Advisor Resource Council Acquires Shares of 7,991 Edwards Lifesciences Corporation (NYSE:EW)

Advisor Resource Council purchased a new position in Edwards Lifesciences Corporation (NYSE:EW - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,991 shares of the medical research company's stock, valued at approximately $576,000.

Other hedge funds also recently modified their holdings of the company. ORG Wealth Partners LLC bought a new position in Edwards Lifesciences in the first quarter valued at approximately $38,000. Global X Japan Co. Ltd. increased its stake in shares of Edwards Lifesciences by 116.1% in the 1st quarter. Global X Japan Co. Ltd. now owns 402 shares of the medical research company's stock valued at $29,000 after purchasing an additional 216 shares during the last quarter. Harrell Investment Partners LLC raised its holdings in shares of Edwards Lifesciences by 50.6% during the 1st quarter. Harrell Investment Partners LLC now owns 17,296 shares of the medical research company's stock worth $1,254,000 after buying an additional 5,811 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Edwards Lifesciences by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 69,069 shares of the medical research company's stock worth $5,006,000 after buying an additional 1,827 shares in the last quarter. Finally, Wolf Group Capital Advisors bought a new stake in shares of Edwards Lifesciences during the 1st quarter worth $250,000. Institutional investors own 79.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on EW shares. Wall Street Zen downgraded Edwards Lifesciences from a "buy" rating to a "hold" rating in a research note on Friday, May 16th. Truist Financial lowered their price objective on shares of Edwards Lifesciences from $78.00 to $75.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Citigroup reissued a "buy" rating and issued a $95.00 price objective (up previously from $84.00) on shares of Edwards Lifesciences in a research note on Thursday, May 22nd. Robert W. Baird boosted their target price on shares of Edwards Lifesciences from $72.00 to $75.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. Finally, Piper Sandler upped their price target on shares of Edwards Lifesciences from $80.00 to $83.00 and gave the stock an "overweight" rating in a report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Edwards Lifesciences presently has an average rating of "Hold" and an average price target of $80.20.

Insider Buying and Selling at Edwards Lifesciences

In other news, VP Donald E. Bobo, Jr. sold 2,570 shares of the company's stock in a transaction that occurred 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 transaction, the vice president now directly owns 50,356 shares of the company's stock, valued at $3,897,554.40. This represents a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Bernard J. Zovighian sold 5,980 shares of Edwards Lifesciences stock in a transaction on Monday, May 5th. The stock was sold at an average price of $74.91, for a total value of $447,961.80. Following the sale, the chief executive officer now owns 58,284 shares in the company, valued at $4,366,054.44. This trade represents a 9.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,898 shares of company stock worth $3,796,154. 0.34% of the stock is owned by corporate insiders.

Edwards Lifesciences Stock Up 0.7%

EW traded up $0.54 during midday trading on Tuesday, hitting $75.86. The company had a trading volume of 4,613,885 shares, compared to its average volume of 5,245,027. The company has a market capitalization of $44.50 billion, a price-to-earnings ratio of 10.84, a PEG ratio of 3.80 and a beta of 1.12. The stock's 50 day moving average price is $75.16 and its 200 day moving average price is $73.03. The company has a quick ratio of 3.66, a current ratio of 4.45 and a debt-to-equity ratio of 0.06. Edwards Lifesciences Corporation has a 52 week low of $58.93 and a 52 week high of $95.25.

Edwards Lifesciences (NYSE:EW - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.60 by $0.04. Edwards Lifesciences had a return on equity of 16.62% and a net margin of 75.48%. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the business earned $0.66 EPS. The firm's revenue for the quarter was up 6.2% on a year-over-year basis. On average, research analysts anticipate that Edwards Lifesciences Corporation will post 2.45 earnings per share for the current fiscal year.

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.