Diversify Wealth Management LLC Increases Holdings in Edwards Lifesciences Corporation (NYSE:EW)

Diversify Wealth Management LLC lifted its stake in Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 22.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,982 shares of the medical research company's stock after purchasing an additional 8,541 shares during the period. Diversify Wealth Management LLC's holdings in Edwards Lifesciences were worth $3,508,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cerity Partners LLC boosted its holdings in Edwards Lifesciences by 67.9% in the 1st quarter. Cerity Partners LLC now owns 212,923 shares of the medical research company's stock worth $15,433,000 after buying an additional 86,089 shares during the period. Telos Capital Management Inc. boosted its holdings in Edwards Lifesciences by 7.1% in the 1st quarter. Telos Capital Management Inc. now owns 55,259 shares of the medical research company's stock worth $4,005,000 after buying an additional 3,665 shares during the period. Alps Advisors Inc. bought a new position in Edwards Lifesciences in the 1st quarter worth $369,000. Allworth Financial LP boosted its holdings in shares of Edwards Lifesciences by 6.3% during the 1st quarter. Allworth Financial LP now owns 3,513 shares of the medical research company's stock valued at $264,000 after purchasing an additional 208 shares during the last quarter. Finally, Banque Pictet & Cie SA boosted its holdings in shares of Edwards Lifesciences by 19.2% during the 1st quarter. Banque Pictet & Cie SA now owns 187,115 shares of the medical research company's stock valued at $13,562,000 after purchasing an additional 30,147 shares during the last quarter. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on EW. Canaccord Genuity Group increased their price objective on shares of Edwards Lifesciences from $71.00 to $75.00 and gave the company a "hold" rating in a report on Friday, April 25th. Piper Sandler increased their price objective on shares of Edwards Lifesciences from $80.00 to $83.00 and gave the company an "overweight" rating in a report on Tuesday, May 13th. Dbs Bank raised shares of Edwards Lifesciences to a "hold" rating in a report on Monday, June 2nd. Evercore ISI increased their price objective on shares of Edwards Lifesciences from $73.00 to $77.00 and gave the company an "in-line" rating in a report on Tuesday. Finally, Wall Street Zen downgraded shares of Edwards Lifesciences from a "buy" rating to a "hold" rating in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Edwards Lifesciences presently has a consensus rating of "Hold" and an average price target of $80.40.

Insider Buying and Selling at Edwards Lifesciences

In other news, VP Daveen Chopra sold 1,500 shares of the firm's stock in a transaction that occurred 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 transaction, the vice president directly owned 33,496 shares of the company's stock, valued at approximately $2,514,879.68. This trade represents a 4.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Bernard J. Zovighian sold 5,980 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $74.91, for a total transaction of $447,961.80. Following the transaction, the chief executive officer directly owned 58,284 shares in the company, valued at approximately $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 quarter, insiders sold 40,348 shares of company stock valued at $2,977,683. 1.29% of the stock is owned by corporate insiders.

Edwards Lifesciences Stock Performance

Edwards Lifesciences stock opened at $78.79 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.45 and a quick ratio of 3.66. Edwards Lifesciences Corporation has a 1-year low of $58.93 and a 1-year high of $95.25. The firm has a market capitalization of $46.22 billion, a P/E ratio of 11.26, a price-to-earnings-growth ratio of 3.88 and a beta of 1.11. The company's 50-day moving average is $76.25 and its 200 day moving average is $73.36.

Edwards Lifesciences (NYSE:EW - Get Free Report) last posted its quarterly earnings data 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 net margin of 75.48% and a return on equity of 16.62%. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the company posted $0.66 EPS. The firm's revenue for the quarter was up 6.2% on a year-over-year basis. Research analysts forecast that Edwards Lifesciences Corporation will post 2.45 EPS for the current year.

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.

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