Baker Avenue Asset Management LP Invests $249,000 in Edwards Lifesciences Co. (NYSE:EW)

Baker Avenue Asset Management LP bought a new position in Edwards Lifesciences Co. (NYSE:EW - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,369 shares of the medical research company's stock, valued at approximately $249,000.

Several other hedge funds and other institutional investors have also bought and sold shares of EW. Crowley Wealth Management Inc. bought a new position in shares of Edwards Lifesciences during the 4th quarter valued at $26,000. Millstone Evans Group LLC bought a new position in shares of Edwards Lifesciences during the fourth quarter valued at about $29,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Edwards Lifesciences in the fourth quarter worth about $30,000. Roble Belko & Company Inc bought a new stake in shares of Edwards Lifesciences in the 4th quarter valued at about $46,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in Edwards Lifesciences during the 4th quarter valued at about $54,000. Hedge funds and other institutional investors own 79.46% of the company's stock.

Insider Activity

In related news, VP Daniel J. Lippis sold 400 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $69.48, for a total value of $27,792.00. Following the transaction, the vice president now owns 22,588 shares in the company, valued at approximately $1,569,414.24. This represents a 1.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven R. Loranger sold 5,739 shares of the business's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $76.42, for a total value of $438,574.38. Following the completion of the transaction, the director now directly owns 60,372 shares of the company's stock, valued at approximately $4,613,628.24. This trade represents a 8.68 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,681 shares of company stock valued at $6,492,703. Corporate insiders own 1.29% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Stifel Nicolaus upgraded shares of Edwards Lifesciences from a "hold" rating to a "buy" rating and raised their target price for the stock from $75.00 to $90.00 in a report on Thursday, January 30th. StockNews.com raised shares of Edwards Lifesciences from a "hold" rating to a "buy" rating in a research note on Thursday. Royal Bank of Canada reissued an "outperform" rating and issued a $85.00 target price on shares of Edwards Lifesciences in a research note on Wednesday, February 12th. Truist Financial lowered their price target on Edwards Lifesciences from $78.00 to $75.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Finally, Robert W. Baird boosted their target price on Edwards Lifesciences from $72.00 to $75.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, Edwards Lifesciences presently has a consensus rating of "Hold" and a consensus price target of $79.45.

Edwards Lifesciences Price Performance

Shares of NYSE EW traded down $0.81 during midday trading on Friday, reaching $73.82. The stock had a trading volume of 3,814,732 shares, compared to its average volume of 5,031,137. The stock has a 50-day moving average of $71.48 and a 200-day moving average of $71.50. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $95.25. The company has a market capitalization of $43.40 billion, a price-to-earnings ratio of 10.59, a price-to-earnings-growth ratio of 4.82 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 - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.60 by $0.04. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the firm earned $0.66 earnings per share. Edwards Lifesciences's revenue was up 6.2% on a year-over-year basis. As a group, research analysts anticipate that Edwards Lifesciences Co. will post 2.45 EPS for the current fiscal year.

Edwards Lifesciences 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.