Cambridge Investment Research Advisors Inc. Lowers Stake in Edwards Lifesciences Co. (NYSE:EW)

Posted by on May 14th, 2023

Cambridge Investment Research Advisors Inc. trimmed its stake in Edwards Lifesciences Co. (NYSE:EW – Get Rating) by 3.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 39,887 shares of the medical research company’s stock after selling 1,358 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Edwards Lifesciences were worth $2,976,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Bogart Wealth LLC purchased a new stake in Edwards Lifesciences in the third quarter valued at approximately $25,000. Trifecta Capital Advisors LLC purchased a new stake in Edwards Lifesciences in the fourth quarter valued at approximately $28,000. Addison Advisors LLC grew its holdings in Edwards Lifesciences by 708.0% in the fourth quarter. Addison Advisors LLC now owns 404 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 354 shares during the period. New England Capital Financial Advisors LLC purchased a new stake in Edwards Lifesciences in the fourth quarter valued at approximately $42,000. Finally, Boit C F David purchased a new stake 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 at Edwards Lifesciences

In related news, VP Daveen Chopra sold 4,000 shares of the stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $76.01, for a total value of $304,040.00. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Daveen Chopra sold 4,000 shares of the stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $76.01, for a total value of $304,040.00. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Scott B. Ullem sold 80,700 shares of the stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $88.54, for a total transaction of $7,145,178.00. Following the completion of the transaction, the chief financial officer now owns 18,294 shares of the company’s stock, valued at approximately $1,619,750.76. The disclosure for this sale can be found here. Insiders sold 216,216 shares of company stock worth $18,268,759 in the last 90 days. Corporate insiders own 1.29% of the company’s stock.

Edwards Lifesciences Stock Up 0.5 %

Edwards Lifesciences stock opened at $89.18 on Friday. The company has a 50-day simple moving average of $83.52 and a 200-day simple moving average of $78.69. The firm has a market capitalization of $54.25 billion, a P/E ratio of 37.00, a P/E/G ratio of 5.04 and a beta of 1.02. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.17 and a current ratio of 3.01. Edwards Lifesciences Co. has a one year low of $67.13 and a one year high of $107.92.

Edwards Lifesciences (NYSE:EW – Get Rating) last released its quarterly earnings results on Wednesday, April 26th. The medical research company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.61 by $0.01. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.39 billion. Edwards Lifesciences had a net margin of 27.07% and a return on equity of 25.81%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.60 earnings per share. As a group, equities analysts expect that Edwards Lifesciences Co. will post 2.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on EW. TheStreet upgraded shares of Edwards Lifesciences from a “c+” rating to a “b-” rating in a research note on Wednesday, April 19th. 92 Resources reiterated a “reiterates” rating on shares of Edwards Lifesciences in a research note on Thursday, May 4th. Stifel Nicolaus boosted their price objective on shares of Edwards Lifesciences from $75.00 to $87.00 in a research note on Monday, April 24th. Wells Fargo & Company boosted their price objective on shares of Edwards Lifesciences from $78.00 to $90.00 in a research note on Thursday, April 27th. Finally, Citigroup boosted their target price on shares of Edwards Lifesciences from $92.00 to $97.00 and gave the stock a “buy” rating in a research report on Monday, April 3rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $89.42.

About Edwards Lifesciences

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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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