Edgestream Partners L.P. Purchases New Shares in Edwards Lifesciences Corporation (NYSE:EW)

Edgestream Partners L.P. acquired a new position in Edwards Lifesciences Corporation (NYSE:EW - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 121,570 shares of the medical research company's stock, valued at approximately $8,811,000.

Several other large investors have also recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Edwards Lifesciences in the fourth quarter valued at $610,895,000. Vanguard Group Inc. increased its position in shares of Edwards Lifesciences by 10.4% in the fourth quarter. Vanguard Group Inc. now owns 69,132,036 shares of the medical research company's stock valued at $5,117,845,000 after buying an additional 6,537,494 shares in the last quarter. Marshall Wace LLP increased its position in shares of Edwards Lifesciences by 55.7% in the fourth quarter. Marshall Wace LLP now owns 5,813,419 shares of the medical research company's stock valued at $430,367,000 after buying an additional 2,079,642 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Edwards Lifesciences by 5.3% in the fourth quarter. Wellington Management Group LLP now owns 33,210,879 shares of the medical research company's stock valued at $2,458,601,000 after buying an additional 1,678,154 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Edwards Lifesciences in the fourth quarter valued at $92,631,000. Hedge funds and other institutional investors own 79.46% of the company's stock.

Edwards Lifesciences Stock Performance

EW stock traded up $0.10 during trading on Thursday, reaching $76.24. 4,140,708 shares of the company's stock were exchanged, compared to its average volume of 5,267,965. 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 1-year low of $58.93 and a 1-year high of $88.56. The company's fifty day moving average price is $76.45 and its 200-day moving average price is $73.42. The firm has a market cap of $44.72 billion, a PE ratio of 10.89, a P/E/G ratio of 3.82 and a beta of 1.11.

Edwards Lifesciences (NYSE:EW - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share (EPS) 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 company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the previous year, the firm posted $0.66 EPS. The firm's quarterly revenue was up 6.2% on a year-over-year basis. On average, research analysts expect that Edwards Lifesciences Corporation will post 2.45 EPS for the current fiscal year.

Insider Buying and Selling at Edwards Lifesciences

In related news, CFO Scott B. Ullem sold 11,250 shares of the firm's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $74.40, for a total transaction of $837,000.00. Following the completion of the transaction, the chief financial officer owned 41,098 shares of the company's stock, valued at $3,057,691.20. This trade represents a 21.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Bernard J. Zovighian sold 5,980 shares of the company'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 sale, the chief executive officer directly owned 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 30,848 shares of company stock valued at $2,314,488. Corporate insiders own 1.29% of the company's stock.

Analyst Upgrades and Downgrades

EW has been the subject of a number of recent research reports. Piper Sandler lifted their price objective on Edwards Lifesciences from $80.00 to $83.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 13th. Citigroup reiterated a "buy" rating and set a $95.00 price objective (up previously from $84.00) on shares of Edwards Lifesciences in a research report on Thursday, May 22nd. Morgan Stanley lifted their price objective on Edwards Lifesciences from $75.00 to $81.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Canaccord Genuity Group lifted their price objective on Edwards Lifesciences from $71.00 to $75.00 and gave the stock a "hold" rating in a research report on Friday, April 25th. Finally, Robert W. Baird lifted their price objective on Edwards Lifesciences from $72.00 to $75.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. One equities research 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 stock. According to MarketBeat.com, Edwards Lifesciences has a consensus rating of "Hold" and a consensus target price of $81.00.

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.