Summit Financial LLC Buys 1,143 Shares of Edwards Lifesciences Co. (NYSE:EW)

Summit Financial LLC raised its stake in Edwards Lifesciences Co. (NYSE:EW) by 40.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,993 shares of the medical research company’s stock after purchasing an additional 1,143 shares during the period. Summit Financial LLC’s holdings in Edwards Lifesciences were worth $369,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in EW. Allspring Global Investments Holdings LLC increased its position in Edwards Lifesciences by 4.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 330,711 shares of the medical research company’s stock valued at $31,603,000 after buying an additional 14,087 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Edwards Lifesciences by 151.2% during the first quarter. Empowered Funds LLC now owns 20,123 shares of the medical research company’s stock valued at $1,923,000 after acquiring an additional 12,112 shares in the last quarter. Cetera Advisors LLC lifted its holdings in shares of Edwards Lifesciences by 175.1% in the 1st quarter. Cetera Advisors LLC now owns 38,090 shares of the medical research company’s stock worth $3,640,000 after purchasing an additional 24,242 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of Edwards Lifesciences by 95.1% in the 4th quarter. TD Asset Management Inc now owns 1,323,611 shares of the medical research company’s stock worth $100,925,000 after purchasing an additional 645,204 shares in the last quarter. Finally, Sei Investments Co. increased its stake in Edwards Lifesciences by 10.8% during the 4th quarter. Sei Investments Co. now owns 558,031 shares of the medical research company’s stock valued at $42,550,000 after purchasing an additional 54,595 shares in the last quarter. Institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Price Performance

Shares of NYSE EW opened at $68.75 on Wednesday. The stock has a fifty day simple moving average of $76.26 and a two-hundred day simple moving average of $84.54. Edwards Lifesciences Co. has a 1-year low of $58.93 and a 1-year high of $96.12. The firm has a market cap of $41.43 billion, a price-to-earnings ratio of 29.63, a price-to-earnings-growth ratio of 2.92 and a beta of 1.11. The company has a current ratio of 3.71, a quick ratio of 2.87 and a debt-to-equity ratio of 0.08.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Wednesday, July 24th. The medical research company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the company earned $0.66 earnings per share. Edwards Lifesciences’s revenue was up 6.7% compared to the same quarter last year. Analysts anticipate that Edwards Lifesciences Co. will post 2.7 earnings per share for the current year.

Insider Buying and Selling at Edwards Lifesciences

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $93.29, for a total transaction of $466,450.00. Following the completion of the transaction, the vice president now directly owns 46,936 shares of the company’s stock, valued at $4,378,659.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, VP Daveen Chopra sold 1,250 shares of the firm’s stock in a transaction on 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 directly owns 29,333 shares of the company’s stock, valued at $2,051,843.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $93.29, for a total value of $466,450.00. Following the completion of the transaction, the vice president now directly owns 46,936 shares of the company’s stock, valued at $4,378,659.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,250 shares of company stock valued at $1,321,988. Company insiders own 1.29% of the company’s stock.

Analyst Upgrades and Downgrades

EW has been the topic of several research reports. Baird R W downgraded shares of Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Edwards Lifesciences from $103.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Bank of America lowered Edwards Lifesciences from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $105.00 to $75.00 in a report on Thursday, July 25th. Piper Sandler lowered their price objective on Edwards Lifesciences from $88.00 to $73.00 and set a “neutral” rating for the company in a research note on Thursday, July 25th. Finally, Robert W. Baird downgraded Edwards Lifesciences from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $102.00 to $70.00 in a research note on Thursday, July 25th. Fourteen equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Edwards Lifesciences presently has an average rating of “Moderate Buy” and a consensus target price of $82.10.

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.