Resonant Capital Advisors LLC Grows Position in Edwards Lifesciences Co. (NYSE:EW)

Resonant Capital Advisors LLC boosted its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 7.2% in the second quarter, Holdings Channel reports. The fund owned 2,946 shares of the medical research company’s stock after purchasing an additional 199 shares during the period. Resonant Capital Advisors LLC’s holdings in Edwards Lifesciences were worth $272,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in EW. DSM Capital Partners LLC acquired a new stake in Edwards Lifesciences during the 4th quarter worth approximately $28,000. Crewe Advisors LLC acquired a new stake in Edwards Lifesciences during the 1st quarter worth approximately $28,000. First Community Trust NA acquired a new stake in shares of Edwards Lifesciences in the 2nd quarter valued at approximately $29,000. Riverview Trust Co acquired a new stake in shares of Edwards Lifesciences in the 1st quarter valued at approximately $34,000. Finally, Pingora Partners LLC acquired a new stake in shares of Edwards Lifesciences in the 4th quarter valued at approximately $38,000. 79.46% of the stock is owned by institutional investors and hedge funds.

Edwards Lifesciences Price Performance

EW stock opened at $68.75 on Wednesday. The stock has a 50-day moving average price of $76.26 and a two-hundred day moving average price of $84.54. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $96.12. The company has a current ratio of 3.71, a quick ratio of 2.87 and a debt-to-equity ratio of 0.08. The company has a market cap of $41.43 billion, a PE ratio of 29.63, a price-to-earnings-growth ratio of 2.92 and a beta of 1.11.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings data on Wednesday, July 24th. The medical research company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 earnings per share. As a group, research analysts predict that Edwards Lifesciences Co. will post 2.7 EPS for the current year.

Insiders Place Their Bets

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $93.29, for a total transaction of $466,450.00. Following the transaction, the vice president now owns 46,936 shares in the company, valued at $4,378,659.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $93.29, for a total transaction of $466,450.00. Following the transaction, the vice president now owns 46,936 shares in the company, valued at $4,378,659.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Daveen Chopra sold 1,250 shares of the business’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 completion of the transaction, the vice president now owns 29,333 shares in the company, valued at approximately $2,051,843.35. The disclosure for this sale can be found here. Insiders have sold a total of 16,250 shares of company stock worth $1,321,988 over the last quarter. 1.29% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

EW has been the subject of several recent analyst reports. Robert W. Baird cut Edwards Lifesciences from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $102.00 to $70.00 in a report on Thursday, July 25th. Truist Financial cut Edwards Lifesciences from a “buy” rating to a “hold” rating and reduced their price target for the company from $110.00 to $82.00 in a report on Thursday, July 25th. StockNews.com cut Edwards Lifesciences from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Barclays reduced their price target on Edwards Lifesciences from $101.00 to $90.00 and set an “overweight” rating for the company in a report on Friday, July 26th. Finally, Baird R W cut Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 25th. Fourteen research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $82.10.

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.