Steel Grove Capital Advisors LLC Makes New $225,000 Investment in Edwards Lifesciences Co. (NYSE:EW)

Steel Grove Capital Advisors LLC acquired a new position in Edwards Lifesciences Co. (NYSE:EW) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,435 shares of the medical research company’s stock, valued at approximately $225,000.

A number of other institutional investors have also recently made changes to their positions in the business. Crewe Advisors LLC purchased a new position in shares of Edwards Lifesciences in the 1st quarter valued at about $28,000. First Community Trust NA acquired a new position in shares of Edwards Lifesciences during the 2nd quarter worth approximately $29,000. Riverview Trust Co acquired a new position in shares of Edwards Lifesciences during the 1st quarter worth approximately $34,000. DSM Capital Partners LLC acquired a new position in shares of Edwards Lifesciences during the 4th quarter worth approximately $28,000. Finally, Webster Bank N. A. acquired a new position in Edwards Lifesciences in the second quarter valued at approximately $39,000. Institutional investors and hedge funds own 79.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Daiwa America raised Edwards Lifesciences to a “strong-buy” rating in a research report on Wednesday, July 31st. Wolfe Research raised Edwards Lifesciences from an “underperform” rating to a “peer perform” rating in a report on Monday, July 29th. Royal Bank of Canada decreased their price objective on shares of Edwards Lifesciences from $101.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Evercore ISI decreased their price objective on shares of Edwards Lifesciences from $91.00 to $76.00 and set an “in-line” rating for the company in a research note on Thursday, July 25th. Finally, JPMorgan Chase & Co. downgraded shares of Edwards Lifesciences from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $105.00 to $72.00 in a research note on Thursday, July 25th. Sixteen investment 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $79.82.

Edwards Lifesciences Trading Up 0.7 %

Shares of EW stock opened at $67.33 on Tuesday. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $96.12. The company has a market capitalization of $40.57 billion, a P/E ratio of 29.02, a P/E/G ratio of 2.85 and a beta of 1.13. The company has a quick ratio of 2.87, a current ratio of 3.71 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average price of $69.45 and a 200 day moving average price of $82.61.

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

Insiders Place Their Bets

In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now owns 46,936 shares of the company’s stock, valued at $4,378,659.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Edwards Lifesciences news, VP Daveen Chopra sold 1,250 shares of the company’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 of the company’s stock, valued at approximately $2,051,843.35. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s 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 sale, the vice president now directly owns 46,936 shares in the company, valued at approximately $4,378,659.44. The disclosure for this sale can be found here. Insiders have sold a total of 16,250 shares of company stock valued at $1,218,138 over the last 90 days. 1.29% of the stock is currently owned by insiders.

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.