The Manufacturers Life Insurance Company raised its position in Edwards Lifesciences Corporation (NYSE:EW – Free Report) by 4.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,401,187 shares of the medical research company’s stock after purchasing an additional 54,579 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.24% of Edwards Lifesciences worth $112,206,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Evermay Wealth Management LLC increased its holdings in shares of Edwards Lifesciences by 4.0% during the 4th quarter. Evermay Wealth Management LLC now owns 3,304 shares of the medical research company’s stock worth $282,000 after buying an additional 128 shares during the last quarter. Rehmann Capital Advisory Group lifted its holdings in Edwards Lifesciences by 2.1% in the fourth quarter. Rehmann Capital Advisory Group now owns 6,399 shares of the medical research company’s stock valued at $546,000 after acquiring an additional 130 shares during the last quarter. Florida Trust Wealth Management Co increased its stake in Edwards Lifesciences by 1.5% during the fourth quarter. Florida Trust Wealth Management Co now owns 8,810 shares of the medical research company’s stock worth $751,000 after acquiring an additional 132 shares during the last quarter. McIlrath & Eck LLC increased its stake in Edwards Lifesciences by 14.6% during the fourth quarter. McIlrath & Eck LLC now owns 1,057 shares of the medical research company’s stock worth $90,000 after acquiring an additional 135 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its stake in Edwards Lifesciences by 0.9% during the fourth quarter. Quadrant Capital Group LLC now owns 15,113 shares of the medical research company’s stock worth $1,288,000 after acquiring an additional 136 shares during the last quarter. Hedge funds and other institutional investors own 79.46% of the company’s stock.
Edwards Lifesciences Price Performance
EW opened at $83.69 on Wednesday. The stock’s 50-day moving average price is $87.77 and its 200 day moving average price is $83.85. Edwards Lifesciences Corporation has a 12-month low of $72.30 and a 12-month high of $96.29. The company has a current ratio of 4.42, a quick ratio of 3.63 and a debt-to-equity ratio of 0.06. The firm has a market cap of $48.19 billion, a price-to-earnings ratio of 48.10, a PEG ratio of 2.09 and a beta of 0.86.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on EW. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Edwards Lifesciences in a research note on Friday, July 17th. Piper Sandler reissued an “overweight” rating and set a $101.00 price objective (up from $100.00) on shares of Edwards Lifesciences in a research report on Friday. Robert W. Baird raised their price objective on Edwards Lifesciences from $85.00 to $87.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Wolfe Research upgraded shares of Edwards Lifesciences from a “peer perform” rating to an “outperform” rating and set a $92.00 price objective on the stock in a report on Wednesday, April 1st. Finally, JPMorgan Chase & Co. upped their target price on shares of Edwards Lifesciences from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. Seventeen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $100.27.
Check Out Our Latest Stock Analysis on Edwards Lifesciences
Insider Activity
In related news, SVP Andrew M. Dahl sold 568 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $86.08, for a total transaction of $48,893.44. Following the sale, the senior vice president directly owned 15,334 shares of the company’s stock, valued at $1,319,950.72. This represents a 3.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Daniel J. Lippis sold 1,019 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $83.01, for a total transaction of $84,587.19. Following the sale, the vice president owned 33,934 shares in the company, valued at approximately $2,816,861.34. This trade represents a 2.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 45,577 shares of company stock valued at $3,855,527. 0.31% of the stock is currently owned by company insiders.
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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