Berry Wealth Group LP Raises Stock Holdings in Edwards Lifesciences Co. (NYSE:EW)

Berry Wealth Group LP increased its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 11.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,911 shares of the medical research company’s stock after buying an additional 406 shares during the quarter. Berry Wealth Group LP’s holdings in Edwards Lifesciences were worth $361,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its position in Edwards Lifesciences by 4.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 330,711 shares of the medical research company’s stock worth $31,603,000 after buying an additional 14,087 shares during the period. Empowered Funds LLC lifted its position in Edwards Lifesciences by 151.2% during the first quarter. Empowered Funds LLC now owns 20,123 shares of the medical research company’s stock worth $1,923,000 after buying an additional 12,112 shares during the period. Cetera Advisors LLC lifted its position in Edwards Lifesciences by 175.1% during the first quarter. Cetera Advisors LLC now owns 38,090 shares of the medical research company’s stock worth $3,640,000 after buying an additional 24,242 shares during the period. TD Asset Management Inc lifted its position in Edwards Lifesciences by 95.1% during the fourth quarter. TD Asset Management Inc now owns 1,323,611 shares of the medical research company’s stock worth $100,925,000 after buying an additional 645,204 shares during the period. Finally, Sei Investments Co. lifted its position in Edwards Lifesciences by 10.8% during the fourth quarter. Sei Investments Co. now owns 558,031 shares of the medical research company’s stock worth $42,550,000 after buying an additional 54,595 shares during the period. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

Edwards Lifesciences Stock Performance

NYSE:EW traded down $0.16 during trading hours on Friday, reaching $69.96. 6,521,766 shares of the stock were exchanged, compared to its average volume of 5,573,983. The company has a quick ratio of 2.87, a current ratio of 3.71 and a debt-to-equity ratio of 0.08. The firm has a 50 day simple moving average of $77.11 and a 200-day simple moving average of $84.78. Edwards Lifesciences Co. has a 52 week low of $58.93 and a 52 week high of $96.12. The stock has a market capitalization of $42.14 billion, a P/E ratio of 30.16, a P/E/G ratio of 2.92 and a beta of 1.11.

Edwards Lifesciences (NYSE:EW) last released its earnings results on Wednesday, July 24th. The medical research company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.65 billion. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. Edwards Lifesciences’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.66 EPS. As a group, sell-side analysts forecast that Edwards Lifesciences Co. will post 2.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on EW shares. Canaccord Genuity Group dropped their price target on Edwards Lifesciences from $85.00 to $77.00 and set a “hold” rating for the company in a research note on Thursday, July 25th. TD Cowen lowered Edwards Lifesciences from a “buy” rating to a “hold” rating and dropped their price target for the stock from $100.00 to $70.00 in a research note on Thursday, July 25th. JPMorgan Chase & Co. lowered Edwards Lifesciences from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $105.00 to $72.00 in a research note on Thursday, July 25th. Piper Sandler dropped their price target on Edwards Lifesciences from $88.00 to $73.00 and set a “neutral” rating for the company in a research note on Thursday, July 25th. Finally, The Goldman Sachs Group dropped their price target on Edwards Lifesciences from $107.00 to $91.00 and set a “buy” rating for the company in a research note on Friday, July 26th. Fourteen analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Edwards Lifesciences presently has a consensus rating of “Moderate Buy” and an average price target of $82.10.

Insider Buying and Selling

In related news, VP Daveen Chopra sold 1,250 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total value 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. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $93.29, for a total value of $466,450.00. Following the sale, the vice president now directly owns 46,936 shares in the company, valued at approximately $4,378,659.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Daveen Chopra sold 1,250 shares of Edwards Lifesciences stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total value of $87,437.50. Following the transaction, the vice president now owns 29,333 shares in the company, valued at $2,051,843.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,250 shares of company stock valued at $1,321,988. Insiders own 1.29% 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.