Varma Mutual Pension Insurance Co raised its position in Edwards Lifesciences Corporation (NYSE:EW – Free Report) by 7.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 138,058 shares of the medical research company’s stock after buying an additional 9,900 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Edwards Lifesciences were worth $10,737,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of EW. Plan A Wealth LLC increased its position in shares of Edwards Lifesciences by 11.9% during the third quarter. Plan A Wealth LLC now owns 4,323 shares of the medical research company’s stock valued at $336,000 after acquiring an additional 461 shares during the last quarter. Cibc World Market Inc. grew its stake in Edwards Lifesciences by 7.4% in the 3rd quarter. Cibc World Market Inc. now owns 24,481 shares of the medical research company’s stock valued at $1,904,000 after purchasing an additional 1,695 shares during the period. Caprock Group LLC bought a new position in Edwards Lifesciences in the 3rd quarter valued at $497,000. Rhumbline Advisers increased its position in shares of Edwards Lifesciences by 1.4% during the 3rd quarter. Rhumbline Advisers now owns 1,111,787 shares of the medical research company’s stock valued at $86,464,000 after purchasing an additional 15,792 shares during the last quarter. Finally, Krilogy Financial LLC bought a new stake in shares of Edwards Lifesciences during the 3rd quarter worth $427,000. Institutional investors own 79.46% of the company’s stock.
Edwards Lifesciences Stock Down 0.8%
Edwards Lifesciences stock opened at $75.80 on Friday. The firm has a 50 day simple moving average of $83.34 and a 200 day simple moving average of $81.08. The company has a current ratio of 4.00, a quick ratio of 3.29 and a debt-to-equity ratio of 0.06. Edwards Lifesciences Corporation has a 1-year low of $65.94 and a 1-year high of $87.89. The firm has a market capitalization of $43.99 billion, a price-to-earnings ratio of 41.42, a P/E/G ratio of 2.00 and a beta of 0.94.
Insider Buying and Selling at Edwards Lifesciences
In other news, CFO Scott B. Ullem sold 7,700 shares of the company’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $84.47, for a total transaction of $650,419.00. Following the sale, the chief financial officer directly owned 39,898 shares in the company, valued at $3,370,184.06. This represents a 16.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Donald E. Bobo, Jr. sold 11,386 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $83.76, for a total transaction of $953,691.36. Following the completion of the transaction, the vice president owned 38,970 shares of the company’s stock, valued at $3,264,127.20. This trade represents a 22.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 43,804 shares of company stock valued at $3,699,082 in the last quarter. 1.29% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
EW has been the subject of a number of research analyst reports. Barclays restated an “overweight” rating and set a $104.00 price objective (up previously from $103.00) on shares of Edwards Lifesciences in a report on Monday, January 12th. Stifel Nicolaus set a $110.00 price target on shares of Edwards Lifesciences and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Evercore reaffirmed an “outperform” rating and issued a $94.00 price target on shares of Edwards Lifesciences in a report on Monday, January 5th. National Bank Financial set a $92.00 price objective on Edwards Lifesciences in a report on Friday, October 31st. Finally, Raymond James Financial raised Edwards Lifesciences from a “market perform” rating to an “outperform” rating and set a $96.00 target price for the company in a research report on Monday, November 3rd. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $96.14.
Get Our Latest Stock Analysis on Edwards Lifesciences
About Edwards Lifesciences
Edwards Lifesciences is a medical technology company focused on products and therapies for structural heart disease and critical care monitoring. The company designs, develops and manufactures prosthetic heart valves and related delivery systems used in both surgical and minimally invasive (transcatheter) procedures. Its portfolio addresses a range of valvular conditions, with an emphasis on technologies that enable transcatheter aortic valve replacement (TAVR) as an alternative to open-heart surgery.
In addition to transcatheter heart valves—including the widely recognized SAPIEN family—Edwards offers surgical tissue valves and ancillary devices used by cardiac surgeons, interventional cardiologists and hospital teams.
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