Equitable Trust Co. Grows Stock Position in Edwards Lifesciences Co. (NYSE:EW)

Equitable Trust Co. boosted its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 379.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 65,888 shares of the medical research company’s stock after purchasing an additional 52,154 shares during the period. Equitable Trust Co.’s holdings in Edwards Lifesciences were worth $4,348,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Empowered Funds LLC boosted its position in Edwards Lifesciences by 151.2% in the first quarter. Empowered Funds LLC now owns 20,123 shares of the medical research company’s stock valued at $1,923,000 after buying an additional 12,112 shares during the last quarter. SG Americas Securities LLC grew its position in Edwards Lifesciences by 236.4% during the 1st quarter. SG Americas Securities LLC now owns 97,554 shares of the medical research company’s stock worth $9,322,000 after purchasing an additional 68,556 shares during the period. Oppenheimer & Co. Inc. raised its stake in shares of Edwards Lifesciences by 23.4% during the 1st quarter. Oppenheimer & Co. Inc. now owns 26,253 shares of the medical research company’s stock valued at $2,509,000 after buying an additional 4,977 shares during the last quarter. Illinois Municipal Retirement Fund boosted its stake in shares of Edwards Lifesciences by 116.3% in the first quarter. Illinois Municipal Retirement Fund now owns 92,023 shares of the medical research company’s stock worth $8,794,000 after buying an additional 49,484 shares during the last quarter. Finally, Forsta AP Fonden grew its holdings in Edwards Lifesciences by 9.4% during the first quarter. Forsta AP Fonden now owns 146,100 shares of the medical research company’s stock worth $13,961,000 after acquiring an additional 12,600 shares during the period. Institutional investors and hedge funds own 79.46% of the company’s stock.

Edwards Lifesciences Price Performance

EW stock opened at $66.22 on Friday. Edwards Lifesciences Co. has a 52-week low of $58.93 and a 52-week high of $96.12. The business has a fifty day moving average of $67.59 and a two-hundred day moving average of $76.96. The stock has a market cap of $39.89 billion, a price-to-earnings ratio of 9.56, a price-to-earnings-growth ratio of 3.74 and a beta of 1.12. The company has a quick ratio of 2.87, a current ratio of 3.71 and a debt-to-equity ratio of 0.08.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings data on Thursday, October 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.67. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.57 billion. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 22.56%. Edwards Lifesciences’s revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.59 EPS. As a group, research analysts anticipate that Edwards Lifesciences Co. will post 2.57 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on EW. Wells Fargo & Company lowered their price objective on Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Monday, September 9th. UBS Group lowered their price target on shares of Edwards Lifesciences from $90.00 to $75.00 and set a “neutral” rating on the stock in a report on Tuesday, September 10th. Oppenheimer reaffirmed an “outperform” rating and issued a $90.00 price objective on shares of Edwards Lifesciences in a report on Thursday, September 12th. Evercore ISI lowered their target price on shares of Edwards Lifesciences from $76.00 to $70.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 1st. Finally, Truist Financial cut their price target on Edwards Lifesciences from $71.00 to $70.00 and set a “hold” rating for the company in a research note on Friday, October 25th. Seventeen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Edwards Lifesciences currently has an average rating of “Hold” and an average target price of $75.67.

Insider Buying and Selling

In other news, VP Daveen Chopra sold 1,250 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total transaction of $87,437.50. Following the completion of the transaction, the vice president now directly owns 29,333 shares in the company, valued at $2,051,843.35. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, VP Daveen Chopra sold 1,250 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total transaction of $87,437.50. Following the sale, the vice president now owns 29,333 shares of the company’s stock, valued at approximately $2,051,843.35. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Larry L. Wood sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $65.91, for a total transaction of $1,647,750.00. Following the sale, the insider now directly owns 198,526 shares in the company, valued at approximately $13,084,848.66. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,250 shares of company stock valued at $2,746,988. Company insiders own 1.27% of the company’s stock.

Edwards Lifesciences Company 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.