Hawk Ridge Capital Management LP Purchases Shares of 263,965 Edwards Lifesciences Corporation $EW

Key Points

• Hawk Ridge Capital Management LP has acquired 263,965 shares of Edwards Lifesciences Corporation valued at approximately $19.1 million in Q1 2023.
• Insider Larry L. Wood sold 8,950 shares at an average price of $75.23, resulting in a 4.15% decrease in his ownership of the stock.
• Edwards Lifesciences exceeded analyst expectations in Q2 2023 with an EPS of $0.67, reporting revenues of $1.53 billion, an 11.9% year-over-year increase.

Hawk Ridge Capital Management LP bought a new position in Edwards Lifesciences Corporation (NYSE:EW - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 263,965 shares of the medical research company's stock, valued at approximately $19,132,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new stake in Edwards Lifesciences in the 1st quarter worth approximately $26,000. Vega Investment Solutions acquired a new stake in Edwards Lifesciences in the 4th quarter worth approximately $27,000. SouthState Corp acquired a new stake in Edwards Lifesciences in the 1st quarter worth approximately $27,000. Global X Japan Co. Ltd. lifted its holdings in Edwards Lifesciences by 116.1% in the 1st quarter. Global X Japan Co. Ltd. now owns 402 shares of the medical research company's stock worth $29,000 after purchasing an additional 216 shares during the last quarter. Finally, Tradewinds Capital Management LLC lifted its holdings in Edwards Lifesciences by 102.5% in the 1st quarter. Tradewinds Capital Management LLC now owns 405 shares of the medical research company's stock worth $29,000 after purchasing an additional 205 shares during the last quarter. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Edwards Lifesciences news, VP Daniel J. Lippis sold 4,114 shares of the company's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $79.46, for a total value of $326,898.44. Following the sale, the vice president directly owned 22,002 shares in the company, valued at $1,748,278.92. This represents a 15.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Larry L. Wood sold 8,950 shares of the company's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $78.06, for a total value of $698,637.00. Following the completion of the sale, the insider owned 206,900 shares in the company, valued at $16,150,614. This trade represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,014 shares of company stock worth $1,698,844 over the last quarter. Company insiders own 0.34% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Citigroup restated a "buy" rating and issued a $95.00 target price (up from $84.00) on shares of Edwards Lifesciences in a report on Thursday, May 22nd. Wells Fargo & Company upped their price target on Edwards Lifesciences from $84.00 to $88.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Dbs Bank upgraded Edwards Lifesciences to a "hold" rating in a report on Monday, June 2nd. The Goldman Sachs Group reiterated a "buy" rating on shares of Edwards Lifesciences in a report on Friday, July 25th. Finally, Wall Street Zen upgraded Edwards Lifesciences from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 30th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $85.90.

Edwards Lifesciences Stock Performance

Shares of NYSE EW traded down $0.66 during trading hours on Monday, reaching $80.28. The stock had a trading volume of 3,183,597 shares, compared to its average volume of 4,450,897. The business's fifty day moving average is $78.77 and its two-hundred day moving average is $75.21. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.68 and a quick ratio of 3.87. The company has a market cap of $47.13 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 3.90 and a beta of 1.07. Edwards Lifesciences Corporation has a twelve month low of $64.00 and a twelve month high of $83.00.

Edwards Lifesciences (NYSE:EW - Get Free Report) last issued 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. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.49 billion. Edwards Lifesciences had a return on equity of 15.01% and a net margin of 72.96%.Edwards Lifesciences's revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.70 earnings per share. Edwards Lifesciences has set its Q3 2025 guidance at 0.540-0.60 EPS. FY 2025 guidance at 2.400-2.500 EPS. As a group, research analysts expect that Edwards Lifesciences Corporation will post 2.45 EPS for the current year.

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.