Allstate Corp Takes $1.32 Million Position in Edwards Lifesciences Co. (NYSE:EW)

Allstate Corp acquired a new position in shares of Edwards Lifesciences Co. (NYSE:EW) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 17,775 shares of the medical research company’s stock, valued at approximately $1,316,000.

Other institutional investors have also recently bought and sold shares of the company. Townsquare Capital LLC grew its position in Edwards Lifesciences by 20.5% in the third 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 in the last quarter. Public Sector Pension Investment Board increased its position in Edwards Lifesciences by 12.5% during the third quarter. Public Sector Pension Investment Board now owns 26,167 shares of the medical research company’s stock worth $1,727,000 after buying an additional 2,900 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in Edwards Lifesciences by 56.7% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 82,974 shares of the medical research company’s stock valued at $5,475,000 after buying an additional 30,038 shares in the last quarter. Edgestream Partners L.P. lifted its position in shares of Edwards Lifesciences by 117.1% in the third quarter. Edgestream Partners L.P. now owns 10,294 shares of the medical research company’s stock worth $679,000 after buying an additional 5,552 shares during the last quarter. Finally, Maverick Capital Ltd. bought a new stake in shares of Edwards Lifesciences during the 3rd quarter worth about $1,953,000. Institutional investors and hedge funds own 79.46% of the company’s stock.

Insider Transactions at Edwards Lifesciences

In related news, CEO Bernard J. Zovighian sold 6,164 shares of Edwards Lifesciences stock in a transaction on Monday, March 10th. The stock was sold at an average price of $69.51, for a total transaction of $428,459.64. Following the completion of the sale, the chief executive officer now directly owns 59,083 shares of the company’s stock, valued at $4,106,859.33. The trade was a 9.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Daniel J. Lippis sold 500 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $68.76, for a total value of $34,380.00. Following the completion of the transaction, the vice president now directly owns 23,189 shares in the company, valued at $1,594,475.64. The trade was a 2.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 62,553 shares of company stock worth $4,513,064 in the last quarter. 1.29% of the stock is owned by company insiders.

Edwards Lifesciences Stock Performance

EW stock opened at $70.90 on Monday. The stock has a market capitalization of $41.68 billion, a PE ratio of 10.17, a price-to-earnings-growth ratio of 4.82 and a beta of 1.12. 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 50 day moving average price of $71.49 and a 200 day moving average price of $70.53. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $95.73.

Edwards Lifesciences (NYSE:EW) last released its earnings results on Tuesday, February 11th. The medical research company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. Analysts forecast that Edwards Lifesciences Co. will post 2.45 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on EW shares. Canaccord Genuity Group raised their price objective on Edwards Lifesciences from $68.00 to $71.00 and gave the company a “hold” rating in a research note on Thursday, February 13th. Barclays upped their price objective on shares of Edwards Lifesciences from $88.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $85.00 target price on shares of Edwards Lifesciences in a report on Wednesday, February 12th. Evercore ISI decreased their price target on shares of Edwards Lifesciences from $75.00 to $73.00 and set an “in-line” rating for the company in a report on Wednesday, February 12th. Finally, Truist Financial reiterated a “hold” rating and issued a $78.00 price objective (up from $70.00) on shares of Edwards Lifesciences in a research note on Thursday, December 5th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $79.95.

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.