Empirical Finance LLC Increases Stock Position in Edwards Lifesciences Co. (NYSE:EW)

Empirical Finance LLC increased its holdings in Edwards Lifesciences Co. (NYSE:EW) by 2.2% during the third quarter, HoldingsChannel.com reports. The fund owned 21,007 shares of the medical research company’s stock after buying an additional 452 shares during the period. Empirical Finance LLC’s holdings in Edwards Lifesciences were worth $1,386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Crewe Advisors LLC acquired a new position in Edwards Lifesciences in the first quarter valued at $28,000. First Community Trust NA acquired a new position in Edwards Lifesciences in the 2nd quarter valued at about $29,000. Webster Bank N. A. purchased a new stake in Edwards Lifesciences during the 2nd quarter valued at approximately $39,000. Peoples Bank KS acquired a new stake in Edwards Lifesciences during the 3rd quarter worth approximately $40,000. Finally, Versant Capital Management Inc lifted its position in Edwards Lifesciences by 206.3% during the 2nd quarter. Versant Capital Management Inc now owns 484 shares of the medical research company’s stock worth $45,000 after acquiring an additional 326 shares during the period. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Insider Buying and Selling at Edwards Lifesciences

In other Edwards Lifesciences news, VP Daveen Chopra sold 1,250 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total value of $87,437.50. Following the sale, the vice president now directly owns 29,333 shares of the company’s stock, valued at approximately $2,051,843.35. This trade represents a 4.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Larry L. Wood sold 25,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $65.91, for a total transaction of $1,647,750.00. Following the transaction, the insider now directly owns 198,526 shares of the company’s stock, valued at approximately $13,084,848.66. This represents a 11.18 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 41,250 shares of company stock worth $2,744,438. Insiders own 1.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft cut their price target on Edwards Lifesciences from $103.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Daiwa Capital Markets upgraded shares of Edwards Lifesciences from a “neutral” rating to an “outperform” rating in a research report on Wednesday, July 31st. Truist Financial dropped their target price on Edwards Lifesciences from $71.00 to $70.00 and set a “hold” rating on the stock in a research report on Friday, October 25th. Jefferies Financial Group downgraded Edwards Lifesciences from a “buy” rating to a “hold” rating and decreased their price target for the company from $85.00 to $70.00 in a research note on Wednesday, September 18th. Finally, Canaccord Genuity Group cut their price objective on Edwards Lifesciences from $66.00 to $63.00 and set a “hold” rating for the company in a research report on Friday, October 25th. Seventeen research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Edwards Lifesciences has a consensus rating of “Hold” and an average price target of $75.67.

Edwards Lifesciences Stock Up 2.4 %

EW opened at $67.76 on Friday. The business’s fifty day simple moving average is $67.44 and its 200 day simple moving average is $76.24. Edwards Lifesciences Co. has a 52 week low of $58.93 and a 52 week high of $96.12. The firm has a market cap of $39.96 billion, a P/E ratio of 9.78, a PEG ratio of 3.74 and a beta of 1.12. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.67. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the company earned $0.59 EPS. As a group, equities research analysts anticipate that Edwards Lifesciences Co. will post 2.57 EPS for the current fiscal year.

Edwards Lifesciences Profile

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.