Kovack Advisors Inc. Invests $218,000 in Edwards Lifesciences Corp (EW) Stock

Kovack Advisors Inc. bought a new stake in Edwards Lifesciences Corp (NYSE:EW) during the 4th quarter, Holdings Channel reports. The fund bought 1,934 shares of the medical research company’s stock, valued at approximately $218,000.

Several other large investors have also recently modified their holdings of the company. Advisory Services Network LLC boosted its holdings in Edwards Lifesciences by 0.9% during the second quarter. Advisory Services Network LLC now owns 12,565 shares of the medical research company’s stock worth $1,486,000 after buying an additional 112 shares in the last quarter. Kingfisher Capital LLC boosted its holdings in Edwards Lifesciences by 1.9% during the second quarter. Kingfisher Capital LLC now owns 8,454 shares of the medical research company’s stock worth $1,000,000 after buying an additional 159 shares in the last quarter. Aspen Investment Management Inc boosted its holdings in Edwards Lifesciences by 10.2% during the second quarter. Aspen Investment Management Inc now owns 4,038 shares of the medical research company’s stock worth $477,000 after buying an additional 375 shares in the last quarter. Resources Investment Advisors Inc. boosted its holdings in Edwards Lifesciences by 66.0% during the fourth quarter. Resources Investment Advisors Inc. now owns 1,170 shares of the medical research company’s stock worth $132,000 after buying an additional 465 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in Edwards Lifesciences by 10.4% during the third quarter. Pacer Advisors Inc. now owns 5,312 shares of the medical research company’s stock worth $581,000 after buying an additional 499 shares in the last quarter. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Edwards Lifesciences Corp (EW) opened at $131.83 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.81 and a quick ratio of 1.41. The firm has a market cap of $27,897.85, a P/E ratio of 45.77, a PEG ratio of 2.01 and a beta of 0.63. Edwards Lifesciences Corp has a 52-week low of $88.67 and a 52-week high of $138.48.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data on Thursday, February 1st. The medical research company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.03. The business had revenue of $888.50 million during the quarter, compared to analyst estimates of $868.45 million. Edwards Lifesciences had a net margin of 18.11% and a return on equity of 27.69%. The company’s revenue was up 15.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.75 earnings per share. analysts forecast that Edwards Lifesciences Corp will post 4.42 EPS for the current year.

Edwards Lifesciences declared that its Board of Directors has approved a stock repurchase program on Thursday, December 7th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the medical research company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

In related news, CEO Michael A. Mussallem sold 32,900 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $106.86, for a total transaction of $3,515,694.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Larry L. Wood sold 18,960 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $104.76, for a total transaction of $1,986,249.60. The disclosure for this sale can be found here. In the last three months, insiders sold 164,920 shares of company stock valued at $18,578,747. Company insiders own 2.13% of the company’s stock.

A number of analysts recently commented on the stock. Morgan Stanley boosted their price objective on shares of Edwards Lifesciences from $130.00 to $138.00 and gave the stock an “overweight” rating in a report on Friday. Barclays boosted their price objective on shares of Edwards Lifesciences from $135.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday. JMP Securities boosted their price objective on shares of Edwards Lifesciences from $135.00 to $140.00 and gave the stock a “market outperform” rating in a report on Friday. Stifel Nicolaus reissued a “buy” rating and set a $155.00 price objective on shares of Edwards Lifesciences in a report on Friday. Finally, Guggenheim reissued a “buy” rating and set a $162.00 price objective on shares of Edwards Lifesciences in a report on Friday. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Edwards Lifesciences currently has an average rating of “Buy” and a consensus price target of $139.25.

TRADEMARK VIOLATION NOTICE: This article was reported by Stock Observer and is the sole property of of Stock Observer. If you are viewing this article on another website, it was copied illegally and reposted in violation of US & international copyright & trademark law. The correct version of this article can be viewed at https://www.thestockobserver.com/2018/02/05/kovack-advisors-inc-invests-218000-in-edwards-lifesciences-corp-ew-stock.html.

Edwards Lifesciences Profile

Edwards Lifesciences Corporation is a manufacturer of heart valve systems and repair products used to replace or repair a patient’s diseased or defective heart valve. The Company is engaged in patient-focused innovations for structural heart disease and critical care monitoring. Its segments include United States, Europe, Japan and Rest of World.

Want to see what other hedge funds are holding EW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Edwards Lifesciences Corp (NYSE:EW).

Institutional Ownership by Quarter for Edwards Lifesciences (NYSE:EW)

Receive News & Ratings for Edwards Lifesciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edwards Lifesciences and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply