State of New Jersey Common Pension Fund D Sells 1,003 Shares of Edwards Lifesciences Co. (NYSE:EW)

State of New Jersey Common Pension Fund D lessened its position in Edwards Lifesciences Co. (NYSE:EW) by 0.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 225,462 shares of the medical research company’s stock after selling 1,003 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Edwards Lifesciences were worth $16,691,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Edwards Lifesciences during the 4th quarter valued at about $30,000. FSA Wealth Management LLC bought a new position in Edwards Lifesciences in the third quarter valued at approximately $30,000. Prospera Private Wealth LLC acquired a new position in shares of Edwards Lifesciences in the third quarter valued at approximately $32,000. Avior Wealth Management LLC boosted its holdings in shares of Edwards Lifesciences by 138.7% in the third quarter. Avior Wealth Management LLC now owns 530 shares of the medical research company’s stock valued at $35,000 after buying an additional 308 shares during the period. Finally, Roble Belko & Company Inc acquired a new stake in shares of Edwards Lifesciences during the fourth quarter worth $46,000. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EW has been the subject of a number of research reports. Truist Financial reiterated a “hold” rating and set a $78.00 target price (up previously from $70.00) on shares of Edwards Lifesciences in a report on Thursday, December 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $85.00 target price on shares of Edwards Lifesciences in a research report on Wednesday, February 12th. Bank of America raised Edwards Lifesciences from a “neutral” rating to a “buy” rating and upped their price target for the stock from $82.00 to $90.00 in a research report on Monday, December 16th. Citigroup lifted their price objective on shares of Edwards Lifesciences from $81.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, Piper Sandler increased their target price on shares of Edwards Lifesciences from $70.00 to $73.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $79.95.

Insider Buying and Selling

In related news, VP Donald E. Bobo, Jr. sold 6,500 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $75.75, for a total value of $492,375.00. Following the transaction, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,555,402. This represents a 12.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven R. Loranger sold 5,739 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $76.42, for a total value of $438,574.38. Following the sale, the director now directly owns 60,372 shares in the company, valued at $4,613,628.24. This trade represents a 8.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,489 shares of company stock valued at $2,002,829 over the last three months. Corporate insiders own 1.29% of the company’s stock.

Edwards Lifesciences Price Performance

EW opened at $76.23 on Tuesday. The stock has a market capitalization of $44.96 billion, a P/E ratio of 11.00, a PEG ratio of 3.64 and a beta of 1.10. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $96.12. The stock has a 50-day moving average price of $72.67 and a 200-day moving average price of $69.58.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Tuesday, February 11th. The medical research company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. Equities analysts predict that Edwards Lifesciences Co. will post 2.56 earnings per share for the current fiscal 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.