Harrell Investment Partners LLC Purchases 5,811 Shares of Edwards Lifesciences Corporation (NYSE:EW)

Harrell Investment Partners LLC increased its position in shares of Edwards Lifesciences Corporation (NYSE:EW) by 50.6% during the first quarter, HoldingsChannel.com reports. The firm owned 17,296 shares of the medical research company’s stock after buying an additional 5,811 shares during the period. Harrell Investment Partners LLC’s holdings in Edwards Lifesciences were worth $1,254,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Alyeska Investment Group L.P. bought a new stake in shares of Edwards Lifesciences during the fourth quarter valued at approximately $49,038,000. Simplify Asset Management Inc. acquired a new stake in Edwards Lifesciences in the 4th quarter valued at $5,979,000. Truist Financial Corp boosted its stake in Edwards Lifesciences by 19.3% in the 4th quarter. Truist Financial Corp now owns 41,340 shares of the medical research company’s stock valued at $3,060,000 after buying an additional 6,676 shares in the last quarter. Assetmark Inc. boosted its stake in Edwards Lifesciences by 786.9% in the 4th quarter. Assetmark Inc. now owns 1,082 shares of the medical research company’s stock valued at $80,000 after buying an additional 960 shares in the last quarter. Finally, Advanced Portfolio Management LLC acquired a new stake in Edwards Lifesciences in the 4th quarter valued at $328,000. 79.46% of the stock is currently owned by institutional investors.

Insider Activity

In other Edwards Lifesciences news, CEO Bernard J. Zovighian sold 5,980 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $74.91, for a total value of $447,961.80. Following the transaction, the chief executive officer now owns 58,284 shares of the company’s stock, valued at approximately $4,366,054.44. This represents a 9.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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. Insiders have sold 51,898 shares of company stock valued at $3,796,154 over the last 90 days. 1.29% of the stock is owned by company insiders.

Edwards Lifesciences Price Performance

Edwards Lifesciences stock opened at $73.94 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.66 and a current ratio of 4.45. Edwards Lifesciences Corporation has a 52 week low of $58.93 and a 52 week high of $95.25. The firm has a market cap of $43.37 billion, a P/E ratio of 10.56, a P/E/G ratio of 3.69 and a beta of 1.12. The business’s fifty day moving average is $74.85 and its two-hundred day moving average is $72.96.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.04. Edwards Lifesciences had a return on equity of 16.62% and a net margin of 75.48%. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the firm posted $0.66 earnings per share. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. Equities research analysts forecast that Edwards Lifesciences Corporation will post 2.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on EW. Citigroup reaffirmed a “buy” rating and issued a $95.00 price target (up previously from $84.00) on shares of Edwards Lifesciences in a research note on Thursday, May 22nd. Piper Sandler boosted their price target on Edwards Lifesciences from $80.00 to $83.00 and gave the company an “overweight” rating in a research note on Tuesday, May 13th. Canaccord Genuity Group boosted their price target on Edwards Lifesciences from $71.00 to $75.00 and gave the company a “hold” rating in a research note on Friday, April 25th. Robert W. Baird boosted their price target on Edwards Lifesciences from $72.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, April 24th. Finally, Truist Financial decreased their price target 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. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $80.20.

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.