Empowered Funds LLC boosted its stake in Edwards Lifesciences Corporation (NYSE:EW – Free Report) by 154.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,019 shares of the medical research company’s stock after purchasing an additional 49,800 shares during the period. Empowered Funds LLC’s holdings in Edwards Lifesciences were worth $6,568,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the stock. MV Capital Management Inc. acquired a new stake in shares of Edwards Lifesciences in the fourth quarter valued at about $26,000. Hanson & Doremus Investment Management purchased a new stake in shares of Edwards Lifesciences during the 1st quarter valued at about $25,000. Kemnay Advisory Services Inc. acquired a new position in Edwards Lifesciences during the 4th quarter worth approximately $27,000. JPL Wealth Management LLC acquired a new position in Edwards Lifesciences during the 3rd quarter worth approximately $25,000. Finally, Hilton Head Capital Partners LLC acquired a new position in Edwards Lifesciences during the 4th quarter worth approximately $28,000. 79.46% of the stock is owned by hedge funds and other institutional investors.
Edwards Lifesciences Price Performance
EW stock opened at $86.17 on Friday. The company has a quick ratio of 3.63, a current ratio of 4.42 and a debt-to-equity ratio of 0.06. Edwards Lifesciences Corporation has a 52-week low of $72.30 and a 52-week high of $96.29. The stock’s 50 day moving average is $87.91 and its two-hundred day moving average is $83.89. The company has a market capitalization of $49.62 billion, a PE ratio of 49.52, a P/E/G ratio of 2.18 and a beta of 0.86.
Wall Street Analyst Weigh In
Several analysts have issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Edwards Lifesciences from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. Robert W. Baird boosted their target price on shares of Edwards Lifesciences from $85.00 to $87.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. TD Cowen restated a “buy” rating on shares of Edwards Lifesciences in a research note on Tuesday, July 21st. Citigroup raised their price target on shares of Edwards Lifesciences from $101.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Finally, Evercore reaffirmed an “outperform” rating and set a $100.00 price target on shares of Edwards Lifesciences in a research note on Monday, July 6th. Seventeen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $100.27.
View Our Latest Research Report on Edwards Lifesciences
Insider Buying and Selling at Edwards Lifesciences
In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 23,145 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $86.42, for a total transaction of $2,000,190.90. Following the completion of the transaction, the vice president directly owned 98,611 shares of the company’s stock, valued at $8,521,962.62. This trade represents a 19.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Daniel J. Lippis sold 1,019 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $83.98, for a total transaction of $85,575.62. Following the completion of the sale, the vice president directly owned 33,682 shares of the company’s stock, valued at $2,828,614.36. The trade was a 2.94% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 44,558 shares of company stock worth $3,770,939 in the last ninety days. 0.31% of the stock is owned by insiders.
About Edwards Lifesciences
Edwards Lifesciences is a medical technology company focused on products and therapies for structural heart disease and critical care monitoring. The company designs, develops and manufactures prosthetic heart valves and related delivery systems used in both surgical and minimally invasive (transcatheter) procedures. Its portfolio addresses a range of valvular conditions, with an emphasis on technologies that enable transcatheter aortic valve replacement (TAVR) as an alternative to open-heart surgery.
In addition to transcatheter heart valves—including the widely recognized SAPIEN family—Edwards offers surgical tissue valves and ancillary devices used by cardiac surgeons, interventional cardiologists and hospital teams.
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