1248 Management LLC Acquires New Shares in Edwards Lifesciences Co. (NYSE:EW)

1248 Management LLC acquired a new stake in Edwards Lifesciences Co. (NYSE:EW - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 16,498 shares of the medical research company's stock, valued at approximately $1,221,000.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Edwards Lifesciences by 10.4% in the fourth quarter. Vanguard Group Inc. now owns 69,132,036 shares of the medical research company's stock valued at $5,117,845,000 after buying an additional 6,537,494 shares in the last quarter. Wellington Management Group LLP raised its position in Edwards Lifesciences by 5.3% during the fourth quarter. Wellington Management Group LLP now owns 33,210,879 shares of the medical research company's stock worth $2,458,601,000 after acquiring an additional 1,678,154 shares during the period. Geode Capital Management LLC grew its position in shares of Edwards Lifesciences by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 13,647,341 shares of the medical research company's stock valued at $1,007,520,000 after purchasing an additional 126,194 shares during the period. Fisher Asset Management LLC increased its stake in shares of Edwards Lifesciences by 7.7% during the fourth quarter. Fisher Asset Management LLC now owns 9,775,276 shares of the medical research company's stock worth $723,664,000 after purchasing an additional 696,965 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Edwards Lifesciences during the 4th quarter worth about $610,895,000. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EW has been the subject of a number of research analyst reports. Barclays increased their target price on Edwards Lifesciences from $88.00 to $90.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Wolfe Research cut shares of Edwards Lifesciences from a "hold" rating to a "strong sell" rating in a research report on Wednesday, February 12th. Piper Sandler raised shares of Edwards Lifesciences from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $73.00 to $80.00 in a research note on Thursday, April 24th. Morgan Stanley raised their target price on shares of Edwards Lifesciences from $70.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 12th. Finally, Stifel Nicolaus raised Edwards Lifesciences from a "hold" rating to a "buy" rating and increased their price target for the company from $75.00 to $90.00 in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $79.45.

Edwards Lifesciences Trading Down 0.6 %

Shares of Edwards Lifesciences stock traded down $0.49 during trading hours on Monday, reaching $75.16. The stock had a trading volume of 2,457,572 shares, compared to its average volume of 5,019,231. The firm has a market capitalization of $44.19 billion, a price-to-earnings ratio of 10.78, a P/E/G ratio of 4.82 and a beta of 1.12. Edwards Lifesciences Co. has a 1 year low of $58.93 and a 1 year high of $95.25. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. The firm has a 50 day simple moving average of $71.17 and a two-hundred day simple moving average of $71.35.

Edwards Lifesciences (NYSE:EW - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.04. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the business earned $0.66 earnings per share. The company's revenue was up 6.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Edwards Lifesciences Co. will post 2.45 earnings per share for the current year.

Insider Buying and Selling at Edwards Lifesciences

In related news, VP Daniel J. Lippis sold 400 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $69.48, for a total value of $27,792.00. Following the sale, the vice president now owns 22,588 shares of the company's stock, valued at approximately $1,569,414.24. This trade represents a 1.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 6,500 shares of Edwards Lifesciences stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $75.75, for a total transaction of $492,375.00. Following the completion of the sale, the vice president now owns 46,936 shares in the company, valued at approximately $3,555,402. This represents a 12.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,853 shares of company stock worth $5,163,062 in the last 90 days. 1.29% of the stock is owned by corporate insiders.

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.