Ritholtz Wealth Management raised its stake in Edwards Lifesciences Co. (NYSE:EW – Get Rating) by 31.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,361 shares of the medical research company's stock after purchasing an additional 813 shares during the quarter. Ritholtz Wealth Management's holdings in Edwards Lifesciences were worth $320,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. American National Bank boosted its stake in shares of Edwards Lifesciences by 99.1% during the 1st quarter. American National Bank now owns 233 shares of the medical research company's stock worth $27,000 after acquiring an additional 116 shares during the period. Core Alternative Capital boosted its stake in shares of Edwards Lifesciences by 513.2% during the 1st quarter. Core Alternative Capital now owns 233 shares of the medical research company's stock worth $27,000 after acquiring an additional 195 shares during the period. Rinkey Investments bought a new position in shares of Edwards Lifesciences during the 4th quarter worth approximately $29,000. JJJ Advisors Inc. boosted its stake in shares of Edwards Lifesciences by 79.1% during the 1st quarter. JJJ Advisors Inc. now owns 283 shares of the medical research company's stock worth $33,000 after acquiring an additional 125 shares during the period. Finally, Gemmer Asset Management LLC acquired a new stake in Edwards Lifesciences during the 1st quarter worth approximately $36,000. 81.33% of the stock is currently owned by institutional investors.
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In related news, VP Daveen Chopra sold 1,000 shares of the business's stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $102.49, for a total transaction of $102,490.00. Following the sale, the vice president now owns 18,911 shares in the company, valued at approximately $1,938,188.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Edwards Lifesciences news, VP Daveen Chopra sold 1,000 shares of the company's stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $102.49, for a total value of $102,490.00. Following the sale, the vice president now owns 18,911 shares in the company, valued at approximately $1,938,188.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Donald E. Bobo, Jr. sold 6,725 shares of the company's stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $97.60, for a total value of $656,360.00. Following the completion of the sale, the vice president now owns 62,561 shares in the company, valued at approximately $6,105,953.60. The disclosure for this sale can be found here. Insiders have sold 86,128 shares of company stock worth $8,223,839 in the last 90 days. Insiders own 1.29% of the company's stock.
Wall Street Analyst Weigh In
Several research firms recently weighed in on EW. StockNews.com raised Edwards Lifesciences from a "hold" rating to a "buy" rating in a report on Wednesday, August 17th. Canaccord Genuity Group cut Edwards Lifesciences from a "buy" rating to a "hold" rating and dropped their price target for the stock from $115.00 to $106.00 in a report on Friday, July 29th. Canaccord Genuity Group cut Edwards Lifesciences from a "buy" rating to a "hold" rating and dropped their price target for the stock from $115.00 to $106.00 in a report on Friday, July 29th. Cowen dropped their price target on Edwards Lifesciences from $140.00 to $125.00 in a report on Monday, July 11th. Finally, Truist Financial dropped their price target on Edwards Lifesciences from $117.00 to $112.00 and set a "buy" rating for the company in a report on Thursday, September 22nd. Three equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $125.81.Edwards Lifesciences Price Performance
Edwards Lifesciences stock opened at $83.59 on Tuesday. The stock has a market capitalization of $51.82 billion, a P/E ratio of 36.19, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14. Edwards Lifesciences Co. has a 52 week low of $82.92 and a 52 week high of $131.73. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.60 and a current ratio of 3.37. The stock has a fifty day moving average of $96.82 and a 200-day moving average of $101.51.
Edwards Lifesciences (NYSE:EW – Get Rating) last issued its quarterly earnings data on Thursday, July 28th. The medical research company reported $0.63 earnings per share for the quarter, hitting analysts' consensus estimates of $0.63. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.40 billion. Edwards Lifesciences had a return on equity of 24.77% and a net margin of 27.18%. Edwards Lifesciences's quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 EPS. On average, sell-side analysts expect that Edwards Lifesciences Co. will post 2.51 earnings per share for the current fiscal year.
Edwards Lifesciences Profile
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Edwards Lifesciences Corporation provides products and technologies for structural heart disease, and critical care and surgical monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of heart valves; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases.
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