Channing Capital Management LLC Acquires Shares of 125,371 Edwards Lifesciences Co. (NYSE:EW)

Channing Capital Management LLC bought a new stake in Edwards Lifesciences Co. (NYSE:EW) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 125,371 shares of the medical research company’s stock, valued at approximately $9,281,000.

A number of other large investors have also recently modified their holdings of the business. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Edwards Lifesciences during the 4th quarter worth $30,000. FSA Wealth Management LLC bought a new position in shares of Edwards Lifesciences in the third quarter worth about $30,000. Prospera Private Wealth LLC acquired a new stake in shares of Edwards Lifesciences in the 3rd quarter valued at approximately $32,000. Avior Wealth Management LLC grew its holdings in shares of Edwards Lifesciences by 138.7% during the 3rd quarter. Avior Wealth Management LLC now owns 530 shares of the medical research company’s stock valued at $35,000 after purchasing an additional 308 shares during the last quarter. Finally, Roble Belko & Company Inc acquired a new position in Edwards Lifesciences during the 4th quarter worth approximately $46,000. Institutional investors and hedge funds own 79.46% of the company’s stock.

Edwards Lifesciences Trading Down 2.6 %

NYSE EW opened at $68.49 on Tuesday. The stock has a market capitalization of $40.26 billion, a P/E ratio of 9.83, a P/E/G ratio of 4.82 and a beta of 1.12. The business has a 50 day simple moving average of $72.14 and a 200 day simple moving average of $70.37. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89. Edwards Lifesciences Co. has a one year low of $58.93 and a one year high of $96.12.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Tuesday, February 11th. The medical research company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.55 by $0.04. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. Research analysts expect that Edwards Lifesciences Co. will post 2.45 earnings per share for the current year.

Insider Activity

In other Edwards Lifesciences news, VP Daniel J. Lippis sold 400 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $69.48, for a total transaction of $27,792.00. Following the completion of the sale, the vice president now owns 22,588 shares in the company, valued at approximately $1,569,414.24. The trade was a 1.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Bernard J. Zovighian sold 6,164 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $69.51, for a total transaction of $428,459.64. Following the completion of the transaction, the chief executive officer now directly owns 59,083 shares in the company, valued at $4,106,859.33. This trade represents a 9.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,303 shares of company stock worth $3,255,356. Company insiders own 1.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. The Goldman Sachs Group raised their target price on shares of Edwards Lifesciences from $81.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Royal Bank of Canada restated an “outperform” rating and set a $85.00 price objective on shares of Edwards Lifesciences in a research report on Wednesday, February 12th. Piper Sandler upped their target price on Edwards Lifesciences from $70.00 to $73.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Barclays lifted their price target on Edwards Lifesciences from $88.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Finally, Bank of America raised Edwards Lifesciences from a “neutral” rating to a “buy” rating and upped their price objective for the company from $82.00 to $90.00 in a research note on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $79.95.

Edwards Lifesciences Company 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.