Monterey Private Wealth Inc. acquired a new stake in shares of Edwards Lifesciences Co. (NYSE:EW – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 2,330 shares of the medical research company’s stock, valued at approximately $220,000.
A number of other hedge funds have also recently modified their holdings of the business. Castleview Partners LLC purchased a new position in shares of Edwards Lifesciences during the first quarter worth approximately $25,000. Core Alternative Capital lifted its position in Edwards Lifesciences by 96.1% during the first quarter. Core Alternative Capital now owns 353 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 173 shares during the period. Jones Financial Companies Lllp acquired a new position in Edwards Lifesciences during the first quarter valued at $33,000. MCF Advisors LLC lifted its position in Edwards Lifesciences by 179.6% during the first quarter. MCF Advisors LLC now owns 411 shares of the medical research company’s stock valued at $34,000 after purchasing an additional 264 shares during the period. Finally, Compass Wealth Management LLC acquired a new position in Edwards Lifesciences during the fourth quarter valued at $31,000. Institutional investors own 79.25% of the company’s stock.
Insider Transactions at Edwards Lifesciences
In related news, CFO Scott B. Ullem sold 7,255 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $93.27, for a total value of $676,673.85. Following the completion of the transaction, the chief financial officer now directly owns 19,248 shares in the company, valued at approximately $1,795,260.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Catherine M. Szyman sold 5,000 shares of the firm’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $90.52, for a total value of $452,600.00. Following the transaction, the vice president now owns 34,814 shares in the company, valued at $3,151,363.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Scott B. Ullem sold 7,255 shares of the firm’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $93.27, for a total value of $676,673.85. Following the completion of the sale, the chief financial officer now directly owns 19,248 shares in the company, valued at $1,795,260.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 174,359 shares of company stock worth $14,301,522. 1.29% of the stock is currently owned by company insiders.
Edwards Lifesciences Stock Down 1.1 %
NYSE:EW traded down $0.82 during mid-day trading on Friday, reaching $73.20. The stock had a trading volume of 3,985,765 shares, compared to its average volume of 3,165,992. Edwards Lifesciences Co. has a fifty-two week low of $67.13 and a fifty-two week high of $94.87. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.15 and a quick ratio of 2.30. The business’s 50 day moving average is $81.38 and its 200 day moving average is $83.95. The stock has a market cap of $44.50 billion, a P/E ratio of 32.39, a PEG ratio of 3.95 and a beta of 1.03.
Edwards Lifesciences (NYSE:EW – Get Free Report) last issued its earnings results on Wednesday, July 26th. The medical research company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.65 by $0.01. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.51 billion. Edwards Lifesciences had a return on equity of 25.43% and a net margin of 24.56%. Edwards Lifesciences’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period last year, the business earned $0.63 earnings per share. As a group, sell-side analysts predict that Edwards Lifesciences Co. will post 2.55 earnings per share for the current year.
Analysts Set New Price Targets
A number of research firms recently issued reports on EW. Royal Bank of Canada restated an “outperform” rating and set a $96.00 target price on shares of Edwards Lifesciences in a research report on Thursday, August 17th. Robert W. Baird began coverage on shares of Edwards Lifesciences in a research note on Tuesday, July 18th. They set an “outperform” rating and a $107.00 target price for the company. 58.com reissued a “reiterates” rating on shares of Edwards Lifesciences in a research note on Tuesday, June 27th. TheStreet cut shares of Edwards Lifesciences from a “b-” rating to a “c+” rating in a research note on Wednesday, August 9th. Finally, Truist Financial boosted their target price on shares of Edwards Lifesciences from $101.00 to $105.00 in a research note on Wednesday, July 19th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Edwards Lifesciences currently has an average rating of “Hold” and a consensus target price of $92.42.
Check Out Our Latest Stock Analysis on Edwards Lifesciences
About Edwards Lifesciences
Edwards Lifesciences Corporation provides products and technologies for structural heart disease, and critical care and surgical monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of heart valves; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases.
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