Ignite Planners LLC Buys New Position in Edwards Lifesciences Corporation (NYSE:EW)

Ignite Planners LLC purchased a new position in shares of Edwards Lifesciences Corporation (NYSE:EW - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 29,610 shares of the medical research company's stock, valued at approximately $2,226,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of EW. Brighton Jones LLC purchased a new stake in Edwards Lifesciences during the 4th quarter worth about $266,000. Bank Pictet & Cie Europe AG increased its stake in shares of Edwards Lifesciences by 16.7% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 10,231 shares of the medical research company's stock worth $757,000 after buying an additional 1,463 shares during the period. Teacher Retirement System of Texas increased its stake in shares of Edwards Lifesciences by 780.6% during the fourth quarter. Teacher Retirement System of Texas now owns 35,533 shares of the medical research company's stock worth $2,631,000 after buying an additional 31,498 shares during the period. Millstone Evans Group LLC purchased a new stake in shares of Edwards Lifesciences during the fourth quarter worth approximately $29,000. Finally, Mizuho Securities USA LLC increased its stake in shares of Edwards Lifesciences by 43.1% during the fourth quarter. Mizuho Securities USA LLC now owns 55,900 shares of the medical research company's stock worth $4,138,000 after buying an additional 16,838 shares during the period. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 2,570 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $77.40, for a total value of $198,918.00. Following the completion of the sale, the vice president owned 50,356 shares of the company's stock, valued at approximately $3,897,554.40. This trade represents a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Bernard J. Zovighian sold 5,980 shares of the firm's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $74.91, for a total value of $447,961.80. Following the completion of the sale, the chief executive officer directly owned 58,284 shares of the company's stock, valued at approximately $4,366,054.44. This trade represents a 9.31% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,848 shares of company stock worth $2,314,488. Corporate insiders own 1.29% of the company's stock.

Edwards Lifesciences Stock Performance

Shares of NYSE EW traded down $1.22 during mid-day trading on Thursday, hitting $75.69. 4,366,065 shares of the company were exchanged, compared to its average volume of 4,459,376. The company has a quick ratio of 3.66, a current ratio of 4.45 and a debt-to-equity ratio of 0.06. The stock has a 50 day simple moving average of $76.56 and a 200-day simple moving average of $73.51. Edwards Lifesciences Corporation has a 1-year low of $58.93 and a 1-year high of $78.90. The firm has a market cap of $44.40 billion, a price-to-earnings ratio of 10.83, a price-to-earnings-growth ratio of 3.83 and a beta of 1.11.

Edwards Lifesciences (NYSE:EW - Get Free Report) last issued its quarterly 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. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.40 billion. Edwards Lifesciences had a return on equity of 16.62% and a net margin of 75.48%. The company's revenue for the quarter was up 6.2% on a year-over-year basis. During the same period last year, the company earned $0.66 earnings per share. On average, sell-side analysts forecast that Edwards Lifesciences Corporation will post 2.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on EW shares. Dbs Bank upgraded shares of Edwards Lifesciences to a "hold" rating in a research note on Monday, June 2nd. Wall Street Zen downgraded Edwards Lifesciences from a "buy" rating to a "hold" rating in a research note on Friday, May 16th. Citigroup restated a "buy" rating and set a $95.00 price target (up previously from $84.00) on shares of Edwards Lifesciences in a research note on Thursday, May 22nd. Piper Sandler raised their target price on shares of Edwards Lifesciences from $80.00 to $83.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 13th. Finally, Evercore ISI raised their target price on shares of Edwards Lifesciences from $73.00 to $77.00 and gave the stock an "in-line" rating in a research report on Tuesday, July 8th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $81.00.

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.