Wealth Enhancement Advisory Services LLC Acquires 9,188 Shares of Edwards Lifesciences Corporation (NYSE:EW)

Wealth Enhancement Advisory Services LLC grew its holdings in Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 13.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 77,016 shares of the medical research company's stock after purchasing an additional 9,188 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Edwards Lifesciences were worth $5,582,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings 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 purchasing an additional 6,537,494 shares during the last quarter. Wellington Management Group LLP raised its holdings 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 purchasing an additional 1,678,154 shares during the last quarter. Geode Capital Management LLC increased its holdings in 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 during the last quarter. Fisher Asset Management LLC increased its holdings in Edwards Lifesciences by 7.7% during the fourth quarter. Fisher Asset Management LLC now owns 9,775,276 shares of the medical research company's stock worth $723,664,000 after buying an additional 696,965 shares during the last quarter. Finally, Norges Bank acquired a new position in Edwards Lifesciences during the fourth quarter worth $610,895,000. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Edwards Lifesciences Stock Performance

Shares of Edwards Lifesciences stock traded up $0.92 during trading on Friday, reaching $78.07. The company's stock had a trading volume of 6,205,587 shares, compared to its average volume of 5,242,644. The business's 50-day moving average price is $75.62 and its 200-day moving average price is $73.15. The firm has a market cap of $45.80 billion, a PE ratio of 11.15, a P/E/G ratio of 3.94 and a beta of 1.12. Edwards Lifesciences Corporation has a 52 week low of $58.93 and a 52 week high of $95.25. 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 announced 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 net margin of 75.48% and a return on equity of 16.62%. The company had revenue of $1.41 billion during the quarter, compared to analysts' expectations of $1.40 billion. During the same quarter in the previous year, the business posted $0.66 earnings per share. Edwards Lifesciences's quarterly revenue was up 6.2% on a year-over-year basis. Equities analysts forecast that Edwards Lifesciences Corporation will post 2.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on EW shares. Truist Financial lowered their target price on shares of Edwards Lifesciences from $78.00 to $75.00 and set a "hold" rating on the stock in a report on Friday, April 11th. Piper Sandler lifted their price target on Edwards Lifesciences from $80.00 to $83.00 and gave the stock an "overweight" rating in a report on Tuesday, May 13th. Citigroup reiterated a "buy" rating and set a $95.00 price target (up previously from $84.00) on shares of Edwards Lifesciences in a report on Thursday, May 22nd. Canaccord Genuity Group lifted their price target on Edwards Lifesciences from $71.00 to $75.00 and gave the stock a "hold" rating in a report on Friday, April 25th. Finally, Robert W. Baird lifted 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. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $80.20.

Insider Buying and Selling

In other Edwards Lifesciences news, CEO Bernard J. Zovighian sold 5,980 shares of the business's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $74.91, for a total transaction of $447,961.80. Following the completion of the transaction, the chief executive officer now owns 58,284 shares of the company's stock, valued at approximately $4,366,054.44. The trade was a 9.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Scott B. Ullem sold 11,250 shares of the business's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $74.40, for a total value of $837,000.00. Following the transaction, the chief financial officer now directly owns 41,098 shares of the company's stock, valued at approximately $3,057,691.20. The trade was a 21.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,648 shares of company stock valued at $2,998,866 over the last quarter. 0.34% of the stock is owned by company insiders.

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.