OFI Invest Asset Management Makes New Investment in Edwards Lifesciences Co. (NYSE:EW)

OFI Invest Asset Management bought a new stake in Edwards Lifesciences Co. (NYSE:EW) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 317,591 shares of the medical research company’s stock, valued at approximately $22,705,000. OFI Invest Asset Management owned approximately 0.05% of Edwards Lifesciences at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of EW. Abacus Planning Group Inc. raised its position in Edwards Lifesciences by 0.3% during the fourth quarter. Abacus Planning Group Inc. now owns 40,207 shares of the medical research company’s stock worth $2,977,000 after acquiring an additional 140 shares during the last quarter. Bowman & Co S.C. increased its stake in shares of Edwards Lifesciences by 1.2% during the 4th quarter. Bowman & Co S.C. now owns 12,487 shares of the medical research company’s stock worth $924,000 after purchasing an additional 148 shares in the last quarter. Pegasus Asset Management Inc. lifted its stake in Edwards Lifesciences by 0.4% in the 4th quarter. Pegasus Asset Management Inc. now owns 42,628 shares of the medical research company’s stock valued at $3,156,000 after buying an additional 159 shares in the last quarter. Mount Yale Investment Advisors LLC grew its holdings in Edwards Lifesciences by 1.9% during the 4th quarter. Mount Yale Investment Advisors LLC now owns 8,563 shares of the medical research company’s stock valued at $634,000 after buying an additional 162 shares during the last quarter. Finally, Seascape Capital Management increased its position in Edwards Lifesciences by 0.5% during the third quarter. Seascape Capital Management now owns 32,989 shares of the medical research company’s stock worth $2,177,000 after buying an additional 174 shares in the last quarter. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Edwards Lifesciences Price Performance

EW stock opened at $70.36 on Friday. The firm has a market cap of $41.37 billion, a P/E ratio of 10.10, a price-to-earnings-growth ratio of 4.82 and a beta of 1.12. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46. Edwards Lifesciences Co. has a 1 year low of $58.93 and a 1 year high of $96.12. The stock has a 50-day simple moving average of $72.26 and a 200-day simple moving average of $70.38.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings data on Tuesday, February 11th. The medical research company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.04. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. On average, equities analysts predict that Edwards Lifesciences Co. will post 2.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Edwards Lifesciences news, VP Daniel J. Lippis sold 2,500 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $74.08, for a total transaction of $185,200.00. Following the completion of the transaction, the vice president now directly owns 23,189 shares of the company’s stock, valued at $1,717,841.12. This trade represents a 9.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven R. Loranger sold 5,739 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $76.42, for a total transaction of $438,574.38. Following the transaction, the director now directly owns 60,372 shares in the company, valued at $4,613,628.24. The trade was a 8.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,739 shares of company stock valued at $2,799,104 in the last quarter. Company insiders own 1.29% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Wolfe Research downgraded Edwards Lifesciences from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $85.00 price target on shares of Edwards Lifesciences in a research note on Wednesday, February 12th. Barclays lifted their price target on shares of Edwards Lifesciences from $88.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Truist Financial restated a “hold” rating and set a $78.00 target price (up previously from $70.00) on shares of Edwards Lifesciences in a research report on Thursday, December 5th. Finally, Canaccord Genuity Group lifted their target price on shares of Edwards Lifesciences from $68.00 to $71.00 and gave the stock a “hold” rating in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Edwards Lifesciences has an average rating of “Hold” and an average price target of $79.95.

Edwards Lifesciences 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.