HighPoint Advisor Group LLC Makes New $955,000 Investment in Edwards Lifesciences Co. (NYSE:EW)

HighPoint Advisor Group LLC purchased a new position in shares of Edwards Lifesciences Co. (NYSE:EWFree Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,526 shares of the medical research company’s stock, valued at approximately $955,000.

Several other hedge funds have also recently modified their holdings of the stock. DSM Capital Partners LLC purchased a new stake in Edwards Lifesciences during the 4th quarter valued at about $28,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Edwards Lifesciences during the 4th quarter valued at about $34,000. Pingora Partners LLC purchased a new stake in Edwards Lifesciences during the 4th quarter valued at about $38,000. Operose Advisors LLC grew its stake in Edwards Lifesciences by 247.0% during the 3rd quarter. Operose Advisors LLC now owns 635 shares of the medical research company’s stock valued at $44,000 after acquiring an additional 452 shares in the last quarter. Finally, SRS Capital Advisors Inc. grew its stake in Edwards Lifesciences by 292.6% during the 3rd quarter. SRS Capital Advisors Inc. now owns 636 shares of the medical research company’s stock valued at $44,000 after acquiring an additional 474 shares in the last quarter. Institutional investors and hedge funds own 79.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Citigroup raised shares of Edwards Lifesciences from a “neutral” rating to a “buy” rating and increased their price target for the company from $98.00 to $105.00 in a research note on Wednesday, May 22nd. Royal Bank of Canada increased their price target on shares of Edwards Lifesciences from $95.00 to $101.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Piper Sandler upped their price target on Edwards Lifesciences from $85.00 to $88.00 and gave the stock a “neutral” rating in a research note on Friday, April 26th. Evercore ISI decreased their price target on Edwards Lifesciences from $92.00 to $89.00 and set an “in-line” rating on the stock in a research note on Friday, April 26th. Finally, Morgan Stanley upped their price target on Edwards Lifesciences from $95.00 to $103.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $95.06.

Get Our Latest Stock Analysis on EW

Insiders Place Their Bets

In related news, CEO Bernard J. Zovighian bought 580 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was bought at an average price of $85.74 per share, with a total value of $49,729.20. Following the transaction, the chief executive officer now owns 3,268 shares of the company’s stock, valued at $280,198.32. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In other Edwards Lifesciences news, CEO Bernard J. Zovighian acquired 580 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was acquired at an average price of $85.74 per share, with a total value of $49,729.20. Following the transaction, the chief executive officer now directly owns 3,268 shares in the company, valued at $280,198.32. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Scott B. Ullem sold 7,255 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $94.89, for a total transaction of $688,426.95. Following the transaction, the chief financial officer now directly owns 19,074 shares of the company’s stock, valued at $1,809,931.86. The disclosure for this sale can be found here. Insiders have sold 127,104 shares of company stock worth $11,267,464 in the last quarter. 1.27% of the stock is owned by corporate insiders.

Edwards Lifesciences Price Performance

Shares of EW traded down $0.06 during mid-day trading on Tuesday, reaching $86.81. 69,367 shares of the company’s stock were exchanged, compared to its average volume of 3,359,049. The company has a market cap of $52.31 billion, a price-to-earnings ratio of 37.44, a PEG ratio of 3.19 and a beta of 1.11. The company has a quick ratio of 2.67, a current ratio of 3.75 and a debt-to-equity ratio of 0.08. Edwards Lifesciences Co. has a 52-week low of $60.57 and a 52-week high of $96.12. The company has a 50-day simple moving average of $87.65 and a two-hundred day simple moving average of $84.07.

Edwards Lifesciences (NYSE:EWGet Free Report) last released its earnings results on Thursday, April 25th. The medical research company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.64 by $0.02. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Edwards Lifesciences had a net margin of 23.01% and a return on equity of 22.86%. On average, sell-side analysts predict that Edwards Lifesciences Co. will post 2.77 EPS for the current fiscal year.

About Edwards Lifesciences

(Free Report)

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.

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Institutional Ownership by Quarter for Edwards Lifesciences (NYSE:EW)

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