Concurrent Investment Advisors LLC Grows Stock Position in Edwards Lifesciences Co. (NYSE:EW)

Concurrent Investment Advisors LLC increased its position in shares of Edwards Lifesciences Co. (NYSE:EW) by 3.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,187 shares of the medical research company’s stock after purchasing an additional 636 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Edwards Lifesciences were worth $1,266,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in EW. Price T Rowe Associates Inc. MD increased its holdings in shares of Edwards Lifesciences by 57.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,516,260 shares of the medical research company’s stock valued at $622,695,000 after purchasing an additional 2,390,137 shares during the last quarter. CCLA Investment Management grew its holdings in Edwards Lifesciences by 100,739.7% in the 1st quarter. CCLA Investment Management now owns 1,406,714 shares of the medical research company’s stock valued at $134,092,000 after buying an additional 1,405,319 shares in the last quarter. Swedbank AB acquired a new stake in shares of Edwards Lifesciences in the 1st quarter worth $124,511,000. Sei Investments Co. raised its holdings in shares of Edwards Lifesciences by 162.7% during the 1st quarter. Sei Investments Co. now owns 1,465,719 shares of the medical research company’s stock worth $140,064,000 after acquiring an additional 907,688 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Edwards Lifesciences by 4.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 19,782,909 shares of the medical research company’s stock valued at $1,827,347,000 after acquiring an additional 809,605 shares during the last quarter. 79.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada cut their price objective on shares of Edwards Lifesciences from $85.00 to $75.00 and set an “outperform” rating for the company in a research report on Tuesday, October 8th. StockNews.com lowered shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Wells Fargo & Company lowered 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. Daiwa Capital Markets upgraded Edwards Lifesciences from a “neutral” rating to an “outperform” rating in a research report on Wednesday, July 31st. Finally, Truist Financial decreased their price target on Edwards Lifesciences from $71.00 to $70.00 and set a “hold” rating on the stock in a research note on Friday, October 25th. Seventeen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Edwards Lifesciences presently has a consensus rating of “Hold” and a consensus target price of $75.67.

Edwards Lifesciences Price Performance

Shares of NYSE EW opened at $66.22 on Friday. 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 company has a market cap of $39.89 billion, a price-to-earnings ratio of 9.56, a price-to-earnings-growth ratio of 3.74 and a beta of 1.12. The stock’s 50-day moving average is $67.59 and its two-hundred day moving average is $76.96. Edwards Lifesciences Co. has a 1-year low of $58.93 and a 1-year high of $96.12.

Edwards Lifesciences (NYSE:EW) last released its earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.67. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.57 billion. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 22.56%. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.59 earnings per share. Analysts forecast that Edwards Lifesciences Co. will post 2.57 EPS for the current fiscal year.

Insider Transactions at Edwards Lifesciences

In other news, insider Larry L. Wood sold 25,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $65.91, for a total transaction of $1,647,750.00. Following the completion of the transaction, the insider now directly owns 198,526 shares of the company’s stock, valued at approximately $13,084,848.66. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, VP Daveen Chopra sold 1,250 shares of Edwards Lifesciences stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total transaction of $87,437.50. Following the sale, the vice president now directly owns 29,333 shares in the company, valued at $2,051,843.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Larry L. Wood sold 25,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $65.91, for a total transaction of $1,647,750.00. Following the completion of the transaction, the insider now owns 198,526 shares of the company’s stock, valued at $13,084,848.66. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 41,250 shares of company stock valued at $2,746,988. Insiders own 1.27% 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.