Edwards Lifesciences (NYSE:EW) Sets New 52-Week High – Should You Buy?

Edwards Lifesciences Corporation (NYSE:EW) shares reached a new 52-week high on Wednesday. The company traded as high as $99.68 and last traded at $99.1210, with a volume of 415,242 shares trading hands. The stock had previously closed at $95.19.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on EW. Weiss Ratings restated a “hold (c)” rating on shares of Edwards Lifesciences in a research note on Thursday, October 15th. Evercore reiterated an “outperform” rating on shares of Edwards Lifesciences in a research note on Friday, October 23rd. JPMorgan Chase & Co. increased their price objective on Edwards Lifesciences from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, October 2nd. Deutsche Bank Aktiengesellschaft set a $104.00 target price on Edwards Lifesciences in a research report on Tuesday, October 27th. Finally, Raymond James Financial raised their target price on Edwards Lifesciences from $100.00 to $103.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Edwards Lifesciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.88.

Edwards Lifesciences Stock Performance

The firm has a market capitalization of $56.93 billion, a PE ratio of 56.56, a P/E/G ratio of 2.44 and a beta of 0.85. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.52 and a quick ratio of 3.77. The company’s fifty day simple moving average is $88.31 and its 200 day simple moving average is $85.53.

Insider Transactions at Edwards Lifesciences

In related news, SVP Andrew M. Dahl sold 544 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $91.06, for a total transaction of $49,536.64. Following the sale, the senior vice president directly owned 14,868 shares in the company, valued at approximately $1,353,880.08. This represents a 3.53% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Daniel J. Lippis sold 619 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $92.03, for a total transaction of $56,966.57. Following the completion of the transaction, the vice president directly owned 40,034 shares of the company’s stock, valued at approximately $3,684,329.02. This trade represents a 1.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 5,045 shares of company stock worth $451,596 over the last quarter. Corporate insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Edwards Lifesciences

Several institutional investors have recently made changes to their positions in the stock. Flagship Harbor Advisors LLC lifted its holdings in Edwards Lifesciences by 1.2% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 10,615 shares of the medical research company’s stock worth $916,000 after purchasing an additional 125 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its stake in Edwards Lifesciences by 1.8% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 7,268 shares of the medical research company’s stock worth $627,000 after purchasing an additional 132 shares during the period. Calamos Wealth Management LLC grew its holdings in Edwards Lifesciences by 6.1% during the 3rd quarter. Calamos Wealth Management LLC now owns 2,438 shares of the medical research company’s stock valued at $210,000 after buying an additional 141 shares in the last quarter. Signaturefd LLC grew its holdings in Edwards Lifesciences by 1.4% during the 3rd quarter. Signaturefd LLC now owns 10,034 shares of the medical research company’s stock valued at $866,000 after buying an additional 142 shares in the last quarter. Finally, NorthRock Partners LLC increased its position in shares of Edwards Lifesciences by 1.0% during the second quarter. NorthRock Partners LLC now owns 16,191 shares of the medical research company’s stock valued at $1,465,000 after buying an additional 153 shares during the period. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Company Profile

Edwards Lifesciences Corporation (NYSE:EW) is a medical technology company focused on therapies for structural heart disease and critical care. The company develops and manufactures products designed to treat conditions affecting the heart’s valves, including aortic, mitral and tricuspid valve disorders.

Its portfolio includes transcatheter aortic valve replacement systems, transcatheter mitral and tricuspid therapies, surgical heart valves and valve-repair technologies. Edwards also provides related delivery systems and other medical devices used by physicians in minimally invasive and open-heart procedures.

Founded in 1958 by Miles Lowell Edwards, the company is headquartered in Irvine, California, and serves healthcare providers and patients internationally.