Armistice Capital LLC boosted its stake in shares of Edwards Lifesciences Corporation (NYSE:EW – Free Report) by 89.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 277,478 shares of the medical research company’s stock after purchasing an additional 130,907 shares during the period. Armistice Capital LLC’s holdings in Edwards Lifesciences were worth $23,655,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EW. JPL Wealth Management LLC bought a new position in Edwards Lifesciences during the third quarter worth about $25,000. Kemnay Advisory Services Inc. purchased a new position in shares of Edwards Lifesciences during the fourth quarter worth approximately $27,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Edwards Lifesciences during the fourth quarter worth approximately $28,000. Hilton Head Capital Partners LLC bought a new position in shares of Edwards Lifesciences during the fourth quarter valued at about $28,000. Finally, Rakuten Securities Inc. raised its stake in shares of Edwards Lifesciences by 413.7% during the second quarter. Rakuten Securities Inc. now owns 375 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 302 shares during the last quarter. Institutional investors own 79.46% of the company’s stock.
Edwards Lifesciences Stock Performance
NYSE:EW opened at $86.53 on Thursday. The stock’s fifty day moving average is $83.14 and its 200 day moving average is $83.11. Edwards Lifesciences Corporation has a fifty-two week low of $72.30 and a fifty-two week high of $89.60. The firm has a market capitalization of $49.83 billion, a PE ratio of 46.03, a PEG ratio of 2.22 and a beta of 0.87. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.63 and a current ratio of 4.42.
Insiders Place Their Bets
In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 23,145 shares of the stock in a transaction on 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 sale, the vice president owned 98,611 shares in the company, valued at $8,521,962.62. This trade represents a 19.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Daniel J. Lippis sold 620 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $81.14, for a total value of $50,306.80. Following the completion of the sale, the vice president owned 40,411 shares in the company, valued at approximately $3,278,948.54. The trade was a 1.51% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 81,038 shares of company stock worth $6,683,255. 0.31% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Several research firms recently weighed in on EW. Truist Financial set a $90.00 price target on shares of Edwards Lifesciences and gave the company a “hold” rating in a report on Friday, April 24th. Mizuho set a $95.00 target price on Edwards Lifesciences and gave the stock an “outperform” rating in a research report on Monday, April 13th. Robert W. Baird upped their price target on shares of Edwards Lifesciences from $85.00 to $87.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Wolfe Research upgraded Edwards Lifesciences from a “peer perform” rating to an “outperform” rating and set a $92.00 price objective for the company in a research note on Wednesday, April 1st. Finally, Barclays restated an “overweight” rating and issued a $110.00 price target (up from $104.00) on shares of Edwards Lifesciences in a research note on Monday, April 27th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, Edwards Lifesciences currently has a consensus rating of “Moderate Buy” and an average target price of $95.96.
Read Our Latest Research Report on Edwards Lifesciences
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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