Birch Hill Investment Advisors LLC Has $54.84 Million Position in Edwards Lifesciences Co. (NYSE:EW)

Birch Hill Investment Advisors LLC increased its stake in Edwards Lifesciences Co. (NYSE:EW - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 756,599 shares of the medical research company's stock after purchasing an additional 17,820 shares during the quarter. Edwards Lifesciences makes up 2.6% of Birch Hill Investment Advisors LLC's investment portfolio, making the stock its 13th largest holding. Birch Hill Investment Advisors LLC owned approximately 0.13% of Edwards Lifesciences worth $54,838,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Alyeska Investment Group L.P. acquired a new position in shares of Edwards Lifesciences during the fourth quarter worth approximately $49,038,000. Simplify Asset Management Inc. acquired a new position in shares of Edwards Lifesciences during the fourth quarter worth approximately $5,979,000. Truist Financial Corp lifted its holdings in shares of Edwards Lifesciences by 19.3% during the fourth quarter. Truist Financial Corp now owns 41,340 shares of the medical research company's stock worth $3,060,000 after buying an additional 6,676 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of Edwards Lifesciences by 786.9% during the fourth quarter. Assetmark Inc. now owns 1,082 shares of the medical research company's stock worth $80,000 after buying an additional 960 shares during the last quarter. Finally, Advanced Portfolio Management LLC acquired a new position in shares of Edwards Lifesciences during the fourth quarter worth approximately $328,000. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Edwards Lifesciences news, CEO Bernard J. Zovighian sold 5,980 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $74.91, for a total value of $447,961.80. Following the transaction, the chief executive officer now owns 58,284 shares of the company's stock, valued at approximately $4,366,054.44. This represents a 9.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Scott B. Ullem sold 11,250 shares of the stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $70.87, for a total value of $797,287.50. Following the completion of the transaction, the chief financial officer now directly owns 30,387 shares in the company, valued at $2,153,526.69. The trade was a 27.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,898 shares of company stock valued at $3,796,154 over the last 90 days. 1.29% of the stock is owned by company insiders.

Edwards Lifesciences Price Performance

Shares of NYSE:EW traded down $1.51 during midday trading on Tuesday, reaching $73.31. The company's stock had a trading volume of 3,002,914 shares, compared to its average volume of 5,223,361. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $95.25. The company has a market capitalization of $43.00 billion, a P/E ratio of 10.52, a P/E/G ratio of 4.82 and a beta of 1.12. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89. The business's fifty day simple moving average is $74.70 and its 200-day simple moving average is $72.96.

Edwards Lifesciences (NYSE:EW - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $1.40 billion. During the same period last year, the company posted $0.66 earnings per share. The firm's quarterly revenue was up 6.2% compared to the same quarter last year. As a group, equities research analysts expect that Edwards Lifesciences Co. will post 2.45 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on EW. Robert W. Baird upped their price target on Edwards Lifesciences from $72.00 to $75.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. Citigroup reiterated a "buy" rating and issued a $95.00 price objective (up previously from $84.00) on shares of Edwards Lifesciences in a research report on Thursday, May 22nd. Piper Sandler upped their target price on Edwards Lifesciences from $80.00 to $83.00 and gave the company an "overweight" rating in a research note on Tuesday, May 13th. Wall Street Zen cut Edwards Lifesciences from a "buy" rating to a "hold" rating in a research report on Friday, May 16th. Finally, Dbs Bank upgraded shares of Edwards Lifesciences to a "hold" rating in a research note on Monday, June 2nd. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $80.20.

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.