Caliber Wealth Management LLC KS Acquires Shares of 23,406 Edwards Lifesciences Corporation (NYSE:EW)

Key Points

• Caliber Wealth Management LLC purchased 23,406 shares of Edwards Lifesciences, valued at approximately $1.7 million, as part of their first-quarter acquisition strategy.
• Insider activity shows that executives, including Larry L. Wood and Bernard J. Zovighian, sold significant shares recently, decreasing their ownership percentages by 4.15% and 9.31%, respectively.
• Edwards Lifesciences' stock price declined by 1.6% during the recent trading session, with a current market cap of approximately $44.39 billion.

Caliber Wealth Management LLC KS purchased a new position in Edwards Lifesciences Corporation (NYSE:EW - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 23,406 shares of the medical research company's stock, valued at approximately $1,696,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Vega Investment Solutions acquired a new position in shares of Edwards Lifesciences in the 4th quarter valued at about $27,000. Global X Japan Co. Ltd. raised its holdings in shares of Edwards Lifesciences by 116.1% during the 1st quarter. Global X Japan Co. Ltd. now owns 402 shares of the medical research company's stock valued at $29,000 after buying an additional 216 shares during the period. Tradewinds Capital Management LLC raised its holdings in shares of Edwards Lifesciences by 102.5% during the 1st quarter. Tradewinds Capital Management LLC now owns 405 shares of the medical research company's stock valued at $29,000 after buying an additional 205 shares during the period. Rossby Financial LCC purchased a new stake in shares of Edwards Lifesciences during the 1st quarter valued at about $29,000. Finally, ORG Wealth Partners LLC purchased a new stake in shares of Edwards Lifesciences during the 1st quarter valued at about $38,000. 79.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Edwards Lifesciences

In related news, VP Daveen Chopra sold 1,500 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $75.08, for a total transaction of $112,620.00. Following the sale, the vice president directly owned 33,496 shares of the company's stock, valued at approximately $2,514,879.68. This represents a 4.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Larry L. Wood sold 8,950 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $75.23, for a total transaction of $673,308.50. Following the sale, the insider directly owned 206,900 shares in the company, valued at $15,565,087. This trade represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,848 shares of company stock worth $2,314,488 in the last three months. 1.29% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Royal Bank Of Canada lifted their price objective on Edwards Lifesciences from $85.00 to $89.00 and gave the stock an "outperform" rating in a report on Friday. Barclays boosted their price target on Edwards Lifesciences from $90.00 to $95.00 and gave the company an "overweight" rating in a report on Friday. Piper Sandler boosted their price target on Edwards Lifesciences from $83.00 to $90.00 and gave the company an "overweight" rating in a report on Friday. Argus upgraded Edwards Lifesciences to a "strong-buy" rating in a research report on Thursday, July 10th. Finally, Wall Street Zen upgraded Edwards Lifesciences from a "hold" rating to a "buy" rating in a research report on Saturday. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Edwards Lifesciences currently has a consensus rating of "Moderate Buy" and an average target price of $85.00.

Edwards Lifesciences Trading Down 1.9%

Edwards Lifesciences stock traded down $1.55 during trading hours on Monday, hitting $78.45. The company had a trading volume of 4,012,621 shares, compared to its average volume of 4,560,022. The company has a 50-day moving average price of $76.58 and a two-hundred day moving average price of $73.55. Edwards Lifesciences Corporation has a 1 year low of $59.41 and a 1 year high of $83.00. The firm has a market cap of $46.02 billion, a P/E ratio of 11.30, a P/E/G ratio of 4.00 and a beta of 1.11. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.66 and a current ratio of 4.45.

Edwards Lifesciences (NYSE:EW - Get Free Report) last posted its earnings results on Thursday, July 24th. The medical research company reported $0.67 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.05. Edwards Lifesciences had a net margin of 72.96% and a return on equity of 15.25%. The company had revenue of $1.53 billion during the quarter, compared to analysts' expectations of $1.49 billion. During the same quarter in the prior year, the company posted $0.70 earnings per share. Edwards Lifesciences's revenue for the quarter was up 11.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Edwards Lifesciences Corporation will post 2.45 earnings per share for the current 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.