga Cove Capital LLC Has $753,000 Stake in Edwards Lifesciences Co. (NYSE:EW)

Malaga Cove Capital LLC increased its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 3.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 10,176 shares of the medical research company’s stock after purchasing an additional 339 shares during the quarter. Malaga Cove Capital LLC’s holdings in Edwards Lifesciences were worth $753,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Crowley Wealth Management Inc. bought a new position in Edwards Lifesciences during the fourth quarter worth about $26,000. Millstone Evans Group LLC acquired a new stake in shares of Edwards Lifesciences in the 4th quarter valued at approximately $29,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Edwards Lifesciences in the 4th quarter valued at approximately $30,000. Roble Belko & Company Inc bought a new position in Edwards Lifesciences during the 4th quarter worth approximately $46,000. Finally, Catalyst Capital Advisors LLC acquired a new position in Edwards Lifesciences during the fourth quarter valued at approximately $54,000. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on EW. Stifel Nicolaus upgraded shares of Edwards Lifesciences from a “hold” rating to a “buy” rating and increased their target price for the stock from $75.00 to $90.00 in a report on Thursday, January 30th. Royal Bank of Canada restated an “outperform” rating and issued a $85.00 price objective on shares of Edwards Lifesciences in a research report on Wednesday, February 12th. Evercore ISI dropped their price objective on Edwards Lifesciences from $75.00 to $73.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 12th. StockNews.com raised Edwards Lifesciences from a “hold” rating to a “buy” rating in a research note on Thursday, May 8th. Finally, Wolfe Research lowered Edwards Lifesciences from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $79.60.

Edwards Lifesciences Price Performance

NYSE EW opened at $75.48 on Wednesday. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $95.25. The firm’s 50 day moving average is $71.59 and its 200-day moving average is $71.58. The company has a market capitalization of $44.28 billion, a PE ratio of 10.83, a price-to-earnings-growth ratio of 4.82 and a beta of 1.12. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.04. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period in the previous year, the business earned $0.66 EPS. The company’s revenue was up 6.2% compared to the same quarter last year. Equities research analysts anticipate that Edwards Lifesciences Co. will post 2.45 earnings per share for the current fiscal year.

Insider Activity at Edwards Lifesciences

In other news, Director Steven R. Loranger sold 5,739 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $76.42, for a total value of $438,574.38. Following the completion of the sale, the director now owns 60,372 shares of the company’s stock, valued at approximately $4,613,628.24. This represents a 8.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Scott B. Ullem sold 11,250 shares of the firm’s stock in a transaction on Friday, May 9th. The shares were sold at an average price of $74.40, for a total transaction of $837,000.00. Following the completion of the transaction, the chief financial officer now directly owns 41,098 shares of the company’s stock, valued at $3,057,691.20. This represents a 21.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,681 shares of company stock valued at $6,492,703. 1.29% of the stock is owned by insiders.

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.