Concord Wealth Partners Invests $64,000 in Edwards Lifesciences Co. (NYSE:EW)

Posted by on Apr 13th, 2023

Concord Wealth Partners acquired a new position in shares of Edwards Lifesciences Co. (NYSE:EW – Get Rating) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 860 shares of the medical research company’s stock, valued at approximately $64,000.

Several other large investors have also modified their holdings of EW. Bogart Wealth LLC purchased a new position in shares of Edwards Lifesciences during the 3rd quarter worth about $25,000. MV Capital Management Inc. raised its holdings in Edwards Lifesciences by 74.1% in the third quarter. MV Capital Management Inc. now owns 329 shares of the medical research company’s stock valued at $27,000 after buying an additional 140 shares during the period. Trifecta Capital Advisors LLC purchased a new position in Edwards Lifesciences in the fourth quarter valued at approximately $28,000. RFP Financial Group LLC purchased a new position in Edwards Lifesciences in the fourth quarter valued at approximately $53,000. Finally, Boit C F David purchased a new position in Edwards Lifesciences in the third quarter valued at approximately $54,000. 80.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Daveen Chopra sold 4,000 shares of the company’s stock in a transaction dated Wednesday, February 15th. The stock was sold at an average price of $76.01, for a total value of $304,040.00. Following the transaction, the vice president now owns 18,911 shares in the company, valued at approximately $1,437,425.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Daveen Chopra sold 4,000 shares of the company’s stock in a transaction dated Wednesday, February 15th. The stock was sold at an average price of $76.01, for a total value of $304,040.00. Following the transaction, the vice president now owns 18,911 shares in the company, valued at approximately $1,437,425.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael A. Mussallem sold 19,875 shares of the company’s stock in a transaction dated Friday, January 13th. The shares were sold at an average price of $78.09, for a total value of $1,552,038.75. Following the completion of the transaction, the chief executive officer now owns 157,353 shares in the company, valued at approximately $12,287,695.77. The disclosure for this sale can be found here. Insiders have sold 101,821 shares of company stock worth $7,940,297 in the last 90 days. Company insiders own 1.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on EW. UBS Group began coverage on shares of Edwards Lifesciences in a report on Tuesday, March 28th. They issued a “neutral” rating and a $84.00 price target on the stock. Citigroup raised their price target on shares of Edwards Lifesciences from $92.00 to $97.00 and gave the company a “buy” rating in a report on Monday, April 3rd. Piper Sandler lowered shares of Edwards Lifesciences from an “overweight” rating to a “neutral” rating and cut their price target for the company from $95.00 to $80.00 in a report on Monday, January 30th. Raymond James downgraded shares of Edwards Lifesciences from an “outperform” rating to a “market perform” rating in a research report on Monday, February 6th. Finally, Morgan Stanley increased their price objective on shares of Edwards Lifesciences from $92.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, January 6th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Edwards Lifesciences presently has an average rating of “Hold” and a consensus price target of $86.58.

Edwards Lifesciences Price Performance

NYSE EW opened at $82.92 on Thursday. The stock’s 50-day moving average price is $79.72 and its two-hundred day moving average price is $78.26. The company has a current ratio of 3.03, a quick ratio of 2.17 and a debt-to-equity ratio of 0.10. The company has a market cap of $50.26 billion, a PE ratio of 33.98, a PEG ratio of 4.88 and a beta of 1.02. Edwards Lifesciences Co. has a 1 year low of $67.13 and a 1 year high of $131.10.

Edwards Lifesciences (NYSE:EW – Get Rating) last posted its quarterly earnings data on Tuesday, January 31st. The medical research company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.03. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. Edwards Lifesciences had a return on equity of 26.05% and a net margin of 28.27%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.51 EPS. On average, analysts predict that Edwards Lifesciences Co. will post 2.52 EPS for the current year.

Edwards Lifesciences Profile

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Edwards Lifesciences Corp. engages in patient-focused medical innovations for heart disease and critical care monitoring. Its products are categorized into four main areas: Transcatheter Aortic Valve Replacement, Transcatheter Mitral and Tricuspid Therapies, Surgical Structural Heart, and Critical Care.

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Institutional Ownership by Quarter for Edwards Lifesciences (NYSE:EW)

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