Sanctuary Advisors LLC Invests $8.92 Million in Edwards Lifesciences Co. (NYSE:EW)

Sanctuary Advisors LLC purchased a new stake in Edwards Lifesciences Co. (NYSE:EW) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 103,173 shares of the medical research company’s stock, valued at approximately $8,917,000.

A number of other institutional investors have also recently added to or reduced their stakes in EW. Eagle Asset Management Inc. acquired a new position in Edwards Lifesciences in the 4th quarter valued at about $241,000. Lake Street Advisors Group LLC acquired a new position in Edwards Lifesciences in the fourth quarter valued at approximately $200,000. Tower Research Capital LLC TRC grew its position in Edwards Lifesciences by 62.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 71,722 shares of the medical research company’s stock worth $5,469,000 after acquiring an additional 27,707 shares during the period. Public Employees Retirement Association of Colorado increased its stake in Edwards Lifesciences by 90.7% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 90,061 shares of the medical research company’s stock worth $6,867,000 after acquiring an additional 42,838 shares during the last quarter. Finally, Cibc World Markets Corp increased its stake in Edwards Lifesciences by 132.8% during the fourth quarter. Cibc World Markets Corp now owns 78,110 shares of the medical research company’s stock worth $5,956,000 after acquiring an additional 44,557 shares during the last quarter. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on EW. Piper Sandler lowered their price target on Edwards Lifesciences from $88.00 to $73.00 and set a “neutral” rating for the company in a report on Thursday, July 25th. The Goldman Sachs Group dropped their price target on shares of Edwards Lifesciences from $107.00 to $91.00 and set a “buy” rating for the company in a research report on Friday, July 26th. Citigroup decreased their price objective on shares of Edwards Lifesciences from $83.00 to $77.00 and set a “buy” rating on the stock in a report on Tuesday. Daiwa America upgraded shares of Edwards Lifesciences to a “strong-buy” rating in a report on Wednesday, July 31st. Finally, Bank of America lowered Edwards Lifesciences from a “buy” rating to a “neutral” rating and cut their target price for the company from $105.00 to $75.00 in a research 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $78.23.

Edwards Lifesciences Stock Up 0.3 %

Shares of NYSE:EW opened at $65.37 on Friday. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $96.12. The firm’s 50 day moving average price is $66.58 and its 200 day moving average price is $81.28. 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 stock has a market cap of $39.39 billion, a price-to-earnings ratio of 28.18, a price-to-earnings-growth ratio of 2.80 and a beta of 1.13.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Wednesday, July 24th. The medical research company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.65 billion. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The company’s revenue was up 6.7% on a year-over-year basis. During the same period last year, the business earned $0.66 EPS. As a group, equities research analysts predict that Edwards Lifesciences Co. will post 2.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Daveen Chopra sold 1,250 shares of the 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s 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 completion of the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at $3,133,916.72. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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 directly owns 29,333 shares in the company, valued at approximately $2,051,843.35. The disclosure for this sale can be found here. Insiders sold 16,250 shares of company stock valued at $1,218,138 in the last ninety days. 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.