Maridea Wealth Management LLC acquired a new position in Edwards Lifesciences Corporation (NYSE:EW – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 22,687 shares of the medical research company’s stock, valued at approximately $2,052,000.
Other institutional investors also recently bought and sold shares of the company. State Street Corp increased its stake in shares of Edwards Lifesciences by 1.5% during the fourth quarter. State Street Corp now owns 25,991,524 shares of the medical research company’s stock valued at $2,215,777,000 after buying an additional 371,892 shares during the period. Wellington Management Group LLP grew its holdings in Edwards Lifesciences by 4.8% during the 4th quarter. Wellington Management Group LLP now owns 21,793,949 shares of the medical research company’s stock worth $1,857,934,000 after acquiring an additional 989,533 shares in the last quarter. Norges Bank bought a new position in Edwards Lifesciences during the 4th quarter worth about $803,686,000. Morgan Stanley grew its holdings in Edwards Lifesciences by 12.4% during the 4th quarter. Morgan Stanley now owns 7,314,292 shares of the medical research company’s stock worth $623,544,000 after acquiring an additional 804,942 shares in the last quarter. Finally, Marshall Wace LLP increased its position in Edwards Lifesciences by 66.1% during the 4th quarter. Marshall Wace LLP now owns 5,925,627 shares of the medical research company’s stock valued at $505,160,000 after purchasing an additional 2,359,128 shares during the period. 79.46% of the stock is currently owned by hedge funds and other institutional investors.
Edwards Lifesciences Stock Performance
EW stock opened at $91.51 on Friday. Edwards Lifesciences Corporation has a one year low of $72.30 and a one year high of $96.29. The firm has a market cap of $52.69 billion, a price-to-earnings ratio of 52.59, a PEG ratio of 2.30 and a beta of 0.85. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.77 and a current ratio of 4.52. The firm has a 50-day simple moving average of $88.73 and a two-hundred day simple moving average of $84.37.
Insiders Place Their Bets
In other news, VP Daniel J. Lippis sold 620 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $81.14, for a total transaction of $50,306.80. Following the completion of the sale, the vice president owned 40,411 shares in the company, valued at approximately $3,278,948.54. This represents a 1.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Andrew M. Dahl sold 568 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $86.08, for a total value of $48,893.44. Following the completion of the sale, the senior vice president directly owned 15,334 shares of the company’s stock, valued at $1,319,950.72. The trade was a 3.57% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 26,190 shares of company stock valued at $2,269,697. 0.31% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on the stock. Leerink Partners raised shares of Edwards Lifesciences from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $87.00 to $101.00 in a research report on Friday, July 24th. Canaccord Genuity Group set a $85.00 price objective on shares of Edwards Lifesciences and gave the company a “hold” rating in a report on Friday, April 24th. Piper Sandler reissued an “overweight” rating and issued a $101.00 price objective (up from $100.00) on shares of Edwards Lifesciences in a research note on Friday, July 24th. Evercore restated an “outperform” rating and set a $100.00 target price on shares of Edwards Lifesciences in a report on Monday, July 6th. Finally, Mizuho increased their target price on Edwards Lifesciences from $100.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. Seventeen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $100.27.
Read Our Latest Stock Analysis on EW
Edwards Lifesciences Company Profile
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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