BI Asset Management Fondsmaeglerselskab A S Acquires Shares of 72,619 Edwards Lifesciences Co. (NYSE:EW)

BI Asset Management Fondsmaeglerselskab A S bought a new position in Edwards Lifesciences Co. (NYSE:EW) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 72,619 shares of the medical research company’s stock, valued at approximately $5,376,000.

Several other hedge funds and other institutional investors have also made changes to their positions in EW. Abacus Planning Group Inc. raised its position in Edwards Lifesciences by 0.3% in the fourth quarter. Abacus Planning Group Inc. now owns 40,207 shares of the medical research company’s stock worth $2,977,000 after acquiring an additional 140 shares in the last quarter. Bowman & Co S.C. increased its holdings in shares of Edwards Lifesciences by 1.2% in the 4th quarter. Bowman & Co S.C. now owns 12,487 shares of the medical research company’s stock valued at $924,000 after purchasing an additional 148 shares in the last quarter. Moors & Cabot Inc. increased its holdings in shares of Edwards Lifesciences by 0.3% in the 4th quarter. Moors & Cabot Inc. now owns 54,589 shares of the medical research company’s stock valued at $4,041,000 after purchasing an additional 152 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in shares of Edwards Lifesciences by 3.1% in the fourth quarter. Quadrant Capital Group LLC now owns 5,180 shares of the medical research company’s stock valued at $383,000 after purchasing an additional 156 shares during the period. Finally, Pegasus Asset Management Inc. boosted its holdings in Edwards Lifesciences by 0.4% during the fourth quarter. Pegasus Asset Management Inc. now owns 42,628 shares of the medical research company’s stock worth $3,156,000 after buying an additional 159 shares in the last quarter. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Price Performance

EW opened at $71.56 on Monday. Edwards Lifesciences Co. has a 1 year low of $58.93 and a 1 year high of $95.25. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46. The company’s 50 day simple moving average is $71.31 and its 200 day simple moving average is $70.92. The stock has a market capitalization of $42.07 billion, a PE ratio of 10.27, a P/E/G ratio of 4.82 and a beta of 1.15.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Tuesday, February 11th. The medical research company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. As a group, sell-side analysts expect that Edwards Lifesciences Co. will post 2.45 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Bernard J. Zovighian sold 6,164 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $69.51, for a total transaction of $428,459.64. Following the completion of the sale, the chief executive officer now owns 59,083 shares of the company’s stock, valued at approximately $4,106,859.33. This represents a 9.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Donald E. Bobo, Jr. sold 9,500 shares of Edwards Lifesciences stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $67.96, for a total transaction of $645,620.00. Following the transaction, the vice president now directly owns 46,936 shares in the company, valued at approximately $3,189,770.56. This trade represents a 16.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,853 shares of company stock worth $5,163,062 over the last three months. 1.29% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Evercore ISI reduced their price target on shares of Edwards Lifesciences from $75.00 to $73.00 and set an “in-line” rating for the company in a research report on Wednesday, February 12th. Truist Financial reduced their price objective on Edwards Lifesciences from $78.00 to $75.00 and set a “hold” rating for the company in a report on Friday, April 11th. Canaccord Genuity Group raised their price target on Edwards Lifesciences from $68.00 to $71.00 and gave the company a “hold” rating in a research report on Thursday, February 13th. Morgan Stanley lifted their price target on Edwards Lifesciences from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 12th. Finally, Piper Sandler increased their price objective on shares of Edwards Lifesciences from $70.00 to $73.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Edwards Lifesciences has a consensus rating of “Hold” and a consensus target price of $78.55.

Edwards Lifesciences 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.