Public Sector Pension Investment Board Purchases 9,863 Shares of Edwards Lifesciences Co. (NYSE:EW)

Public Sector Pension Investment Board boosted its position in Edwards Lifesciences Co. (NYSE:EW) by 73.6% during the second quarter, HoldingsChannel.com reports. The fund owned 23,267 shares of the medical research company’s stock after buying an additional 9,863 shares during the quarter. Public Sector Pension Investment Board’s holdings in Edwards Lifesciences were worth $2,149,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in EW. Steel Grove Capital Advisors LLC acquired a new stake in shares of Edwards Lifesciences in the 2nd quarter valued at approximately $225,000. Altshuler Shaham Ltd grew its stake in shares of Edwards Lifesciences by 100.4% during the second quarter. Altshuler Shaham Ltd now owns 16,541 shares of the medical research company’s stock worth $1,528,000 after buying an additional 8,286 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Edwards Lifesciences by 42.9% during the second quarter. EverSource Wealth Advisors LLC now owns 932 shares of the medical research company’s stock worth $86,000 after buying an additional 280 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Edwards Lifesciences in the 2nd quarter valued at $1,920,000. Finally, Fidelis Capital Partners LLC boosted its holdings in shares of Edwards Lifesciences by 10.0% during the 2nd quarter. Fidelis Capital Partners LLC now owns 5,571 shares of the medical research company’s stock valued at $515,000 after acquiring an additional 507 shares in the last quarter. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on EW. Stifel Nicolaus cut their price target on Edwards Lifesciences from $85.00 to $70.00 and set a “hold” rating on the stock in a research note on Thursday, July 25th. Daiwa America raised shares of Edwards Lifesciences to a “strong-buy” rating in a report on Wednesday, July 31st. Jefferies Financial Group downgraded shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and dropped their price target for the company from $85.00 to $70.00 in a research note on Wednesday, September 18th. Baird R W cut shares of Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 25th. Finally, Truist Financial dropped their price objective on Edwards Lifesciences from $82.00 to $71.00 and set a “hold” rating on the stock in a research note on Friday, September 13th. Sixteen investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $79.82.

Edwards Lifesciences Price Performance

EW opened at $66.58 on Monday. The firm’s fifty day moving average price is $67.78 and its two-hundred day moving average price is $81.89. The company has a market capitalization of $40.12 billion, a price-to-earnings ratio of 28.70, a P/E/G ratio of 2.80 and a beta of 1.13. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.71 and a quick ratio of 2.87. Edwards Lifesciences Co. has a 1 year low of $58.93 and a 1 year high of $96.12.

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, beating analysts’ consensus estimates of $0.69 by $0.01. The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.65 billion. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. Edwards Lifesciences’s revenue was up 6.7% on a year-over-year basis. During the same period last year, the business posted $0.66 earnings per share. As a group, analysts anticipate that Edwards Lifesciences Co. will post 2.71 earnings per share for the current fiscal year.

Insider Transactions at Edwards Lifesciences

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $66.77, for a total transaction of $333,850.00. Following the sale, the vice president now directly owns 46,936 shares in the company, valued at approximately $3,133,916.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Edwards Lifesciences news, VP Daveen Chopra sold 1,250 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total value of $87,437.50. Following the sale, the vice president now directly owns 29,333 shares in the company, valued at approximately $2,051,843.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $66.77, for a total value of $333,850.00. Following the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,133,916.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,250 shares of company stock worth $1,218,138. 1.29% of the stock is owned by company insiders.

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.