Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Position in Edwards Lifesciences Co. (NYSE:EW)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Edwards Lifesciences Co. (NYSE:EW) by 9.2% in the third quarter, HoldingsChannel reports. The fund owned 478,418 shares of the medical research company’s stock after purchasing an additional 40,348 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Edwards Lifesciences were worth $31,571,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. FORA Capital LLC purchased a new stake in shares of Edwards Lifesciences during the third quarter valued at approximately $5,805,000. Blueshift Asset Management LLC bought a new stake in Edwards Lifesciences during the 3rd quarter valued at $294,000. Glenmede Trust Co. NA boosted its position in Edwards Lifesciences by 6.0% during the 3rd quarter. Glenmede Trust Co. NA now owns 381,168 shares of the medical research company’s stock valued at $25,153,000 after buying an additional 21,505 shares during the period. Townsquare Capital LLC grew its holdings in Edwards Lifesciences by 20.5% in the 3rd quarter. Townsquare Capital LLC now owns 5,208 shares of the medical research company’s stock worth $344,000 after acquiring an additional 886 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Edwards Lifesciences in the third quarter valued at about $13,635,000. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

Edwards Lifesciences Price Performance

Shares of NYSE:EW opened at $72.07 on Friday. The business has a fifty day moving average price of $68.01 and a 200-day moving average price of $75.32. 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 has a market capitalization of $42.51 billion, a PE ratio of 10.40, a PEG ratio of 4.01 and a beta of 1.12. Edwards Lifesciences Co. has a 1-year low of $58.93 and a 1-year high of $96.12.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Thursday, October 24th. The medical research company reported $0.67 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.67. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.57 billion. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. Edwards Lifesciences’s revenue was up 8.9% compared to the same quarter last year. During the same period last year, the business earned $0.59 EPS. As a group, equities analysts expect that Edwards Lifesciences Co. will post 2.57 EPS for the current fiscal year.

Insider Activity at Edwards Lifesciences

In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $69.51, for a total transaction of $347,550.00. Following the sale, the vice president now owns 46,936 shares of the company’s stock, valued at $3,262,521.36. This trade represents a 9.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Larry L. Wood sold 25,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $65.91, for a total transaction of $1,647,750.00. Following the transaction, the insider now owns 198,526 shares in the company, valued at approximately $13,084,848.66. This trade represents a 11.18 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,000 shares of company stock valued at $2,657,000. 1.27% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Piper Sandler dropped their target price on shares of Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Canaccord Genuity Group cut their price objective on Edwards Lifesciences from $66.00 to $63.00 and set a “hold” rating on the stock in a research report on Friday, October 25th. Citigroup decreased their target price on Edwards Lifesciences from $83.00 to $77.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Daiwa America lowered Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Edwards Lifesciences from $72.00 to $78.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Seventeen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Edwards Lifesciences has a consensus rating of “Hold” and a consensus price target of $76.85.

Edwards Lifesciences Company 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.