Edwards Lifesciences Corp (EW) “third-quarter earnings rose 7.5% on a tax benefit as the heart-valve maker’s investments in its expected Sapien launch hurt margins, despite sales growth,” reports the Wall Street Journal. The news caused EW share prices to swell from $67.79 at close yesterday to $72 at close today.
The following hedge funds made a bundle on the increase:
1. Navellier & Associates - Louis Navellier: Gained $1.9 million
2. Sac Capital Advisors - Steven Cohen: Gained $1.6 million
3. Castlerock Asset Management - Paul Tanico: Gained $1.1 million
4. Driehaus Capital - Richard Driehaus: Gained $826,000
5. Aqr Capital Management - Cliff Asness: Gained $346,000
6. Sirios Capital Management - John Brennan: Gained $289,000
7. Renaissance Technologies - Jim Simons: Gained $287,000
8. Millennium Management - Israel Englander: Gained $223,000
9. Orbimed Advisors - Samuel Isaly: Gained $210,000
DISCLAIMER: These calculations assume that these hedge funds did not increase or reduce their stock positions in EW since the end of June. We did not take into account their option positions.