Advisor Resource Council Acquires Shares of 7,991 Edwards Lifesciences Corporation (NYSE:EW)

Advisor Resource Council acquired a new stake in shares of Edwards Lifesciences Corporation (NYSE:EW) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 7,991 shares of the medical research company’s stock, valued at approximately $576,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Crowley Wealth Management Inc. purchased a new position in shares of Edwards Lifesciences during the 4th quarter valued at approximately $26,000. Vega Investment Solutions purchased a new position in shares of Edwards Lifesciences during the 4th quarter valued at approximately $27,000. Millstone Evans Group LLC purchased a new position in shares of Edwards Lifesciences during the 4th quarter valued at approximately $29,000. Global X Japan Co. Ltd. increased its holdings in shares of Edwards Lifesciences by 116.1% during the 1st quarter. Global X Japan Co. Ltd. now owns 402 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 216 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new position in shares of Edwards Lifesciences during the 1st quarter valued at approximately $38,000. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Edwards Lifesciences Price Performance

Edwards Lifesciences stock opened at $73.79 on Monday. Edwards Lifesciences Corporation has a 12-month low of $58.93 and a 12-month high of $95.25. The stock has a market cap of $43.28 billion, a P/E ratio of 10.54, a PEG ratio of 3.72 and a beta of 1.12. The company has a 50-day moving average price of $75.05 and a 200 day moving average price of $73.01. The company has a current ratio of 4.45, a quick ratio of 3.66 and a debt-to-equity ratio of 0.06.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.04. Edwards Lifesciences had a net margin of 75.48% and a return on equity of 16.62%. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period last year, the business earned $0.66 earnings per share. Edwards Lifesciences’s revenue was up 6.2% compared to the same quarter last year. Sell-side analysts anticipate that Edwards Lifesciences Corporation will post 2.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Robert W. Baird lifted their target price on shares of Edwards Lifesciences from $72.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, April 24th. Wall Street Zen lowered shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a report on Friday, May 16th. Truist Financial cut their target price on shares of 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 boosted their price target on shares of Edwards Lifesciences from $71.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, April 25th. Finally, Piper Sandler boosted their price target on shares of Edwards Lifesciences from $80.00 to $83.00 and gave the stock an “overweight” rating in a report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $80.20.

Insider Buying and Selling

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 9,500 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $69.81, for a total transaction of $663,195.00. Following the completion of the transaction, the vice president now owns 47,206 shares of the company’s stock, valued at $3,295,450.86. This trade represents a 16.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Scott B. Ullem sold 11,250 shares of the stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $70.87, for a total transaction of $797,287.50. Following the transaction, the chief financial officer now directly owns 30,387 shares of the company’s stock, valued at approximately $2,153,526.69. This trade represents a 27.02% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,898 shares of company stock worth $3,796,154. Insiders own 0.34% of the company’s stock.

Edwards Lifesciences Company 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.