Fairtree Asset Management Pty Ltd Makes New Investment in Edwards Lifesciences Co. (NYSE:EW)

Fairtree Asset Management Pty Ltd acquired a new stake in shares of Edwards Lifesciences Co. (NYSE:EW - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 14,541 shares of the medical research company's stock, valued at approximately $1,076,000. Edwards Lifesciences accounts for approximately 1.0% of Fairtree Asset Management Pty Ltd's investment portfolio, making the stock its 23rd biggest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of EW. Janney Montgomery Scott LLC boosted its holdings in shares of Edwards Lifesciences by 0.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 43,095 shares of the medical research company's stock worth $3,190,000 after purchasing an additional 302 shares during the period. Brighton Jones LLC bought a new stake in shares of Edwards Lifesciences during the 4th quarter valued at $266,000. Blue Trust Inc. grew its position in shares of Edwards Lifesciences by 35.6% in the 4th quarter. Blue Trust Inc. now owns 10,914 shares of the medical research company's stock worth $808,000 after buying an additional 2,865 shares during the period. Union Bancaire Privee UBP SA bought a new position in shares of Edwards Lifesciences in the 4th quarter worth about $1,120,000. Finally, Mount Yale Investment Advisors LLC increased its stake in shares of Edwards Lifesciences by 1.9% during the fourth quarter. Mount Yale Investment Advisors LLC now owns 8,563 shares of the medical research company's stock valued at $634,000 after purchasing an additional 162 shares in the last quarter. 79.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Edwards Lifesciences

In other Edwards Lifesciences news, CEO Bernard J. Zovighian sold 6,164 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $69.51, for a total transaction of $428,459.64. Following the completion of the transaction, the chief executive officer now owns 59,083 shares of the company's stock, valued at $4,106,859.33. This represents a 9.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Daniel J. Lippis sold 400 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $69.48, for a total value of $27,792.00. Following the transaction, the vice president now owns 22,588 shares of the company's stock, valued at approximately $1,569,414.24. The trade was a 1.74% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,442 shares of company stock valued at $4,025,799. 0.34% of the stock is owned by company insiders.

Edwards Lifesciences Stock Up 0.5%

Shares of EW stock opened at $78.09 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89. Edwards Lifesciences Co. has a one year low of $58.93 and a one year high of $95.25. The company's fifty day moving average price is $73.35 and its 200-day moving average price is $72.50. The company has a market capitalization of $45.81 billion, a price-to-earnings ratio of 11.20, a PEG ratio of 4.82 and a beta of 1.12.

Edwards Lifesciences (NYSE:EW - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.04. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. The business had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.40 billion. During the same period last year, the firm earned $0.66 earnings per share. The business's quarterly revenue was up 6.2% on a year-over-year basis. Sell-side analysts expect that Edwards Lifesciences Co. will post 2.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on EW shares. Truist Financial dropped their target price on shares of Edwards Lifesciences from $78.00 to $75.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. Canaccord Genuity Group raised their price target 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. Evercore ISI reduced their price target on shares of Edwards Lifesciences from $75.00 to $73.00 and set an "in-line" rating for the company in a research note on Wednesday, February 12th. Piper Sandler lifted their target price on shares of Edwards Lifesciences from $80.00 to $83.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 13th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $85.00 price target on shares of Edwards Lifesciences in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Edwards Lifesciences currently has an average rating of "Hold" and a consensus target price of $80.20.

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.