Covestor Ltd Purchases 195 Shares of Edwards Lifesciences Co. (NYSE:EW)

Covestor Ltd boosted its position in shares of Edwards Lifesciences Co. (NYSE:EW) by 13.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,647 shares of the medical research company’s stock after acquiring an additional 195 shares during the period. Covestor Ltd’s holdings in Edwards Lifesciences were worth $122,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Crowley Wealth Management Inc. acquired a new position in shares of Edwards Lifesciences during the 4th quarter worth about $26,000. Millstone Evans Group LLC acquired a new position in shares of Edwards Lifesciences during the fourth quarter worth approximately $29,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Edwards Lifesciences in the fourth quarter valued at approximately $30,000. Roble Belko & Company Inc acquired a new stake in shares of Edwards Lifesciences in the fourth quarter worth $46,000. Finally, Catalyst Capital Advisors LLC bought a new position in Edwards Lifesciences during the fourth quarter worth $54,000. 79.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Wolfe Research downgraded shares of Edwards Lifesciences from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 12th. Bank of America upgraded shares of Edwards Lifesciences from a “neutral” rating to a “buy” rating and increased their target price for the company from $82.00 to $90.00 in a research note on Monday, December 16th. Piper Sandler boosted their price target on Edwards Lifesciences from $70.00 to $73.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Morgan Stanley raised their price objective on Edwards Lifesciences from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. Finally, Truist Financial lowered their price objective on Edwards Lifesciences from $78.00 to $75.00 and set a “hold” rating on the stock in a research report on Friday. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Edwards Lifesciences presently has a consensus rating of “Hold” and an average price target of $78.55.

Insider Buying and Selling at Edwards Lifesciences

In related news, CEO Bernard J. Zovighian sold 6,164 shares of Edwards Lifesciences stock in a transaction on Monday, March 10th. The stock was sold at an average price of $69.51, for a total transaction of $428,459.64. Following the completion of the sale, the chief executive officer now directly owns 59,083 shares of the company’s stock, valued at $4,106,859.33. The trade was a 9.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Scott B. Ullem sold 11,250 shares of the stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $70.87, for a total value of $797,287.50. Following the completion of the transaction, the chief financial officer now directly owns 30,387 shares in the company, valued at $2,153,526.69. The trade was a 27.02 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 62,853 shares of company stock valued at $4,534,247. 1.29% of the stock is currently owned by insiders.

Edwards Lifesciences Price Performance

EW opened at $69.32 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89. The company’s 50 day simple moving average is $71.32 and its 200-day simple moving average is $70.70. Edwards Lifesciences Co. has a one year low of $58.93 and a one year high of $95.25. The stock has a market capitalization of $40.75 billion, a P/E ratio of 9.95, a price-to-earnings-growth ratio of 4.82 and a beta of 1.15.

Edwards Lifesciences (NYSE:EW) last released its earnings results on Tuesday, February 11th. The medical research company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.55 by $0.04. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. Sell-side analysts anticipate that Edwards Lifesciences Co. will post 2.45 earnings per share for the current fiscal year.

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.