Telos Capital Management Inc. Acquires 3,665 Shares of Edwards Lifesciences Corporation (NYSE:EW)

Telos Capital Management Inc. lifted its stake in Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 7.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 55,259 shares of the medical research company's stock after purchasing an additional 3,665 shares during the quarter. Telos Capital Management Inc.'s holdings in Edwards Lifesciences were worth $4,005,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Edwards Lifesciences by 10.4% during the 4th quarter. Vanguard Group Inc. now owns 69,132,036 shares of the medical research company's stock worth $5,117,845,000 after acquiring an additional 6,537,494 shares during the period. Wellington Management Group LLP grew its position in shares of Edwards Lifesciences by 5.3% during the fourth quarter. Wellington Management Group LLP now owns 33,210,879 shares of the medical research company's stock worth $2,458,601,000 after buying an additional 1,678,154 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Edwards Lifesciences by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 13,647,341 shares of the medical research company's stock worth $1,007,520,000 after buying an additional 126,194 shares in the last quarter. Norges Bank purchased a new stake in Edwards Lifesciences during the fourth quarter worth approximately $610,895,000. Finally, Brown Advisory Inc. lifted its stake in Edwards Lifesciences by 7.6% during the fourth quarter. Brown Advisory Inc. now owns 8,155,355 shares of the medical research company's stock worth $603,741,000 after purchasing an additional 575,699 shares during the last quarter. Institutional investors and hedge funds own 79.46% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on EW shares. Canaccord Genuity Group upped their price objective on Edwards Lifesciences from $71.00 to $75.00 and gave the stock a "hold" rating in a report on Friday, April 25th. Truist Financial dropped their target price on Edwards Lifesciences from $78.00 to $75.00 and set a "hold" rating on the stock in a report on Friday, April 11th. Evercore ISI lifted their target price on Edwards Lifesciences from $73.00 to $77.00 and gave the stock an "in-line" rating in a research report on Tuesday. Piper Sandler lifted their target price on Edwards Lifesciences from $80.00 to $83.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 13th. Finally, Wall Street Zen downgraded Edwards Lifesciences from a "buy" rating to a "hold" rating in a research note on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $80.40.

Edwards Lifesciences Stock Down 0.9%

Shares of EW traded down $0.73 during mid-day trading on Friday, reaching $78.07. The company's stock had a trading volume of 3,780,176 shares, compared to its average volume of 5,263,936. The business has a fifty day moving average of $76.30 and a 200 day moving average of $73.38. The company has a market cap of $45.79 billion, a price-to-earnings ratio of 11.15, a price-to-earnings-growth ratio of 3.96 and a beta of 1.11. Edwards Lifesciences Corporation has a 1 year low of $58.93 and a 1 year high of $91.49. 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 (NYSE:EW - Get Free Report) last released its earnings results on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share (EPS) for the quarter, beating 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 prior year, the company earned $0.66 earnings per share. The company's revenue for the quarter was up 6.2% on a year-over-year basis. As a group, analysts forecast that Edwards Lifesciences Corporation will post 2.45 earnings per share for the current fiscal year.

Insider Activity at Edwards Lifesciences

In other Edwards Lifesciences news, insider Larry L. Wood sold 8,950 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $75.23, for a total transaction of $673,308.50. Following the completion of the transaction, the insider owned 206,900 shares in the company, valued at $15,565,087. This trade represents a 4.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction, the chief financial officer owned 41,098 shares of the company's stock, valued at approximately $3,057,691.20. This represents a 21.49% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,348 shares of company stock valued at $2,977,683. Insiders own 1.29% of the company's stock.

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.