Point72 Hong Kong Ltd Invests $66,000 in Edwards Lifesciences Co. (NYSE:EW)

Point72 Hong Kong Ltd bought a new position in Edwards Lifesciences Co. (NYSE:EW) in the third quarter, Holdings Channel.com reports. The firm bought 1,005 shares of the medical research company’s stock, valued at approximately $66,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its stake in shares of Edwards Lifesciences by 4.3% during the second quarter. Bank of New York Mellon Corp now owns 19,782,909 shares of the medical research company’s stock valued at $1,827,347,000 after acquiring an additional 809,605 shares during the last quarter. Fisher Asset Management LLC increased its holdings in Edwards Lifesciences by 9.8% in the third quarter. Fisher Asset Management LLC now owns 9,078,311 shares of the medical research company’s stock worth $599,078,000 after purchasing an additional 806,705 shares in the last quarter. AustralianSuper Pty Ltd boosted its stake in Edwards Lifesciences by 17.8% during the third quarter. AustralianSuper Pty Ltd now owns 3,273,416 shares of the medical research company’s stock worth $216,013,000 after acquiring an additional 494,604 shares in the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund boosted its position in shares of Edwards Lifesciences by 422.3% during the 3rd quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 450,233 shares of the medical research company’s stock worth $29,711,000 after purchasing an additional 364,030 shares in the last quarter. Finally, AIA Group Ltd increased its holdings in shares of Edwards Lifesciences by 91.7% during the third quarter. AIA Group Ltd now owns 749,524 shares of the medical research company’s stock valued at $49,461,000 after acquiring an additional 358,556 shares in the last quarter. Institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Price Performance

EW opened at $70.19 on Wednesday. The firm has a market cap of $41.40 billion, a PE ratio of 10.13, a P/E/G ratio of 3.97 and a beta of 1.12. The stock has a 50-day moving average price of $68.24 and a 200-day moving average price of $74.78. Edwards Lifesciences Co. has a 1 year low of $58.93 and a 1 year high of $96.12. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Thursday, October 24th. The medical research company reported $0.67 EPS for the quarter, meeting 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 in the prior year, the company posted $0.59 earnings per share. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. Sell-side analysts predict that Edwards Lifesciences Co. will post 2.57 earnings per share for the current fiscal year.

Insider Transactions at Edwards Lifesciences

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $65.57, for a total transaction of $327,850.00. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Larry L. Wood sold 25,000 shares of Edwards Lifesciences stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $65.91, for a total transaction of $1,647,750.00. Following the completion of the sale, the insider now directly owns 198,526 shares of the company’s stock, valued at approximately $13,084,848.66. This trade represents a 11.18 % 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 over the last quarter. 1.27% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on EW. Canaccord Genuity Group dropped their target price on Edwards Lifesciences from $66.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, October 25th. Barclays boosted their target price on Edwards Lifesciences from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday. Wells Fargo & Company cut their price objective on shares of Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Monday, September 9th. Royal Bank of Canada upped their target price on shares of Edwards Lifesciences from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. Finally, Evercore ISI cut their price objective on Edwards Lifesciences from $76.00 to $70.00 and set an “in-line” rating for the company in a report on Tuesday, October 1st. Seventeen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $77.25.

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.