Ieq Capital LLC purchased a new stake in shares of Edwards Lifesciences Corporation (NYSE:EW – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 111,370 shares of the medical research company’s stock, valued at approximately $10,075,000.
Other institutional investors have also added to or reduced their stakes in the company. Rehmann Capital Advisory Group raised its stake in shares of Edwards Lifesciences by 2.1% during the fourth quarter. Rehmann Capital Advisory Group now owns 6,399 shares of the medical research company’s stock valued at $546,000 after acquiring an additional 130 shares during the last quarter. McIlrath & Eck LLC grew its stake in shares of Edwards Lifesciences by 14.6% in the fourth quarter. McIlrath & Eck LLC now owns 1,057 shares of the medical research company’s stock worth $90,000 after purchasing an additional 135 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of Edwards Lifesciences by 0.9% in the fourth quarter. Quadrant Capital Group LLC now owns 15,113 shares of the medical research company’s stock worth $1,288,000 after purchasing an additional 136 shares during the last quarter. Stephens Inc. AR grew its stake in shares of Edwards Lifesciences by 5.4% in the fourth quarter. Stephens Inc. AR now owns 2,799 shares of the medical research company’s stock worth $239,000 after purchasing an additional 144 shares during the last quarter. Finally, Composition Wealth LLC increased its holdings in Edwards Lifesciences by 1.6% during the 4th quarter. Composition Wealth LLC now owns 9,331 shares of the medical research company’s stock valued at $795,000 after purchasing an additional 147 shares during the period. Hedge funds and other institutional investors own 79.46% of the company’s stock.
Edwards Lifesciences Price Performance
Shares of NYSE EW opened at $89.89 on Friday. Edwards Lifesciences Corporation has a 1 year low of $72.30 and a 1 year high of $96.29. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.52 and a quick ratio of 3.77. The company’s 50-day moving average is $89.21 and its 200 day moving average is $84.67. The stock has a market capitalization of $51.76 billion, a P/E ratio of 51.66, a P/E/G ratio of 2.26 and a beta of 0.85.
Wall Street Analyst Weigh In
A number of research firms have commented on EW. Piper Sandler reaffirmed an “overweight” rating and set a $101.00 price target (up from $100.00) on shares of Edwards Lifesciences in a research report on Friday, July 24th. Leerink Partners upgraded Edwards Lifesciences from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $87.00 to $101.00 in a research report on Friday, July 24th. BTIG Research boosted their target price on Edwards Lifesciences from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. Truist Financial boosted their target price on Edwards Lifesciences from $90.00 to $95.00 and gave the company a “hold” rating in a research note on Thursday, July 16th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Edwards Lifesciences in a report on Friday, July 17th. Seventeen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Edwards Lifesciences has a consensus rating of “Moderate Buy” and a consensus target price of $100.27.
Check Out Our Latest Research Report on EW
Insiders Place Their Bets
In other news, SVP Andrew M. Dahl sold 568 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $86.08, for a total value of $48,893.44. Following the completion of the transaction, the senior vice president owned 15,334 shares in the company, valued at $1,319,950.72. This trade represents a 3.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 23,145 shares of Edwards Lifesciences stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $86.42, for a total value of $2,000,190.90. Following the sale, the vice president owned 98,611 shares in the company, valued at $8,521,962.62. This represents a 19.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 25,570 shares of company stock worth $2,219,390. Company insiders own 0.31% of the company’s stock.
About Edwards Lifesciences
Edwards Lifesciences is a medical technology company focused on products and therapies for structural heart disease and critical care monitoring. The company designs, develops and manufactures prosthetic heart valves and related delivery systems used in both surgical and minimally invasive (transcatheter) procedures. Its portfolio addresses a range of valvular conditions, with an emphasis on technologies that enable transcatheter aortic valve replacement (TAVR) as an alternative to open-heart surgery.
In addition to transcatheter heart valves—including the widely recognized SAPIEN family—Edwards offers surgical tissue valves and ancillary devices used by cardiac surgeons, interventional cardiologists and hospital teams.
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