Edwards Lifesciences Corporation (NYSE:EW) Shares Acquired by IFP Advisors Inc

Key Points

• IFP Advisors Inc increased their stake in Edwards Lifesciences by 113.6%, owning 6,103 shares valued at approximately $442,000 as of the latest SEC filing.
• Recent analyst reports have generally raised target prices for Edwards Lifesciences, with a consensus target price of $85.00 and a rating of "Moderate Buy".
• Edwards Lifesciences reported earnings of $0.67 per share, exceeding estimates, with revenues reaching $1.53 billion for the quarter.

IFP Advisors Inc raised its holdings in shares of Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 113.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,103 shares of the medical research company's stock after purchasing an additional 3,246 shares during the period. IFP Advisors Inc's holdings in Edwards Lifesciences were worth $442,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vega Investment Solutions bought a new position in Edwards Lifesciences in the 4th quarter valued at about $27,000. Global X Japan Co. Ltd. boosted its holdings in shares of Edwards Lifesciences by 116.1% in the first quarter. Global X Japan Co. Ltd. now owns 402 shares of the medical research company's stock valued at $29,000 after acquiring an additional 216 shares in the last quarter. Tradewinds Capital Management LLC increased its position in shares of Edwards Lifesciences by 102.5% during the 1st quarter. Tradewinds Capital Management LLC now owns 405 shares of the medical research company's stock valued at $29,000 after purchasing an additional 205 shares during the period. Rossby Financial LCC bought a new position in Edwards Lifesciences during the first quarter valued at about $29,000. Finally, ORG Wealth Partners LLC acquired a new position in Edwards Lifesciences during the first quarter worth about $38,000. Institutional investors and hedge funds own 79.46% of the company's stock.

Analyst Ratings Changes

EW has been the subject of a number of research reports. Truist Financial raised their price objective on Edwards Lifesciences from $81.00 to $82.00 and gave the stock a "hold" rating in a research report on Friday. Stifel Nicolaus increased their target price on shares of Edwards Lifesciences from $90.00 to $95.00 and gave the company a "buy" rating in a research note on Friday. Robert W. Baird upped their price objective on Edwards Lifesciences from $78.00 to $79.00 and gave the company a "neutral" rating in a research note on Friday. 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. Finally, Argus raised Edwards Lifesciences to a "strong-buy" rating in a research note on Thursday, July 10th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Edwards Lifesciences has a consensus rating of "Moderate Buy" and a consensus price target of $85.00.

Edwards Lifesciences Trading Down 1.3%

Shares of NYSE EW traded down $1.04 during midday trading on Monday, hitting $78.96. 3,076,452 shares of the company traded hands, compared to its average volume of 4,553,578. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.66 and a current ratio of 4.45. The stock has a 50-day moving average price of $76.58 and a 200 day moving average price of $73.55. Edwards Lifesciences Corporation has a 12-month low of $59.41 and a 12-month high of $83.00. The firm has a market cap of $46.32 billion, a P/E ratio of 11.35, a P/E/G ratio of 4.00 and a beta of 1.11.

Edwards Lifesciences (NYSE:EW - Get Free Report) last posted its earnings results on Thursday, July 24th. The medical research company reported $0.67 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.05. Edwards Lifesciences had a return on equity of 15.25% and a net margin of 72.96%. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the company earned $0.70 EPS. The company's quarterly revenue was up 11.9% compared to the same quarter last year. As a group, analysts expect that Edwards Lifesciences Corporation will post 2.45 earnings per share for the current year.

Insider Activity at Edwards Lifesciences

In other news, insider Larry L. Wood sold 8,950 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $75.23, for a total transaction of $673,308.50. Following the sale, the insider directly owned 206,900 shares in the company, valued at $15,565,087. This trade represents a 4.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Scott B. Ullem sold 11,250 shares of the business's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $74.40, for a total value of $837,000.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold 30,848 shares of company stock worth $2,314,488 in the last 90 days. 1.29% of the stock is owned by insiders.

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.