B. Riley Wealth Advisors Inc. Acquires 9,390 Shares of Edwards Lifesciences Co. (NYSE:EW)

B. Riley Wealth Advisors Inc. boosted its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 80.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,065 shares of the medical research company’s stock after acquiring an additional 9,390 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Edwards Lifesciences were worth $2,013,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. DSM Capital Partners LLC bought a new stake in shares of Edwards Lifesciences during the fourth quarter valued at approximately $28,000. Crewe Advisors LLC bought a new position in Edwards Lifesciences during the first quarter valued at approximately $28,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Edwards Lifesciences in the fourth quarter worth approximately $34,000. Riverview Trust Co bought a new stake in Edwards Lifesciences in the 1st quarter worth approximately $34,000. Finally, Pingora Partners LLC bought a new position in shares of Edwards Lifesciences during the 4th quarter valued at $38,000. 79.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. StockNews.com cut shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Stifel Nicolaus decreased their price objective on Edwards Lifesciences from $85.00 to $70.00 and set a “hold” rating on the stock in a research note on Thursday, July 25th. Wells Fargo & Company lowered their price objective on Edwards Lifesciences from $99.00 to $90.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Truist Financial downgraded shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and lowered their price target for the company from $110.00 to $82.00 in a report on Thursday, July 25th. Finally, Bank of America cut shares of Edwards Lifesciences from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $105.00 to $75.00 in a research note on Thursday, July 25th. Fourteen research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Edwards Lifesciences presently has an average rating of “Hold” and an average target price of $82.10.

Insider Buying and Selling at Edwards Lifesciences

In other Edwards Lifesciences news, Director Michael A. Mussallem sold 29,350 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $84.77, for a total transaction of $2,487,999.50. Following the sale, the director now owns 4,486 shares in the company, valued at $380,278.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Michael A. Mussallem sold 29,350 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $84.77, for a total value of $2,487,999.50. Following the completion of the transaction, the director now owns 4,486 shares in the company, valued at $380,278.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Daniel J. Lippis sold 857 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $85.60, for a total value of $73,359.20. Following the completion of the transaction, the vice president now directly owns 23,890 shares in the company, valued at $2,044,984. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,449 shares of company stock worth $5,168,879. Insiders own 1.29% of the company’s stock.

Edwards Lifesciences Stock Down 0.9 %

EW traded down $0.60 during trading on Wednesday, reaching $63.04. 7,162,956 shares of the stock traded hands, compared to its average volume of 3,873,004. The stock has a market cap of $37.99 billion, a price-to-earnings ratio of 27.43, a price-to-earnings-growth ratio of 2.38 and a beta of 1.11. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.71 and a quick ratio of 2.87. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $96.12. The stock’s 50-day simple moving average is $86.92 and its two-hundred day simple moving average is $86.84.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data on Wednesday, July 24th. The medical research company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.65 billion. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The firm’s revenue was up 6.7% compared to the same quarter last year. During the same period last year, the company earned $0.66 earnings per share. As a group, equities research analysts expect that Edwards Lifesciences Co. will post 2.71 EPS for the current year.

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.