Meyer Handelman Co., an institutional investor, has increased its holdings in Edwards Lifesciences Co. (NYSE:EW) by 26.8% during the second quarter, according to the company’s filing with the Securities & Exchange Commission. The investor now owns 30,336 shares of Edwards Lifesciences’ stock after acquiring an additional 6,408 shares during the period. The value of Meyer Handelman Co.’s holdings in Edwards Lifesciences stood at $2,862,000 at the end of the most recent quarter.
Edwards Lifesciences recently released its quarterly earnings results on July 26th. In Q2, the medical research company reported earnings per share of $0.66, surpassing analysts’ consensus estimate by $0.01. Edwards Lifesciences achieved a net margin of 24.56% and a return on equity of 25.43%. Revenue for the quarter reached $1.53 billion, compared to the projected figure of $1.51 billion. This represents an increase of 11.4% in revenue compared to the same period last year.
Sell-side analysts predict that Edwards Lifesciences Co. will post earnings per share (EPS) of 2.55 for the current year on average.
In related news, CFO Scott B. Ullem sold 7,255 shares of Edwards Lifesciences stock on July 31st in a transaction worth approximately $611,959.25 at an average price of $84.35 per share. Following this sale, Ullem now holds 19,248 shares valued at $1,623,568.80 directly.
Furthermore, Director Michael A. Mussallem sold 29,350 shares of Edwards Lifesciences stock on July 5th at an average price of $90.78 per share for a total transaction value of $2,664,393.
Over the last three months, insiders have sold 203,709 shares of Edwards Lifesciences stock with a total value of $16,149,815. Insiders currently own 1.29% of the company’s stock.
For more information about these transactions and other relevant disclosures, please refer to the legal filings available at the Securities & Exchange Commission website or follow this hyperlink.
These developments suggest that institutional investors like Meyer Handelman Co. have shown confidence in Edwards Lifesciences and its financial performance. The recent positive quarterly earnings surpassing expectations highlight the strong position of Edwards Lifesciences in the medical research industry. Investors and market participants will continue to monitor future earnings reports and activities of corporate insiders for further insights into the company’s performance and prospects.
Institutional Investors and Hedge Funds Make Strategic Changes to Investment Portfolios, Including Edwards Lifesciences Holdings
At a time when the global economy is navigating through uncertainty and volatility, institutional investors and hedge funds are making strategic changes to their investment portfolios. One prominent example of this is observed in the recent adjustments made by several well-known financial entities to their positions in Edwards Lifesciences.
Bank Julius Baer & Co. Ltd Zurich, for instance, experienced an unparalleled growth of 98,836.3% during the second quarter with regards to its holdings in shares of Edwards Lifesciences. This brought their total ownership to a staggering 759,315,387 shares valued at $71,626,220,000. Similarly, Moneta Group Investment Advisors LLC witnessed a remarkable increase of 104,971.3% in their holdings during the fourth quarter, amassing a total of 15,399,249 shares worth $1,148,938,000.
In addition to these developments, Norges Bank acquired a new stake in Edwards Lifesciences valued at approximately $658,390,000 during the same period. Alliancebernstein L.P., on the other hand, increased their holdings by 27.5%, bringing their total ownership to 21 ,874 ,280 shares valued at $1 ,632 ,040 ,000. Two Sigma Advisers LP also experienced substantial growth with regards to their holdings in Edwards Lifesciences – an impressive 161.5% increase that resulted in them owning 3 ,503 ,803 shares valued at $261 ,419 ,000.
While these findings may appear perplexing and raise questions about the motivations behind such significant adjustments to investment portfolios within the healthcare sector- it is important to note that institutional investors and hedge funds constitute a substantial proportion of overall stock ownership in many companies including Edwards Lifesciences. According to reports derived from Bloomberg data for this study published October 2023 alone “institutional investors and hedge funds own approximately79 .25 %of Edward’sLifesciences’sstocks.”