Wahed Invest LLC Has $958,000 Stock Holdings in Edwards Lifesciences Co. (NYSE:EW)

Wahed Invest LLC lifted its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 9.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,517 shares of the medical research company’s stock after buying an additional 1,308 shares during the period. Wahed Invest LLC’s holdings in Edwards Lifesciences were worth $958,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of EW. First Community Trust NA acquired a new position in shares of Edwards Lifesciences during the 2nd quarter worth about $29,000. FSA Wealth Management LLC acquired a new position in shares of Edwards Lifesciences during the 3rd quarter worth about $30,000. Prospera Private Wealth LLC acquired a new position in shares of Edwards Lifesciences during the 3rd quarter worth about $32,000. Avior Wealth Management LLC boosted its stake in shares of Edwards Lifesciences by 138.7% during the 3rd quarter. Avior Wealth Management LLC now owns 530 shares of the medical research company’s stock worth $35,000 after buying an additional 308 shares during the last quarter. Finally, Webster Bank N. A. acquired a new position in shares of Edwards Lifesciences during the 2nd quarter worth about $39,000. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on EW shares. Truist Financial reiterated a “hold” rating and issued a $78.00 target price (up from $70.00) on shares of Edwards Lifesciences in a research note on Thursday. Royal Bank of Canada raised their target price on shares of Edwards Lifesciences from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday. Evercore ISI cut their target price on shares of Edwards Lifesciences from $76.00 to $70.00 and set an “in-line” rating for the company in a research note on Tuesday, October 1st. Morgan Stanley reiterated an “equal weight” rating and issued a $70.00 target price on shares of Edwards Lifesciences in a research note on Friday, October 11th. Finally, The Goldman Sachs Group raised their target price on shares of Edwards Lifesciences from $81.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday. Seventeen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $78.35.

Edwards Lifesciences Stock Performance

NYSE EW opened at $72.43 on Friday. 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 market capitalization of $42.72 billion, a price-to-earnings ratio of 10.45, a P/E/G ratio of 3.95 and a beta of 1.12. The firm’s 50 day simple moving average is $68.55 and its 200 day simple moving average is $74.76. Edwards Lifesciences Co. has a 1 year low of $58.93 and a 1 year high of $96.12.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results 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. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates 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 for the quarter was up 8.9% on a year-over-year basis. During the same quarter last year, the business posted $0.59 EPS. As a group, research analysts expect that Edwards Lifesciences Co. will post 2.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences 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 transaction, the vice president now owns 46,936 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Larry L. Wood sold 25,000 shares of Edwards Lifesciences stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $65.91, for a total transaction of $1,647,750.00. Following the transaction, the insider now owns 198,526 shares in the company, 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. In the last 90 days, insiders have sold 40,000 shares of company stock worth $2,657,000. Corporate insiders own 1.29% of the company’s stock.

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.