Farallon Capital Management LLC Invests $222,000 in Edwards Lifesciences Co. (NYSE:EW)

Farallon Capital Management LLC bought a new stake in shares of Edwards Lifesciences Co. (NYSE:EW) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,000 shares of the medical research company’s stock, valued at approximately $222,000.

Several other institutional investors and hedge funds have also recently modified their holdings of EW. Norges Bank bought a new position in shares of Edwards Lifesciences in the fourth quarter worth about $610,895,000. Jennison Associates LLC bought a new position in shares of Edwards Lifesciences during the fourth quarter valued at approximately $555,939,000. Vanguard Group Inc. increased its stake in Edwards Lifesciences by 10.4% in the 4th quarter. Vanguard Group Inc. now owns 69,132,036 shares of the medical research company’s stock worth $5,117,845,000 after buying an additional 6,537,494 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Edwards Lifesciences by 475.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 4,243,976 shares of the medical research company’s stock worth $314,182,000 after buying an additional 3,506,886 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Edwards Lifesciences in the fourth quarter worth approximately $213,844,000. 79.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on EW. Royal Bank of Canada restated an “outperform” rating and set a $85.00 target price on shares of Edwards Lifesciences in a research report on Wednesday, February 12th. Truist Financial lowered their target price on Edwards Lifesciences from $78.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, April 11th. Morgan Stanley boosted their price objective on Edwards Lifesciences from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 12th. Stifel Nicolaus raised shares of Edwards Lifesciences from a “hold” rating to a “buy” rating and boosted their price target for the company from $75.00 to $90.00 in a research report on Thursday, January 30th. Finally, Piper Sandler raised shares of Edwards Lifesciences from a “neutral” rating to an “overweight” rating and increased their price target for the company from $73.00 to $80.00 in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $79.45.

Edwards Lifesciences Price Performance

EW opened at $74.67 on Friday. The firm has a market capitalization of $43.89 billion, a P/E ratio of 10.71, a PEG ratio of 4.82 and a beta of 1.12. The stock has a fifty day moving average of $71.43 and a 200-day moving average of $71.47. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $95.25.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.60 by $0.04. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period last year, the company posted $0.66 earnings per share. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. Equities analysts forecast that Edwards Lifesciences Co. will post 2.45 EPS for the current fiscal year.

Insider Buying and Selling at Edwards Lifesciences

In related news, Director Steven R. Loranger sold 5,739 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $76.42, for a total value of $438,574.38. Following the completion of the sale, the director now directly owns 60,372 shares in the company, valued at approximately $4,613,628.24. The trade was a 8.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Donald E. Bobo, Jr. sold 9,500 shares of Edwards Lifesciences stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $67.96, for a total transaction of $645,620.00. Following the completion of the transaction, the vice president now directly owns 46,936 shares in the company, valued at approximately $3,189,770.56. This represents a 16.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 77,833 shares of company stock worth $5,611,023 over the last 90 days. 1.29% of the stock is currently owned by corporate insiders.

About Edwards Lifesciences

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.