LRI Investments LLC Raises Position in Edwards Lifesciences Co. (NYSE:EW)

LRI Investments LLC increased its stake in Edwards Lifesciences Co. (NYSE:EW) by 4.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,528 shares of the medical research company’s stock after purchasing an additional 572 shares during the quarter. LRI Investments LLC’s holdings in Edwards Lifesciences were worth $1,076,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Crowley Wealth Management Inc. purchased a new position in shares of Edwards Lifesciences during the 4th quarter valued at $26,000. Millstone Evans Group LLC bought a new stake in Edwards Lifesciences in the 4th quarter valued at about $29,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Edwards Lifesciences during the fourth quarter valued at about $30,000. Roble Belko & Company Inc bought a new position in Edwards Lifesciences during the fourth quarter worth about $46,000. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of Edwards Lifesciences in the fourth quarter worth about $54,000. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Insider Activity

In related news, CFO Scott B. Ullem sold 11,250 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $75.76, for a total transaction of $852,300.00. Following the completion of the sale, the chief financial officer now directly owns 30,561 shares in the company, valued at $2,315,301.36. This represents a 26.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Donald E. Bobo, Jr. sold 9,500 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $67.96, for a total transaction of $645,620.00. Following the completion of the sale, the vice president now directly owns 46,936 shares in the company, valued at approximately $3,189,770.56. This trade represents a 16.83% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 89,681 shares of company stock valued at $6,492,703. 1.29% of the stock is currently owned by company insiders.

Analyst Ratings Changes

EW has been the subject of several analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $85.00 price objective on shares of Edwards Lifesciences in a report on Wednesday, February 12th. Evercore ISI cut their price target on Edwards Lifesciences from $75.00 to $73.00 and set an “in-line” rating for the company in a report on Wednesday, February 12th. Truist Financial decreased their price objective on Edwards Lifesciences from $78.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, April 11th. Morgan Stanley raised their target price 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. Finally, Canaccord Genuity Group upped their price target on Edwards Lifesciences from $71.00 to $75.00 and gave the company a “hold” rating in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $79.45.

Edwards Lifesciences Price Performance

Shares of NYSE:EW opened at $73.82 on Monday. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06. The stock has a market cap of $43.40 billion, a PE ratio of 10.59, a PEG ratio of 4.82 and a beta of 1.12. The company’s fifty day moving average is $71.48 and its 200 day moving average is $71.51. Edwards Lifesciences Co. has a 52 week low of $58.93 and a 52 week 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.04. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.40 billion. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. Edwards Lifesciences’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the company earned $0.66 EPS. Research analysts anticipate that Edwards Lifesciences Co. will post 2.45 earnings per share for the current year.

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.