5 Oversold Blue Chip Stocks To Buy

2. Edwards Lifesciences Corporation (NYSE:EW)

Number of Hedge Fund Holders: 47

14-day RSI as of August 3: 25.66

Edwards Lifesciences Corporation (NYSE:EW) provides products and tech for structural heart disease and critical care and surgical monitoring. It is based in Irvine, California.

Edwards Lifesciences Corporation (NYSE:EW) had 47 hedge funds long its stock in the first quarter, with a total stake value of $1.9 billion.

As of August 1. RBC Capital’s Shagun Singh holds an Outperform rating and a $96 price target on Edwards Lifesciences Corporation (NYSE:EW) shares.

This is what Baron Funds said about Edwards Lifesciences Corporation (NYSE:EW) in its fourth-quarter 2022 investor letter:

“Negative stock selection in health care equipment was related to sharp declines from fiber optic sensors manufacturer Opsens Inc., intravascular lithotripsy leader ShockWave Medical, Inc., and transcatheter aortic valve replacement pioneer Edwards Lifesciences Corporation (NYSE:EW) These companies were the top detractors from absolute performance, and we have detailed the reasons for recent share price weakness below.

Edwards Lifesciences Corp. is the leading provider of valves for patients with heart disease. Shares fell after the company’s transcatheter aortic valve replacement (TAVR) business missed Street expectations again. Management attributed the sales shortfall to disruption from hospital staffing shortages, an issue that has an outsized impact on TAVR procedures because they are resource-intensive and require multiple specialists. We reduced the position due to increased uncertainty around the growth outlook.”