Webster Bank N. A. Invests $39,000 in Edwards Lifesciences Co. (NYSE:EW)

Webster Bank N. A. bought a new stake in Edwards Lifesciences Co. (NYSE:EW) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 420 shares of the medical research company’s stock, valued at approximately $39,000.

Other large investors also recently bought and sold shares of the company. DSM Capital Partners LLC acquired a new position in Edwards Lifesciences during the 4th quarter worth about $28,000. Crewe Advisors LLC purchased a new position in shares of Edwards Lifesciences in the first quarter valued at approximately $28,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Edwards Lifesciences in the fourth quarter valued at approximately $34,000. Riverview Trust Co purchased a new stake in Edwards Lifesciences during the 1st quarter worth approximately $34,000. Finally, Pingora Partners LLC acquired a new stake in Edwards Lifesciences during the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 79.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on EW shares. Piper Sandler cut their target price on shares of Edwards Lifesciences from $88.00 to $73.00 and set a “neutral” rating on the stock in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Edwards Lifesciences from $103.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Baird R W lowered Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 25th. Royal Bank of Canada cut their price target on Edwards Lifesciences from $101.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Finally, Evercore ISI lowered their price objective on Edwards Lifesciences from $91.00 to $76.00 and set an “in-line” rating for the company in a research report on Thursday, July 25th. Fourteen research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $82.10.

Insider Activity at Edwards Lifesciences

In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $93.29, for a total transaction of $466,450.00. Following the transaction, the vice president now directly owns 46,936 shares in the company, valued at approximately $4,378,659.44. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Edwards Lifesciences news, CEO Bernard J. Zovighian sold 8,617 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $87.68, for a total transaction of $755,538.56. Following the completion of the sale, the chief executive officer now directly owns 68,218 shares in the company, valued at $5,981,354.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $93.29, for a total value of $466,450.00. Following the sale, the vice president now owns 46,936 shares of the company’s stock, valued at approximately $4,378,659.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,242 shares of company stock worth $2,168,470. 1.29% of the stock is currently owned by insiders.

Edwards Lifesciences Price Performance

Shares of EW stock traded up $1.35 during mid-day trading on Friday, reaching $64.64. The stock had a trading volume of 5,985,117 shares, compared to its average volume of 4,027,077. The company has a market cap of $38.95 billion, a P/E ratio of 27.86, a price-to-earnings-growth ratio of 2.57 and a beta of 1.11. The company has a current ratio of 3.71, a quick ratio of 2.87 and a debt-to-equity ratio of 0.08. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $96.12. The business has a 50-day simple moving average of $82.82 and a 200 day simple moving average of $86.07.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.66 earnings per share. On average, sell-side analysts anticipate that Edwards Lifesciences Co. will post 2.71 earnings per share for the current year.

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.