Investors are Watching These 5 Biotech Stocks

Page 1 of 5

In this article, we discuss the 5 biotech stocks that investors are watching. If you want to read about some more biotech stocks, go directly to Investors are Watching These 10 Biotech Stocks.

5. Edwards Lifesciences Corporation (NYSE:EW)

Number of Hedge Fund Holders: 45

Edwards Lifesciences Corporation (NYSE:EW) provides healthcare equipment for critical care. On April 26, the company posted earnings for the first quarter of 2022, reporting earnings per share of $0.60, beating analyst expectations by $0.03. The revenue over the period was $1.34 billion, up more than 9% compared to the revenue over the same period last year and beating estimates by $30 million. The firm guided full year sales for 2022 to around $6 billion against consensus estimates of $5.7 billion. 

On May 17, Citi analyst Joanne Wuensch maintained a Buy rating on Edwards Lifesciences Corporation (NYSE:EW) stock and lowered the price target to $115 from $134, noting that market multiples were contracting due to inflation and slowing growth. 

At the end of the first quarter of 2022, 45 hedge funds in the database of Insider Monkey held stakes worth $2.4 billion in Edwards Lifesciences Corporation (NYSE:EW), the same as in the preceding quarter worth $2.6 billion. 

In its Q4 2021 investor letter, Harding Loevner highlighted a few stocks and Edwards Lifesciences Corporation (NYSE:EW) was one of them. Here is what the fund said:

“Innovation can foster growth in Health Care fields other than drug discovery. Edwards Lifesciences Corporation (NYSE:EW) makes minimally invasive devices to treat heart disease or for critical care monitoring. Its transcatheter heart valve, SAPIEN, is the most-implanted aortic heart valve in the world. Having settled a lawsuit with Abbott over alleged patent infringement, Edwards Lifesciences Corporation (NYSE:EW) is now moving ahead with a newer product line called PASCAL to treat elderly or frail patients—for whom currently available treatments are ineffective—for mitral and tricuspid disease. PASCAL is the fruit of the company’s ongoing investment in research and development. Between PASCAL and its next-generation SAPIEN valve, the company expects to double its addressable market to approximately US$20 billion by 2028.”

Page 1 of 5