Intech Investment Management LLC grew its stake in shares of Edwards Lifesciences Corporation (NYSE:EW – Free Report) by 22.2% in the fourth quarter, Holdings Channel reports. The fund owned 69,347 shares of the medical research company’s stock after acquiring an additional 12,591 shares during the quarter. Intech Investment Management LLC’s holdings in Edwards Lifesciences were worth $5,912,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of EW. Brighton Jones LLC bought a new position in shares of Edwards Lifesciences during the 4th quarter valued at approximately $266,000. NewEdge Advisors LLC lifted its stake in shares of Edwards Lifesciences by 8.1% during the 2nd quarter. NewEdge Advisors LLC now owns 35,637 shares of the medical research company’s stock valued at $2,787,000 after buying an additional 2,665 shares in the last quarter. Sei Investments Co. lifted its stake in shares of Edwards Lifesciences by 16.7% during the 2nd quarter. Sei Investments Co. now owns 412,808 shares of the medical research company’s stock valued at $32,285,000 after buying an additional 58,988 shares in the last quarter. Squarepoint Ops LLC lifted its stake in shares of Edwards Lifesciences by 277.7% during the 2nd quarter. Squarepoint Ops LLC now owns 69,263 shares of the medical research company’s stock valued at $5,417,000 after buying an additional 50,924 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its stake in shares of Edwards Lifesciences by 0.4% during the 2nd quarter. Treasurer of the State of North Carolina now owns 268,860 shares of the medical research company’s stock valued at $21,028,000 after buying an additional 1,065 shares in the last quarter. 79.46% of the stock is owned by institutional investors.
Edwards Lifesciences Stock Performance
NYSE EW opened at $86.41 on Friday. Edwards Lifesciences Corporation has a 1 year low of $72.30 and a 1 year high of $88.28. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.42 and a quick ratio of 3.63. The stock has a market capitalization of $49.76 billion, a PE ratio of 45.96, a P/E/G ratio of 2.17 and a beta of 0.87. The company’s 50 day simple moving average is $81.73 and its two-hundred day simple moving average is $83.01.
Analysts Set New Price Targets
A number of brokerages recently commented on EW. Evercore restated an “outperform” rating and set a $93.00 price target on shares of Edwards Lifesciences in a research note on Friday, April 24th. Truist Financial set a $90.00 price target on shares of Edwards Lifesciences and gave the company a “hold” rating in a research note on Friday, April 24th. Piper Sandler restated an “overweight” rating and set a $100.00 price target (up from $98.00) on shares of Edwards Lifesciences in a research note on Wednesday, February 11th. Wolfe Research upgraded shares of Edwards Lifesciences from a “peer perform” rating to an “outperform” rating and set a $92.00 target price on the stock in a research note on Wednesday, April 1st. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $95.00 target price (down from $108.00) on shares of Edwards Lifesciences in a research note on Wednesday, February 11th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $95.65.
Read Our Latest Report on Edwards Lifesciences
Insider Activity at Edwards Lifesciences
In other news, CFO Scott B. Ullem sold 13,000 shares of the firm’s stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $80.04, for a total transaction of $1,040,520.00. Following the sale, the chief financial officer owned 39,699 shares in the company, valued at approximately $3,177,507.96. This trade represents a 24.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Daniel J. Lippis sold 620 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $81.14, for a total transaction of $50,306.80. Following the sale, the vice president owned 40,411 shares in the company, valued at approximately $3,278,948.54. This trade represents a 1.51% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 106,397 shares of company stock worth $8,848,664. Corporate insiders own 0.31% of the company’s stock.
About Edwards Lifesciences
Edwards Lifesciences is a medical technology company focused on products and therapies for structural heart disease and critical care monitoring. The company designs, develops and manufactures prosthetic heart valves and related delivery systems used in both surgical and minimally invasive (transcatheter) procedures. Its portfolio addresses a range of valvular conditions, with an emphasis on technologies that enable transcatheter aortic valve replacement (TAVR) as an alternative to open-heart surgery.
In addition to transcatheter heart valves—including the widely recognized SAPIEN family—Edwards offers surgical tissue valves and ancillary devices used by cardiac surgeons, interventional cardiologists and hospital teams.
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