Korea Investment CORP bought a new stake in Edwards Lifesciences Corporation (NYSE:EW – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 447,558 shares of the medical research company’s stock, valued at approximately $40,486,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Rehmann Capital Advisory Group boosted its position in Edwards Lifesciences by 2.1% during the 4th quarter. Rehmann Capital Advisory Group now owns 6,399 shares of the medical research company’s stock worth $546,000 after acquiring an additional 130 shares during the last quarter. McIlrath & Eck LLC boosted its holdings in Edwards Lifesciences by 14.6% during the fourth quarter. McIlrath & Eck LLC now owns 1,057 shares of the medical research company’s stock worth $90,000 after purchasing an additional 135 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in Edwards Lifesciences by 0.9% during the fourth quarter. Quadrant Capital Group LLC now owns 15,113 shares of the medical research company’s stock worth $1,288,000 after purchasing an additional 136 shares during the last quarter. Stephens Inc. AR grew its position in Edwards Lifesciences by 5.4% in the fourth quarter. Stephens Inc. AR now owns 2,799 shares of the medical research company’s stock valued at $239,000 after purchasing an additional 144 shares in the last quarter. Finally, Composition Wealth LLC grew its position in Edwards Lifesciences by 1.6% in the fourth quarter. Composition Wealth LLC now owns 9,331 shares of the medical research company’s stock valued at $795,000 after purchasing an additional 147 shares in the last quarter. Institutional investors and hedge funds own 79.46% of the company’s stock.
Edwards Lifesciences Price Performance
Shares of EW opened at $89.89 on Friday. The company has a current ratio of 4.52, a quick ratio of 3.77 and a debt-to-equity ratio of 0.06. The company’s fifty day simple moving average is $89.21 and its 200 day simple moving average is $84.67. Edwards Lifesciences Corporation has a 1-year low of $72.30 and a 1-year high of $96.29. The company has a market cap of $51.76 billion, a price-to-earnings ratio of 51.66, a PEG ratio of 2.26 and a beta of 0.85.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on EW. TD Cowen reiterated a “buy” rating on shares of Edwards Lifesciences in a research note on Tuesday, July 21st. Leerink Partners upgraded shares of Edwards Lifesciences from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $87.00 to $101.00 in a research note on Friday, July 24th. Evercore restated an “outperform” rating and issued a $100.00 price objective on shares of Edwards Lifesciences in a report on Monday, July 6th. Mizuho lifted their target price on Edwards Lifesciences from $100.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. Finally, Royal Bank Of Canada upped their target price on Edwards Lifesciences from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Seventeen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Edwards Lifesciences presently has an average rating of “Moderate Buy” and an average price target of $100.27.
Check Out Our Latest Stock Report on Edwards Lifesciences
Insider Activity at Edwards Lifesciences
In related news, VP Daniel J. Lippis sold 619 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $92.03, for a total value of $56,966.57. Following the completion of the sale, the vice president directly owned 40,034 shares in the company, valued at approximately $3,684,329.02. This trade represents a 1.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Donald E. Bobo, Jr. sold 23,145 shares of Edwards Lifesciences stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $86.42, for a total value of $2,000,190.90. Following the transaction, the vice president owned 98,611 shares of the company’s stock, valued at $8,521,962.62. The trade was a 19.01% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 25,570 shares of company stock worth $2,219,390. Insiders own 0.31% of the company’s stock.
Edwards Lifesciences Profile
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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