Ehrlich Financial Group Acquires 586 Shares of Edwards Lifesciences Co. (NYSE:EW)

Ehrlich Financial Group boosted its position in Edwards Lifesciences Co. (NYSE:EW) by 5.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,950 shares of the medical research company’s stock after buying an additional 586 shares during the quarter. Ehrlich Financial Group’s holdings in Edwards Lifesciences were worth $794,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Unique Wealth LLC acquired a new position in shares of Edwards Lifesciences during the 1st quarter worth approximately $248,000. Retireful LLC acquired a new position in shares of Edwards Lifesciences during the 1st quarter worth approximately $387,000. Orser Capital Management LLC acquired a new position in shares of Edwards Lifesciences during the 1st quarter worth approximately $2,101,000. Merit Financial Group LLC increased its position in shares of Edwards Lifesciences by 93.4% during the 1st quarter. Merit Financial Group LLC now owns 10,793 shares of the medical research company’s stock worth $782,000 after purchasing an additional 5,212 shares during the last quarter. Finally, Harbor Investment Advisory LLC increased its position in shares of Edwards Lifesciences by 26.3% during the 1st quarter. Harbor Investment Advisory LLC now owns 22,507 shares of the medical research company’s stock worth $1,631,000 after purchasing an additional 4,682 shares during the last quarter. Institutional investors and hedge funds own 79.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on EW. Wall Street Zen lowered Edwards Lifesciences from a “buy” rating to a “hold” rating in a research report on Friday, May 16th. Wolfe Research downgraded Edwards Lifesciences from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 12th. Robert W. Baird lifted their target price on Edwards Lifesciences from $72.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, April 24th. Morgan Stanley lifted their target price on Edwards Lifesciences from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 12th. Finally, Truist Financial reduced their target price on Edwards Lifesciences from $78.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, April 11th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Edwards Lifesciences has an average rating of “Hold” and an average price target of $80.20.

Edwards Lifesciences Stock Performance

NYSE:EW opened at $77.56 on Friday. The stock has a fifty day moving average price of $73.98 and a 200-day moving average price of $72.75. The company has a market cap of $45.50 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 4.82 and a beta of 1.12. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $95.25.

Edwards Lifesciences (NYSE:EW) last released its earnings results on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.04. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the company posted $0.66 EPS. The company’s revenue was up 6.2% compared to the same quarter last year. As a group, equities analysts anticipate that Edwards Lifesciences Co. will post 2.45 EPS for the current fiscal year.

Insider Transactions at Edwards Lifesciences

In other Edwards Lifesciences news, VP Daveen Chopra sold 1,500 shares of the company’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $75.08, for a total value of $112,620.00. Following the completion of the transaction, the vice president now owns 33,496 shares of the company’s stock, valued at $2,514,879.68. This represents a 4.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Donald E. Bobo, Jr. sold 2,570 shares of the company’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $77.40, for a total value of $198,918.00. Following the completion of the transaction, the vice president now directly owns 50,356 shares of the company’s stock, valued at approximately $3,897,554.40. The trade was a 4.86% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,012 shares of company stock valued at $4,224,717. Corporate insiders own 1.29% of the company’s stock.

About Edwards Lifesciences

Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of aortic heart valves under the Edwards SAPIEN family of valves system; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases under the PASCAL PRECISION and Cardioband names.