Truvestments Capital LLC Buys Shares of 1,648 Edwards Lifesciences Co. (NYSE:EW)

Truvestments Capital LLC bought a new stake in shares of Edwards Lifesciences Co. (NYSE:EW) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 1,648 shares of the medical research company’s stock, valued at approximately $109,000.

Several other hedge funds also recently modified their holdings of the company. Park Avenue Securities LLC boosted its stake in shares of Edwards Lifesciences by 0.5% during the 2nd quarter. Park Avenue Securities LLC now owns 23,484 shares of the medical research company’s stock worth $2,169,000 after purchasing an additional 108 shares during the last quarter. City State Bank boosted its position in shares of Edwards Lifesciences by 16.5% in the second quarter. City State Bank now owns 917 shares of the medical research company’s stock worth $85,000 after acquiring an additional 130 shares during the last quarter. Stableford Capital II LLC boosted its position in shares of Edwards Lifesciences by 2.7% in the second quarter. Stableford Capital II LLC now owns 6,104 shares of the medical research company’s stock worth $533,000 after acquiring an additional 159 shares during the last quarter. Purus Wealth Management LLC boosted its position in shares of Edwards Lifesciences by 5.2% in the second quarter. Purus Wealth Management LLC now owns 3,212 shares of the medical research company’s stock worth $297,000 after acquiring an additional 160 shares during the last quarter. Finally, Busey Bank boosted its position in shares of Edwards Lifesciences by 1.9% in the second quarter. Busey Bank now owns 8,838 shares of the medical research company’s stock worth $816,000 after acquiring an additional 165 shares during the last quarter. 79.46% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $69.51, for a total transaction of $347,550.00. Following the completion of the transaction, the vice president now owns 46,936 shares of the company’s stock, valued at approximately $3,262,521.36. The trade was a 9.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Larry L. Wood sold 25,000 shares of the business’s stock in a transaction 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 directly owns 198,526 shares of the company’s stock, 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. Insiders sold a total of 40,000 shares of company stock valued at $2,657,000 over the last 90 days. 1.29% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently commented on EW shares. Truist Financial cut their price target on shares of Edwards Lifesciences from $71.00 to $70.00 and set a “hold” rating on the stock in a report on Friday, October 25th. Daiwa America lowered shares of Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. Robert W. Baird cut their price target on shares of Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Evercore ISI cut their price target on shares of Edwards Lifesciences from $76.00 to $70.00 and set an “in-line” rating on the stock in a report on Tuesday, October 1st. Finally, Barclays cut their price target on shares of Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Monday, September 9th. Seventeen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $75.67.

Edwards Lifesciences Stock Performance

Edwards Lifesciences stock opened at $71.56 on Wednesday. The company has a market cap of $42.20 billion, a PE ratio of 10.33, a P/E/G ratio of 3.96 and a beta of 1.12. The company has a fifty day moving average price of $67.83 and a two-hundred day moving average price of $75.37. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89. Edwards Lifesciences Co. has a 12 month low of $58.93 and a 12 month 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 EPS for the quarter, hitting analysts’ consensus estimates of $0.67. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.57 billion. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. The firm’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.59 earnings per share. Research analysts expect that Edwards Lifesciences Co. will post 2.57 earnings per share for the current year.

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.