Blueshift Asset Management LLC Buys Shares of 4,457 Edwards Lifesciences Co. (NYSE:EW)

Blueshift Asset Management LLC purchased a new position in Edwards Lifesciences Co. (NYSE:EW) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,457 shares of the medical research company’s stock, valued at approximately $294,000.

Other hedge funds have also recently modified their holdings of the company. Glenmede Trust Co. NA raised its stake in Edwards Lifesciences by 6.0% during the 3rd quarter. Glenmede Trust Co. NA now owns 381,168 shares of the medical research company’s stock valued at $25,153,000 after buying an additional 21,505 shares during the last quarter. Townsquare Capital LLC increased its position in Edwards Lifesciences by 20.5% during the third quarter. Townsquare Capital LLC now owns 5,208 shares of the medical research company’s stock valued at $344,000 after acquiring an additional 886 shares during the last quarter. Quantbot Technologies LP bought a new position in Edwards Lifesciences in the third quarter valued at about $13,635,000. Qsemble Capital Management LP purchased a new position in Edwards Lifesciences in the third quarter worth about $4,176,000. Finally, Private Trust Co. NA grew its stake in shares of Edwards Lifesciences by 8.6% during the 3rd quarter. Private Trust Co. NA now owns 2,931 shares of the medical research company’s stock valued at $193,000 after purchasing an additional 233 shares during the period. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Stock Performance

NYSE EW opened at $72.07 on Friday. The business’s 50 day moving average price is $68.01 and its 200-day moving average price is $75.32. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $96.12. The company has a market cap of $42.51 billion, a P/E ratio of 10.40, a P/E/G ratio of 4.01 and a beta of 1.12. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46.

Edwards Lifesciences (NYSE:EW) last announced its earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share for the quarter, meeting the consensus estimate of $0.67. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the prior year, the firm posted $0.59 earnings per share. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. Sell-side analysts predict that Edwards Lifesciences Co. will post 2.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Royal Bank of Canada raised their price objective on shares of Edwards Lifesciences from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday. Jefferies Financial Group downgraded shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and cut their price objective for the company from $85.00 to $70.00 in a research report on Wednesday, September 18th. Barclays reduced their price objective on Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Monday, September 9th. JPMorgan Chase & Co. boosted their price target on Edwards Lifesciences from $72.00 to $78.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Finally, Truist Financial reduced their price target on Edwards Lifesciences from $71.00 to $70.00 and set a “hold” rating for the company in a research report 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 presently has a consensus rating of “Hold” and an average target price of $76.85.

Insiders Place Their Bets

In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $69.51, for a total transaction of $347,550.00. Following the completion of the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,262,521.36. The trade was a 9.63 % 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 this link. Also, insider Larry L. Wood sold 25,000 shares of Edwards Lifesciences stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $65.91, for a total transaction of $1,647,750.00. Following the sale, the insider now owns 198,526 shares of the company’s stock, valued at $13,084,848.66. The trade was a 11.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 40,000 shares of company stock valued at $2,657,000 over the last 90 days. Insiders own 1.27% of the company’s stock.

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.