HB Wealth Management LLC Buys 5,577 Shares of Edwards Lifesciences Corporation (NYSE:EW)

Key Points

• HB Wealth Management LLC increased its stake in Edwards Lifesciences by 34.9%, acquiring an additional 5,577 shares, bringing its total holdings to 21,562 shares valued at approximately $1.56 million.
• Several institutional investors have been actively trading Edwards Lifesciences shares, with notable increases from Wealth Enhancement Advisory Services LLC (13.5% increase) and Alyeska Investment Group (new position valued at about $49 million).
• Analysts are generally optimistic with Edwards Lifesciences, as fourteen analysts rate it as a buy, leading to a current consensus rating of "Moderate Buy" and an average price target of $85.71.

HB Wealth Management LLC lifted its position in shares of Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 34.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,562 shares of the medical research company's stock after acquiring an additional 5,577 shares during the period. HB Wealth Management LLC's holdings in Edwards Lifesciences were worth $1,563,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in EW. Wellington Management Group LLP boosted its position in 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 buying an additional 1,678,154 shares in the last quarter. Geode Capital Management LLC grew its position in Edwards Lifesciences by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 13,647,341 shares of the medical research company's stock worth $1,007,520,000 after acquiring an additional 126,194 shares during the last quarter. Jennison Associates LLC increased its holdings in Edwards Lifesciences by 34.3% in the 1st quarter. Jennison Associates LLC now owns 10,086,033 shares of the medical research company's stock worth $731,036,000 after purchasing an additional 2,576,383 shares in the last quarter. Brown Advisory Inc. raised its position in Edwards Lifesciences by 7.6% in the fourth quarter. Brown Advisory Inc. now owns 8,155,355 shares of the medical research company's stock valued at $603,741,000 after purchasing an additional 575,699 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in shares of Edwards Lifesciences by 10.4% during the fourth quarter. Deutsche Bank AG now owns 6,903,202 shares of the medical research company's stock valued at $511,044,000 after purchasing an additional 652,923 shares in the last quarter. Institutional investors and hedge funds own 79.46% of the company's stock.

Edwards Lifesciences Stock Down 0.1%

Shares of NYSE EW traded down $0.11 during trading on Friday, hitting $79.20. 1,346,774 shares of the company traded hands, compared to its average volume of 4,577,055. The firm has a market capitalization of $46.46 billion, a price-to-earnings ratio of 11.40, a P/E/G ratio of 3.93 and a beta of 1.11. The business's fifty day moving average is $76.82 and its 200 day moving average is $73.74. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.66 and a current ratio of 4.45. Edwards Lifesciences Corporation has a fifty-two week low of $59.41 and a fifty-two week 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 15.25% and a net margin of 72.96%. The firm's revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.70 EPS. Equities research analysts predict that Edwards Lifesciences Corporation will post 2.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

EW has been the subject of several recent research reports. Mizuho upped their price objective on Edwards Lifesciences from $87.00 to $95.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Dbs Bank upgraded shares of Edwards Lifesciences to a "hold" rating in a research report on Monday, June 2nd. Robert W. Baird lifted their price target on shares of Edwards Lifesciences from $78.00 to $79.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Barclays boosted their price objective on shares of Edwards Lifesciences from $90.00 to $95.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Edwards Lifesciences in a research report on Friday, July 25th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $85.71.

Insider Activity

In related news, VP Daveen Chopra sold 1,500 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $75.08, for a total value of $112,620.00. Following the transaction, the vice president directly owned 33,496 shares in the company, valued at $2,514,879.68. This trade represents a 4.29% decrease in their position. 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 Edwards Lifesciences stock in a transaction on Friday, May 9th. The shares were sold at an average price of $74.40, for a total transaction of $837,000.00. Following the completion of the sale, the chief financial officer directly owned 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. Over the last 90 days, insiders have sold 34,962 shares of company stock valued at $2,641,387. Corporate insiders own 1.29% of the company's stock.

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.