Landscape Capital Management L.L.C. purchased a new position in shares of Edwards Lifesciences Corporation (NYSE:EW – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 22,694 shares of the medical research company’s stock, valued at approximately $2,053,000.
Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Edwards Lifesciences in the second quarter valued at $5,318,092,000. Bank of New York Mellon Corp acquired a new stake in Edwards Lifesciences during the 2nd quarter valued at $1,274,082,000. Norges Bank purchased a new stake in shares of Edwards Lifesciences during the fourth quarter worth about $803,686,000. Deutsche Bank AG purchased a new stake in Edwards Lifesciences during the 2nd quarter worth approximately $516,552,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Edwards Lifesciences by 278.3% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,584,646 shares of the medical research company’s stock valued at $434,318,000 after acquiring an additional 4,108,270 shares in the last quarter. Institutional investors and hedge funds own 79.46% of the company’s stock.
Edwards Lifesciences Price Performance
Shares of NYSE:EW opened at $89.89 on Friday. The firm has a market capitalization of $51.76 billion, a PE ratio of 51.66, a PEG ratio of 2.26 and a beta of 0.85. The company has a current ratio of 4.52, a quick ratio of 3.77 and a debt-to-equity ratio of 0.06. Edwards Lifesciences Corporation has a 1-year low of $72.30 and a 1-year high of $96.29. The business’s 50 day moving average is $89.21 and its 200-day moving average is $84.67.
Insider Activity
In other news, VP Daniel J. Lippis sold 619 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $92.03, for a total value of $56,966.57. Following the completion of the transaction, the vice president directly owned 40,034 shares of the company’s stock, valued at approximately $3,684,329.02. This represents a 1.52% decrease in their position. The sale was disclosed in a filing 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 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 transaction, the vice president owned 98,611 shares of the company’s stock, valued at $8,521,962.62. This represents a 19.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 25,570 shares of company stock worth $2,219,390. Company insiders own 0.31% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have commented on EW. Leerink Partners raised Edwards Lifesciences from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $87.00 to $101.00 in a report on Friday, July 24th. Wall Street Zen lowered shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Piper Sandler reissued an “overweight” rating and issued a $101.00 price objective (up from $100.00) on shares of Edwards Lifesciences in a research note on Friday, July 24th. Weiss Ratings restated a “hold (c)” rating on shares of Edwards Lifesciences in a research report on Friday, July 17th. Finally, Truist Financial boosted their price target on Edwards Lifesciences from $90.00 to $95.00 and gave the company a “hold” rating in a research note on Thursday, July 16th. Seventeen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $100.27.
Read Our Latest Stock Report on EW
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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