Aviance Capital Partners LLC Raises Stake in Edwards Lifesciences Co. (NYSE:EW)

Aviance Capital Partners LLC boosted its holdings in Edwards Lifesciences Co. (NYSE:EW) by 61.8% during the first quarter, Holdings Channel.com reports. The firm owned 7,194 shares of the medical research company’s stock after acquiring an additional 2,748 shares during the quarter. Aviance Capital Partners LLC’s holdings in Edwards Lifesciences were worth $687,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank bought a new position in Edwards Lifesciences in the 4th quarter worth about $648,540,000. Brown Advisory Inc. lifted its stake in shares of Edwards Lifesciences by 20.1% in the fourth quarter. Brown Advisory Inc. now owns 18,181,420 shares of the medical research company’s stock worth $1,386,333,000 after buying an additional 3,048,274 shares in the last quarter. CIBC Private Wealth Group LLC lifted its stake in shares of Edwards Lifesciences by 197.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 3,446,758 shares of the medical research company’s stock worth $262,815,000 after buying an additional 2,286,119 shares in the last quarter. AustralianSuper Pty Ltd bought a new stake in shares of Edwards Lifesciences during the fourth quarter valued at approximately $168,519,000. Finally, Sands Capital Management LLC raised its holdings in Edwards Lifesciences by 34.6% in the 4th quarter. Sands Capital Management LLC now owns 6,103,702 shares of the medical research company’s stock worth $465,407,000 after acquiring an additional 1,567,526 shares during the last quarter. Institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Stock Down 2.3 %

EW stock opened at $90.23 on Tuesday. The business’s 50-day moving average price is $87.85 and its 200-day moving average price is $85.37. The stock has a market cap of $54.37 billion, a P/E ratio of 38.89, a PEG ratio of 3.38 and a beta of 1.11. Edwards Lifesciences Co. has a twelve month low of $60.57 and a twelve month high of $96.12. 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 (NYSE:EW) last issued its quarterly earnings results on Thursday, April 25th. The medical research company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.02. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.58 billion. Edwards Lifesciences had a net margin of 23.01% and a return on equity of 22.86%. On average, equities research analysts forecast that Edwards Lifesciences Co. will post 2.77 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on EW shares. Royal Bank of Canada increased their target price on 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 lifted their price objective on Edwards Lifesciences from $85.00 to $88.00 and gave the stock a “neutral” rating in a report on Friday, April 26th. Citigroup raised Edwards Lifesciences from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $98.00 to $105.00 in a research report on Wednesday, May 22nd. OTR Global upgraded shares of Edwards Lifesciences from a “mixed” rating to a “positive” rating in a research note on Tuesday, March 26th. Finally, Barclays increased their price objective on shares of Edwards Lifesciences from $100.00 to $101.00 and gave the company an “overweight” rating in a research report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.06.

Insider Buying and Selling

In other Edwards Lifesciences news, VP Jean-Luc M. Lemercier sold 14,400 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $84.21, for a total transaction of $1,212,624.00. Following the sale, the vice president now directly owns 173,849 shares of the company’s stock, valued at $14,639,824.29. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Bernard J. Zovighian bought 580 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was bought at an average cost of $85.74 per share, with a total value of $49,729.20. Following the completion of the purchase, the chief executive officer now owns 3,268 shares of the company’s stock, valued at approximately $280,198.32. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jean-Luc M. Lemercier sold 14,400 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $84.21, for a total transaction of $1,212,624.00. Following the completion of the sale, the vice president now owns 173,849 shares in the company, valued at approximately $14,639,824.29. The disclosure for this sale can be found here. In the last quarter, insiders sold 119,849 shares of company stock valued at $10,579,038. Company insiders own 1.27% of the company’s stock.

Edwards Lifesciences Company 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.