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Edwards Lifesciences Corp (EW): Generation Investment Management Ups Stake To Over 5%

Generation Investment Management, managed by David Blood and Al Gore, has upped its stake in Edwards Lifesciences Corp (NYSE:EW). In a new filing with the U.S. Securities and Exchange Commission, the hedge fund reported owning 5.53 million Edwards Lifesciences Corp (NYSE:EW) shares, which represents an increase from 4.27 million shares held previously. The new stake equates to 5.2% of common stock, and is passive by nature.

David Blood

Edwards Lifesciences Corp (NYSE:EW) is engaged in the science of heart valves and hemodynamic monitoring. The company is located in California, and has a market cap of $10.9 billion.

At the end of July, Edwards Lifesciences Corp (NYSE:EW) reported its financial results for the second quarter of 2014. The company posted net income of $547.0 million, or $5.09 per diluted share, for the second quarter, compared to $93.3 million, or $0.81 per diluted share, in the same quarter a year ago. For the second quarter, the company’s net sales rose by 11.2% to $575.1 million, compared to net sales of $517.2 million in the same period last year.

For full-year 2014, Edwards Lifesciences Corp (NYSE:EW) expects total sales at the high end of its previous $2.05 billion to $2.25 billion range. In addition, the company raised its guidance for 2014 diluted earnings per share to a range of $3.24 to $3.34, excluding special items.

North Tide Capital, led by Conan Laughlin, holds 600,000 shares of Edwards Lifesciences Corp (NYSE:EW), while Two Sigma Advisors, run by John Overdeck and David Siegel, owns 551,636 shares of the company, according to our record.

Generation Investment Management was co-founded in 2004 by David Blood and Al Gore. The fund is a long-only equity fund with a long-term focus.Generation Global Equity Fund has $6 billion in assets under management in early 2011 and is said to return more than 50% during the 12 months ending in March 2010. In its recent 13F, Generation Investment Management revealed 29 investments, worth $6.2 billion, for the second quarter of 2014. Over the quarter, the fund added three positions and reduced holdings in more than 10 stocks. The fund mainly invested in Technology, Healthcare and Finance stocks. QUALCOMM, Inc. (NASDAQ:QCOM), Intuit Inc. (NASDAQ:INTU), and Microsoft Corporation (NASDAQ:MSFT) are represented as top three tech stock of the fund in the second quarter.

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