Groesbeck Investment Management Corp NJ Takes $200,000 Position in Edwards Lifesciences Co. (NYSE:EW)

Groesbeck Investment Management Corp NJ bought a new stake in shares of Edwards Lifesciences Co. (NYSE:EW) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,700 shares of the medical research company’s stock, valued at approximately $200,000.

A number of other institutional investors have also recently modified their holdings of the business. Bowman & Co S.C. grew its position in shares of Edwards Lifesciences by 1.2% during the 4th quarter. Bowman & Co S.C. now owns 12,487 shares of the medical research company’s stock valued at $924,000 after acquiring an additional 148 shares during the period. Mount Yale Investment Advisors LLC boosted its holdings in Edwards Lifesciences by 1.9% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 8,563 shares of the medical research company’s stock worth $634,000 after buying an additional 162 shares during the last quarter. JFS Wealth Advisors LLC boosted its holdings in Edwards Lifesciences by 31.1% in the 3rd quarter. JFS Wealth Advisors LLC now owns 700 shares of the medical research company’s stock worth $46,000 after buying an additional 166 shares during the last quarter. Seascape Capital Management boosted its holdings in Edwards Lifesciences by 0.5% in the 3rd quarter. Seascape Capital Management now owns 32,989 shares of the medical research company’s stock worth $2,177,000 after buying an additional 174 shares during the last quarter. Finally, Cooper Financial Group boosted its holdings in Edwards Lifesciences by 2.8% in the 4th quarter. Cooper Financial Group now owns 6,466 shares of the medical research company’s stock worth $479,000 after buying an additional 175 shares during the last quarter. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $65.57, for a total value of $327,850.00. Following the completion of the transaction, the vice president now owns 46,936 shares in the company, valued at $3,077,593.52. This represents a 9.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Daniel J. Lippis sold 500 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $68.76, for a total transaction of $34,380.00. Following the completion of the transaction, the vice president now owns 23,189 shares of the company’s stock, valued at $1,594,475.64. This represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,000 shares of company stock worth $547,430. Corporate insiders own 1.27% of the company’s stock.

Edwards Lifesciences Stock Performance

Shares of EW stock opened at $71.33 on Wednesday. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. The firm has a fifty day moving average price of $72.49 and a 200 day moving average price of $69.63. The company has a market cap of $42.07 billion, a P/E ratio of 10.29, a PEG ratio of 3.72 and a beta of 1.11. Edwards Lifesciences Co. has a 12 month low of $58.93 and a 12 month high of $96.12.

Wall Street Analyst Weigh In

EW has been the topic of several research analyst reports. Piper Sandler lowered their price objective on Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Daiwa America cut Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. Citigroup boosted their target price on Edwards Lifesciences from $81.00 to $83.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. boosted their target price on Edwards Lifesciences from $72.00 to $78.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Finally, Morgan Stanley restated an “equal weight” rating and set a $70.00 target price on shares of Edwards Lifesciences in a report on Friday, October 11th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $79.19.

Edwards Lifesciences 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.