Elk River Wealth Management LLC Has $4.89 Million Position in Edwards Lifesciences Co. (NYSE:EW)

Elk River Wealth Management LLC increased its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 1.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 74,163 shares of the medical research company’s stock after buying an additional 950 shares during the period. Elk River Wealth Management LLC’s holdings in Edwards Lifesciences were worth $4,894,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of EW. Crewe Advisors LLC acquired a new position in shares of Edwards Lifesciences in the 1st quarter valued at approximately $28,000. First Community Trust NA acquired a new stake in Edwards Lifesciences during the 2nd quarter valued at approximately $29,000. Riverview Trust Co acquired a new stake in shares of Edwards Lifesciences during the first quarter worth $34,000. Webster Bank N. A. bought a new stake in Edwards Lifesciences during the second quarter valued at $39,000. Finally, Peoples Bank KS bought a new stake in Edwards Lifesciences in the third quarter worth approximately $40,000. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Citigroup lowered their target price on Edwards Lifesciences from $83.00 to $77.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Daiwa America raised Edwards Lifesciences to a “strong-buy” rating in a research report on Wednesday, July 31st. Stifel Nicolaus reduced their price target on shares of Edwards Lifesciences from $85.00 to $70.00 and set a “hold” rating for the company in a research report on Thursday, July 25th. Wells Fargo & Company dropped their price objective on Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Monday, September 9th. Finally, Truist Financial lowered their target price on Edwards Lifesciences from $82.00 to $71.00 and set a “hold” rating on the stock in a research note on Friday, September 13th. Seventeen investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $75.77.

Insider Buying and Selling

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $66.77, for a total value of $333,850.00. Following the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at $3,133,916.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $66.77, for a total value of $333,850.00. Following the completion of the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,133,916.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Daveen Chopra sold 1,250 shares of the firm’s stock in a transaction dated 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 sale, the vice president now owns 29,333 shares of the company’s stock, valued at $2,051,843.35. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,250 shares of company stock worth $751,688 in the last ninety days. 1.29% of the stock is owned by insiders.

Edwards Lifesciences Price Performance

NYSE:EW traded up $0.77 during midday trading on Monday, hitting $68.90. The company had a trading volume of 429,113 shares, compared to its average volume of 4,555,753. The stock’s fifty day moving average price is $67.13 and its 200-day moving average price is $79.97. Edwards Lifesciences Co. has a 52-week low of $58.93 and a 52-week high of $96.12. The company has a quick ratio of 2.87, a current ratio of 3.71 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $41.52 billion, a PE ratio of 29.37, a P/E/G ratio of 2.83 and a beta of 1.13.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data on Wednesday, July 24th. The medical research company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.66 EPS. As a group, research analysts expect that Edwards Lifesciences Co. will post 2.71 earnings per share for the current year.

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.