Touchstone Capital Inc. Invests $5.66 Million in Edwards Lifesciences Co. (NYSE:EW)

Touchstone Capital Inc. acquired a new stake in Edwards Lifesciences Co. (NYSE:EW) during the 4th quarter, Holdings Channel.com reports. The fund acquired 74,241 shares of the medical research company’s stock, valued at approximately $5,661,000. Edwards Lifesciences comprises about 5.4% of Touchstone Capital Inc.’s investment portfolio, making the stock its 7th largest position.

Other large investors have also made changes to their positions in the company. Advisors Asset Management Inc. boosted its stake in Edwards Lifesciences by 0.3% during the first quarter. Advisors Asset Management Inc. now owns 43,556 shares of the medical research company’s stock worth $5,127,000 after buying an additional 117 shares during the last quarter. Apollon Wealth Management LLC raised its holdings in shares of Edwards Lifesciences by 1.0% in the 1st quarter. Apollon Wealth Management LLC now owns 12,487 shares of the medical research company’s stock valued at $1,033,000 after buying an additional 119 shares during the period. Geller Advisors LLC raised its holdings in shares of Edwards Lifesciences by 6.5% in the 1st quarter. Geller Advisors LLC now owns 1,965 shares of the medical research company’s stock valued at $231,000 after buying an additional 120 shares during the period. Legacy Wealth Asset Management LLC raised its holdings in shares of Edwards Lifesciences by 0.8% in the 4th quarter. Legacy Wealth Asset Management LLC now owns 16,958 shares of the medical research company’s stock valued at $1,293,000 after buying an additional 134 shares during the period. Finally, KCM Investment Advisors LLC increased its holdings in Edwards Lifesciences by 2.7% during the 1st quarter. KCM Investment Advisors LLC now owns 5,392 shares of the medical research company’s stock worth $635,000 after purchasing an additional 142 shares during the period. 79.46% of the stock is owned by hedge funds and other institutional investors.

Edwards Lifesciences Stock Performance

NYSE EW opened at $95.53 on Friday. The business has a 50 day moving average price of $85.90 and a 200 day moving average price of $75.99. The company has a market capitalization of $57.50 billion, a P/E ratio of 41.53, a PEG ratio of 4.72 and a beta of 1.05. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.38 and a quick ratio of 2.40. Edwards Lifesciences Co. has a 1-year low of $60.57 and a 1-year high of $96.12.

Edwards Lifesciences (NYSE:EW) last announced its earnings results on Tuesday, February 6th. The medical research company reported $0.64 EPS for the quarter, meeting analysts’ consensus estimates of $0.64. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Edwards Lifesciences had a return on equity of 23.56% and a net margin of 23.35%. Edwards Lifesciences’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 EPS. Sell-side analysts expect that Edwards Lifesciences Co. will post 2.76 EPS for the current fiscal year.

Insider Buying and Selling at Edwards Lifesciences

In other news, Director Michael A. Mussallem sold 29,350 shares of the firm’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $72.98, for a total transaction of $2,141,963.00. Following the sale, the director now owns 4,486 shares in the company, valued at $327,388.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Michael A. Mussallem sold 29,350 shares of the firm’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $72.98, for a total transaction of $2,141,963.00. Following the sale, the director now owns 4,486 shares in the company, valued at $327,388.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jean-Luc M. Lemercier sold 14,400 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $91.68, for a total value of $1,320,192.00. Following the sale, the vice president now owns 173,584 shares in the company, valued at approximately $15,914,181.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 182,349 shares of company stock worth $15,334,555. 1.29% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

EW has been the subject of several analyst reports. StockNews.com cut Edwards Lifesciences from a “buy” rating to a “hold” rating in a research report on Wednesday, March 20th. Evercore ISI cut Edwards Lifesciences from an “outperform” rating to an “in-line” rating and decreased their target price for the company from $80.00 to $77.00 in a research report on Thursday, January 4th. Wells Fargo & Company raised Edwards Lifesciences from an “equal weight” rating to an “overweight” rating and set a $94.00 target price for the company in a research report on Friday, February 2nd. Mizuho upped their target price on Edwards Lifesciences from $85.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Finally, Truist Financial upped their target price on Edwards Lifesciences from $78.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $88.80.

About Edwards Lifesciences

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.