Aigen Investment Management LP Makes New Investment in Edwards Lifesciences Corporation (NYSE:EW)

Key Points

• Aigen Investment Management LP has made a new investment of approximately $1.75 million in Edwards Lifesciences Corporation, acquiring 24,090 shares during the first quarter.
• Insider activity at Edwards Lifesciences includes significant sales by executives, with VP Daniel J. Lippis selling 4,114 shares, resulting in a 15.75% reduction in his ownership.
• The company reported earnings per share of $0.67 for the last quarter, exceeding analysts' expectations, with a year-over-year revenue increase of 11.9%.

Aigen Investment Management LP acquired a new position in Edwards Lifesciences Corporation (NYSE:EW - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 24,090 shares of the medical research company's stock, valued at approximately $1,746,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vega Investment Solutions bought a new stake in Edwards Lifesciences during the 4th quarter worth approximately $27,000. Global X Japan Co. Ltd. boosted its stake in Edwards Lifesciences by 116.1% during the first quarter. Global X Japan Co. Ltd. now owns 402 shares of the medical research company's stock worth $29,000 after acquiring an additional 216 shares in the last quarter. Tradewinds Capital Management LLC boosted its stake in Edwards Lifesciences by 102.5% during the first quarter. Tradewinds Capital Management LLC now owns 405 shares of the medical research company's stock worth $29,000 after acquiring an additional 205 shares in the last quarter. Rossby Financial LCC bought a new position in Edwards Lifesciences during the first quarter worth $29,000. Finally, Costello Asset Management INC acquired a new position in Edwards Lifesciences during the first quarter worth $29,000. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Edwards Lifesciences Stock Up 1.0%

Edwards Lifesciences stock traded up $0.76 during mid-day trading on Wednesday, hitting $77.69. The company had a trading volume of 3,477,205 shares, compared to its average volume of 4,528,733. The stock has a market cap of $45.61 billion, a price-to-earnings ratio of 11.18, a PEG ratio of 3.77 and a beta of 1.08. Edwards Lifesciences Corporation has a 1 year low of $64.00 and a 1 year high of $83.00. The company has a quick ratio of 3.87, a current ratio of 4.68 and a debt-to-equity ratio of 0.06. The business has a fifty day moving average of $77.11 and a 200 day moving average of $74.26.

Edwards Lifesciences (NYSE:EW - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The medical research company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.05. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.49 billion. Edwards Lifesciences had a return on equity of 15.01% and a net margin of 72.96%. The company's revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.70 earnings per share. On average, sell-side analysts expect that Edwards Lifesciences Corporation will post 2.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, VP Daniel J. Lippis sold 4,114 shares of Edwards Lifesciences stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $79.46, for a total transaction of $326,898.44. Following the completion of the sale, the vice president owned 22,002 shares in the company, valued at approximately $1,748,278.92. This trade represents a 15.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Larry L. Wood sold 8,950 shares of Edwards Lifesciences stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $75.23, for a total value of $673,308.50. Following the sale, the insider owned 206,900 shares of the company's stock, valued at approximately $15,565,087. This represents a 4.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,134 shares of company stock worth $1,311,745 in the last ninety days. 0.34% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on EW shares. Robert W. Baird increased their target price on shares of Edwards Lifesciences from $78.00 to $79.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Barclays lifted their target price on shares of Edwards Lifesciences from $90.00 to $95.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Wall Street Zen raised shares of Edwards Lifesciences from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Daiwa America raised shares of Edwards Lifesciences from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 29th. Finally, William Blair upgraded shares of Edwards Lifesciences to a "strong-buy" rating in a research report on Friday, July 25th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $85.90.

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.