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Should You Invest in Edwards Lifesciences Corporation (EW) Now

Wedgewood Partners, an investment management company, released its “Large Cap Focused Growth Fund” third-quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund returned -4.1% net, compared to a -4.9% return for the Standard & Poor’s Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Wedgewood Partners discussed stocks like Edwards Lifesciences Corporation (NYSE:EW) in the Q3 2022 investor letter. Headquartered in Irvine, California, Edwards Lifesciences Corporation (NYSE:EW) is a medical technology company. On October 13, 2022, Edwards Lifesciences Corporation (NYSE:EW) stock closed at $84.22 per share. One-month return of Edwards Lifesciences Corporation (NYSE:EW) was -9.78% and its shares lost 24.91% of their value over the last 52 weeks. Edwards Lifesciences Corporation (NYSE:EW) has a market capitalization of $52.212 billion.

Here is what Wedgewood Partners specifically said about Edwards Lifesciences Corporation (NYSE:EW) in its Q3 2022 investor letter:

"Edwards Lifesciences Corporation (NYSE:EW) reported just +5% growth in revenue (foreign exchange adjusted) compared to a year ago. While this quarter represented a deceleration in revenue growth from earlier this year, much of that was due to hospital staffing shortages and the vagaries of global healthcare systems emerging from pandemic disruptions. The Company received FDA approval for its minimally invasive mitral valve repair system, PASCAL, and also presented compelling related clinical data, which should help support accelerating growth over the next few years. As for Edwards’ core TAVR system, there continues to be a (unfortunately) pent-up, untreated population suffering from severe aortic stenosis that will finally be able to find their way back into healthcare systems as labor market pressures ease."

43851091 - risk factors for heart disease danger as a medical health care lifestyle concept with an overweight person walking on an elongated artery

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Edwards Lifesciences Corporation (NYSE:EW) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 39 hedge fund portfolios held Edwards Lifesciences Corporation (NYSE:EW) at the end of the second quarter which was 45 in the previous quarter.

We discussed Edwards Lifesciences Corporation (NYSE:EW) in another article and shared the best growth stocks to buy according to Ray Dalio. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

 

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Disclosure: None. This article is originally published at Insider Monkey.