Congress Wealth Management LLC DE raised its stake in Edwards Lifesciences Co. (NYSE:EW – Free Report) by 24.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,985 shares of the medical research company’s stock after purchasing an additional 1,376 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Edwards Lifesciences were worth $659,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Alliancebernstein L.P. lifted its holdings in shares of Edwards Lifesciences by 27.5% during the 4th quarter. Alliancebernstein L.P. now owns 21,874,280 shares of the medical research company’s stock valued at $1,632,040,000 after acquiring an additional 4,712,819 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Edwards Lifesciences by 3.8% during the 1st quarter. Wellington Management Group LLP now owns 15,850,055 shares of the medical research company’s stock valued at $1,311,275,000 after acquiring an additional 578,319 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in shares of Edwards Lifesciences by 104,971.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 15,399,249 shares of the medical research company’s stock valued at $1,148,938,000 after acquiring an additional 15,384,593 shares in the last quarter. Brown Advisory Inc. lifted its holdings in shares of Edwards Lifesciences by 0.8% during the 4th quarter. Brown Advisory Inc. now owns 14,341,102 shares of the medical research company’s stock valued at $1,069,990,000 after acquiring an additional 115,268 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Edwards Lifesciences by 0.6% during the 1st quarter. Geode Capital Management LLC now owns 12,214,619 shares of the medical research company’s stock valued at $1,008,114,000 after acquiring an additional 78,376 shares in the last quarter. Institutional investors and hedge funds own 79.25% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have commented on EW. Truist Financial boosted their price objective on shares of Edwards Lifesciences from $101.00 to $105.00 in a report on Wednesday, July 19th. Citigroup boosted their price objective on shares of Edwards Lifesciences from $101.00 to $110.00 in a report on Monday, July 10th. 58.com reiterated a “reiterates” rating on shares of Edwards Lifesciences in a report on Tuesday, June 27th. Jefferies Financial Group boosted their price objective on shares of Edwards Lifesciences from $103.00 to $107.00 and gave the stock a “buy” rating in a report on Tuesday, July 25th. Finally, Piper Sandler cut their price objective on shares of Edwards Lifesciences from $88.00 to $83.00 and set a “neutral” rating on the stock in a report on Friday, September 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Edwards Lifesciences currently has an average rating of “Hold” and an average target price of $92.42.
Insider Buying and Selling at Edwards Lifesciences
In other Edwards Lifesciences news, CFO Scott B. Ullem sold 7,255 shares of the business’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $93.27, for a total transaction of $676,673.85. Following the completion of the transaction, the chief financial officer now directly owns 19,248 shares of the company’s stock, valued at approximately $1,795,260.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 4,500 shares of the business’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $73.71, for a total transaction of $331,695.00. Following the completion of the transaction, the vice president now directly owns 39,503 shares of the company’s stock, valued at approximately $2,911,766.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Scott B. Ullem sold 7,255 shares of the business’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $93.27, for a total transaction of $676,673.85. Following the transaction, the chief financial officer now directly owns 19,248 shares of the company’s stock, valued at $1,795,260.96. The disclosure for this sale can be found here. Insiders sold 174,359 shares of company stock valued at $14,301,522 in the last ninety days. Company insiders own 1.29% of the company’s stock.
Edwards Lifesciences Price Performance
Shares of NYSE:EW opened at $69.66 on Friday. The company has a quick ratio of 2.30, a current ratio of 3.15 and a debt-to-equity ratio of 0.09. Edwards Lifesciences Co. has a fifty-two week low of $67.13 and a fifty-two week high of $94.87. The firm has a 50-day simple moving average of $79.26 and a 200 day simple moving average of $83.62. The company has a market cap of $42.35 billion, a PE ratio of 30.82, a P/E/G ratio of 3.79 and a beta of 1.03.
Edwards Lifesciences (NYSE:EW – Get Free Report) last announced its quarterly earnings data on Wednesday, July 26th. The medical research company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. Edwards Lifesciences had a net margin of 24.56% and a return on equity of 25.43%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the prior year, the firm earned $0.63 EPS. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Edwards Lifesciences Co. will post 2.55 EPS for the current year.
About Edwards Lifesciences
Edwards Lifesciences Corporation provides products and technologies for structural heart disease, and critical care and surgical monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of heart valves; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases.
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