NewEdge Advisors LLC Increases Stake in Edwards Lifesciences Co. (NYSE:EW)

NewEdge Advisors LLC boosted its stake in Edwards Lifesciences Co. (NYSE:EW) by 33.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 71,059 shares of the medical research company’s stock after buying an additional 17,841 shares during the quarter. NewEdge Advisors LLC’s holdings in Edwards Lifesciences were worth $6,564,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of EW. Crewe Advisors LLC purchased a new stake in shares of Edwards Lifesciences in the 1st quarter worth about $28,000. First Community Trust NA purchased a new stake in Edwards Lifesciences in the second quarter worth about $29,000. Riverview Trust Co bought a new position in shares of Edwards Lifesciences during the first quarter valued at approximately $34,000. Webster Bank N. A. purchased a new position in shares of Edwards Lifesciences during the second quarter valued at approximately $39,000. Finally, Versant Capital Management Inc boosted its position in shares of Edwards Lifesciences by 206.3% in the 2nd quarter. Versant Capital Management Inc now owns 484 shares of the medical research company’s stock worth $45,000 after purchasing an additional 326 shares in the last quarter. 79.46% of the stock is owned by institutional investors.

Edwards Lifesciences Trading Down 1.4 %

Shares of NYSE:EW opened at $65.09 on Wednesday. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $96.12. The company has a market cap of $39.22 billion, a PE ratio of 28.05, a price-to-earnings-growth ratio of 2.80 and a beta of 1.13. The stock has a 50 day moving average of $66.90 and a 200 day moving average of $81.50. 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 posted 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. 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 for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period last year, the firm earned $0.66 earnings per share. The business’s quarterly revenue was up 6.7% on a year-over-year basis. As a group, equities research analysts expect that Edwards Lifesciences Co. will post 2.71 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. cut Edwards Lifesciences from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $105.00 to $72.00 in a research note on Thursday, July 25th. Truist Financial cut their price objective on shares of Edwards Lifesciences from $82.00 to $71.00 and set a “hold” rating on the stock in a research report on Friday, September 13th. Barclays decreased their target price on shares of Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Monday, September 9th. Oppenheimer reiterated an “outperform” rating and set a $90.00 price target on shares of Edwards Lifesciences in a report on Thursday, September 12th. Finally, Robert W. Baird lowered shares of Edwards Lifesciences from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $102.00 to $70.00 in a report on Thursday, July 25th. Sixteen equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $78.23.

Insider Buying and Selling

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the 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 completion of the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,133,916.72. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, VP Daveen Chopra sold 1,250 shares of the business’s stock in a transaction 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 owns 29,333 shares in the company, valued at $2,051,843.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction 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 disclosure for this sale can be found here. In the last three months, insiders have sold 16,250 shares of company stock valued at $1,218,138. Corporate insiders own 1.29% of the company’s stock.

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.