Edwards Lifesciences Co. (NYSE:EW) Position Boosted by abrdn plc

abrdn plc increased its position in Edwards Lifesciences Co. (NYSE:EW) by 1.7% in the third quarter, Holdings Channel reports. The firm owned 1,311,844 shares of the medical research company’s stock after purchasing an additional 22,271 shares during the quarter. abrdn plc’s holdings in Edwards Lifesciences were worth $85,847,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EW. Crewe Advisors LLC bought a new position in shares of Edwards Lifesciences in the 1st quarter worth about $28,000. First Community Trust NA bought a new position in Edwards Lifesciences in the second quarter worth about $29,000. Webster Bank N. A. acquired a new position in Edwards Lifesciences in the second quarter valued at approximately $39,000. Peoples Bank KS bought a new position in shares of Edwards Lifesciences during the third quarter valued at approximately $40,000. Finally, Versant Capital Management Inc grew its holdings in shares of Edwards Lifesciences by 206.3% during the second quarter. Versant Capital Management Inc now owns 484 shares of the medical research company’s stock valued at $45,000 after purchasing an additional 326 shares during the last quarter. 79.46% of the stock is owned by institutional investors.

Insider Activity at Edwards Lifesciences

In other Edwards Lifesciences news, VP Daveen Chopra sold 1,250 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total transaction of $87,437.50. Following the sale, the vice president now directly owns 29,333 shares of the company’s stock, valued at $2,051,843.35. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total transaction of $330,400.00. Following the transaction, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,101,530.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Daveen Chopra sold 1,250 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total transaction of $87,437.50. Following the completion of the sale, the vice president now owns 29,333 shares of the company’s stock, valued at approximately $2,051,843.35. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,250 shares of company stock worth $1,099,238. 1.29% of the stock is owned by corporate insiders.

Edwards Lifesciences Stock Performance

Shares of NYSE EW opened at $69.37 on Wednesday. The stock’s fifty day simple moving average is $68.10 and its 200 day simple moving average is $77.99. The stock has a market capitalization of $41.80 billion, a price-to-earnings ratio of 29.90, a PEG ratio of 3.00 and a beta of 1.13. The company has a quick ratio of 2.87, a current ratio of 3.71 and a debt-to-equity ratio of 0.08. Edwards Lifesciences Co. has a 52-week low of $58.93 and a 52-week high of $96.12.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data on Thursday, October 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.67. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the previous year, the company earned $0.59 EPS. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Edwards Lifesciences Co. will post 2.61 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

EW has been the subject of a number of analyst reports. Oppenheimer restated an “outperform” rating and set a $90.00 price objective on shares of Edwards Lifesciences in a research report on Thursday, September 12th. Citigroup reduced their price target on shares of Edwards Lifesciences from $83.00 to $77.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Stifel Nicolaus dropped their price objective on shares of Edwards Lifesciences from $85.00 to $70.00 and set a “hold” rating on the stock in a report on Thursday, July 25th. Wolfe Research raised shares of Edwards Lifesciences from an “underperform” rating to a “peer perform” rating in a research note on Monday, July 29th. Finally, Bank of America lowered shares of Edwards Lifesciences from a “buy” rating to a “neutral” rating and dropped their price target for the company from $105.00 to $75.00 in a research note on Thursday, July 25th. Fifteen equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Edwards Lifesciences presently has a consensus rating of “Hold” and an average target price of $75.67.

About Edwards Lifesciences

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.