NorthRock Partners LLC Boosts Stock Holdings in Edwards Lifesciences Co. (NYSE:EW)

NorthRock Partners LLC grew its position in shares of Edwards Lifesciences Co. (NYSE:EW) by 5.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,847 shares of the medical research company’s stock after acquiring an additional 704 shares during the quarter. NorthRock Partners LLC’s holdings in Edwards Lifesciences were worth $1,323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in EW. Norges Bank bought a new stake in shares of Edwards Lifesciences during the 4th quarter worth $648,540,000. Brown Advisory Inc. raised its stake in Edwards Lifesciences by 20.1% in the 4th quarter. Brown Advisory Inc. now owns 18,181,420 shares of the medical research company’s stock valued at $1,386,333,000 after acquiring an additional 3,048,274 shares during the period. CIBC Private Wealth Group LLC raised its stake in Edwards Lifesciences by 197.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 3,446,758 shares of the medical research company’s stock valued at $262,815,000 after acquiring an additional 2,286,119 shares during the period. AustralianSuper Pty Ltd bought a new stake in Edwards Lifesciences in the 4th quarter valued at about $168,519,000. Finally, Bank of New York Mellon Corp raised its stake in Edwards Lifesciences by 9.5% in the 1st quarter. Bank of New York Mellon Corp now owns 18,973,304 shares of the medical research company’s stock valued at $1,813,089,000 after acquiring an additional 1,644,869 shares during the period. 79.46% of the stock is currently owned by institutional investors.

Edwards Lifesciences Stock Down 1.6 %

EW traded down $1.49 during trading on Monday, reaching $89.50. The stock had a trading volume of 3,043,979 shares, compared to its average volume of 3,395,869. The stock’s 50 day moving average is $88.97 and its two-hundred day moving average is $86.51. The company has a current ratio of 3.75, a quick ratio of 2.67 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $53.93 billion, a price-to-earnings ratio of 38.58, a P/E/G ratio of 3.33 and a beta of 1.11. Edwards Lifesciences Co. has a one year low of $60.57 and a one year high of $96.12.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data on Thursday, April 25th. The medical research company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.58 billion. Edwards Lifesciences had a return on equity of 22.86% and a net margin of 23.01%. As a group, analysts expect that Edwards Lifesciences Co. will post 2.77 earnings per share for the current year.

Insider Transactions at Edwards Lifesciences

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $93.29, for a total transaction of $466,450.00. Following the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at $4,378,659.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Edwards Lifesciences news, CEO Bernard J. Zovighian sold 8,617 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $87.68, for a total value of $755,538.56. Following the transaction, the chief executive officer now directly owns 68,218 shares of the company’s stock, valued at $5,981,354.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’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 completion of the transaction, the vice president now directly owns 46,936 shares in the company, valued at $4,378,659.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 81,099 shares of company stock valued at $7,003,553. Insiders own 1.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Citigroup upped their price target on Edwards Lifesciences from $105.00 to $106.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. The Goldman Sachs Group assumed coverage on Edwards Lifesciences in a research report on Thursday, May 30th. They set a “buy” rating and a $107.00 price target on the stock. Royal Bank of Canada upped their price target on Edwards Lifesciences from $95.00 to $101.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Morgan Stanley upped their price target on Edwards Lifesciences from $95.00 to $103.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Finally, Piper Sandler boosted their price objective on Edwards Lifesciences from $85.00 to $88.00 and gave the stock a “neutral” rating in a report on Friday, April 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $95.24.

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.