Oppenheimer Asset Management Inc. Purchases 615 Shares of Edwards Lifesciences Co. (NYSE:EW)

Oppenheimer Asset Management Inc. increased its position in shares of Edwards Lifesciences Co. (NYSE:EW) by 2.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,983 shares of the medical research company’s stock after buying an additional 615 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Edwards Lifesciences were worth $2,031,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Edwards Lifesciences

In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $93.29, for a total transaction of $466,450.00. Following the completion of the sale, the vice president now owns 46,936 shares in the company, valued at approximately $4,378,659.44. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction dated 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 sale, the vice president now owns 46,936 shares in the company, valued at $4,378,659.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 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. In the last three months, insiders have sold 16,250 shares of company stock worth $1,218,138. Company insiders own 1.29% of the company’s stock.

Edwards Lifesciences Stock Performance

Shares of Edwards Lifesciences stock opened at $67.22 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.71 and a quick ratio of 2.87. The firm has a 50 day simple moving average of $71.41 and a 200 day simple moving average of $83.22. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $96.12. The firm has a market cap of $40.51 billion, a P/E ratio of 28.97, a P/E/G ratio of 2.85 and a beta of 1.13.

Edwards Lifesciences (NYSE:EW) last released its earnings results on Wednesday, July 24th. The medical research company reported $0.70 EPS 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 company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same period last year, the firm earned $0.66 EPS. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. Sell-side analysts predict that Edwards Lifesciences Co. will post 2.7 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on EW shares. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Edwards Lifesciences from $103.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Barclays reduced their price objective on Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday, September 9th. Wells Fargo & Company lowered their price objective on Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Monday, September 9th. JPMorgan Chase & Co. cut Edwards Lifesciences from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $105.00 to $72.00 in a research report on Thursday, July 25th. Finally, Truist Financial lowered their price target on shares of Edwards Lifesciences from $82.00 to $71.00 and set a “hold” rating on the stock in a report on Friday, September 13th. Fifteen equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Edwards Lifesciences presently has an average rating of “Hold” and a consensus target price of $80.29.

About Edwards Lifesciences

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.