Fisher Funds Management LTD Invests $70.70 Million in Edwards Lifesciences Co. (NYSE:EW)

Fisher Funds Management LTD purchased a new stake in shares of Edwards Lifesciences Co. (NYSE:EW) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 955,100 shares of the medical research company’s stock, valued at approximately $70,701,000. Edwards Lifesciences makes up 1.7% of Fisher Funds Management LTD’s investment portfolio, making the stock its 18th largest position. Fisher Funds Management LTD owned approximately 0.16% of Edwards Lifesciences at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alpha Financial Partners LLC purchased a new stake in shares of Edwards Lifesciences during the third quarter worth about $693,000. Eastern Bank purchased a new stake in Edwards Lifesciences during the 3rd quarter worth approximately $98,000. International Assets Investment Management LLC increased its holdings in Edwards Lifesciences by 10,990.6% during the 3rd quarter. International Assets Investment Management LLC now owns 163,919 shares of the medical research company’s stock worth $10,817,000 after purchasing an additional 162,441 shares during the last quarter. Mount Yale Investment Advisors LLC boosted its stake in shares of Edwards Lifesciences by 41.0% during the 3rd quarter. Mount Yale Investment Advisors LLC now owns 8,401 shares of the medical research company’s stock valued at $554,000 after buying an additional 2,441 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC boosted its stake in shares of Edwards Lifesciences by 8.1% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 21,649 shares of the medical research company’s stock valued at $1,429,000 after buying an additional 1,615 shares during the last quarter. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Insider Buying and Selling

In other news, Director Steven R. Loranger sold 5,739 shares of the business’s stock in a transaction 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 sale, the director now owns 60,372 shares of the company’s stock, valued at approximately $4,613,628.24. The trade was a 8.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Scott B. Ullem sold 11,250 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $75.76, for a total value of $852,300.00. Following the completion of the sale, the chief financial officer now owns 30,561 shares of the company’s stock, valued at approximately $2,315,301.36. This trade represents a 26.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,489 shares of company stock valued at $2,002,829 over the last 90 days. 1.29% of the stock is currently owned by company insiders.

Edwards Lifesciences Price Performance

Shares of NYSE:EW opened at $73.25 on Friday. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. The firm’s 50 day moving average is $72.85 and its two-hundred day moving average is $70.00. The firm has a market capitalization of $43.20 billion, a P/E ratio of 10.51, a PEG ratio of 4.82 and a beta of 1.10. Edwards Lifesciences Co. has a 52 week low of $58.93 and a 52 week high of $96.12.

Edwards Lifesciences (NYSE:EW) last posted its earnings results on Tuesday, February 11th. The medical research company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.55 by $0.04. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. Analysts anticipate that Edwards Lifesciences Co. will post 2.45 earnings per share for the current year.

Analysts Set New Price Targets

EW has been the topic of several recent analyst reports. Evercore ISI cut their price target on shares of Edwards Lifesciences from $75.00 to $73.00 and set an “in-line” rating on the stock in a report on Wednesday, February 12th. Sanford C. Bernstein upgraded shares of Edwards Lifesciences from a “strong sell” rating to a “hold” rating in a research note on Monday, October 28th. Royal Bank of Canada reiterated an “outperform” rating and issued a $85.00 price target on shares of Edwards Lifesciences in a research note on Wednesday, February 12th. Daiwa America cut Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Citigroup increased their target price on Edwards Lifesciences from $81.00 to $83.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $79.95.

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.