Inscription Capital LLC Buys Shares of 24,000 Edwards Lifesciences Co. (NYSE:EW)

Inscription Capital LLC acquired a new position in shares of Edwards Lifesciences Co. (NYSE:EW - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 24,000 shares of the medical research company's stock, valued at approximately $1,740,000.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Edwards Lifesciences by 10.4% during the 4th quarter. Vanguard Group Inc. now owns 69,132,036 shares of the medical research company's stock worth $5,117,845,000 after purchasing an additional 6,537,494 shares during the period. Wellington Management Group LLP lifted its stake in shares of Edwards Lifesciences by 5.3% during the fourth quarter. Wellington Management Group LLP now owns 33,210,879 shares of the medical research company's stock worth $2,458,601,000 after purchasing an additional 1,678,154 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Edwards Lifesciences by 0.9% in 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 period. Fisher Asset Management LLC grew its stake in shares of Edwards Lifesciences by 7.7% in the fourth quarter. Fisher Asset Management LLC now owns 9,775,276 shares of the medical research company's stock valued at $723,664,000 after buying an additional 696,965 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Edwards Lifesciences during the 4th quarter valued at about $610,895,000. Institutional investors and hedge funds own 79.46% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on EW. Robert W. Baird increased their price objective on shares of Edwards Lifesciences from $72.00 to $75.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. Dbs Bank raised shares of Edwards Lifesciences to a "hold" rating in a report on Monday, June 2nd. Piper Sandler lifted their price target on shares of Edwards Lifesciences from $80.00 to $83.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 13th. Truist Financial decreased their price objective on shares of Edwards Lifesciences from $78.00 to $75.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Finally, Citigroup restated a "buy" rating and set a $95.00 target price (up from $84.00) on shares of Edwards Lifesciences in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, Edwards Lifesciences has an average rating of "Hold" and a consensus price target of $80.20.

Edwards Lifesciences Stock Performance

Edwards Lifesciences stock traded down $1.51 during mid-day trading on Tuesday, reaching $73.31. The company's stock had a trading volume of 3,002,914 shares, compared to its average volume of 5,223,320. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. Edwards Lifesciences Co. has a twelve month low of $58.93 and a twelve month high of $95.25. The business has a 50 day moving average price of $74.70 and a 200-day moving average price of $72.96. The firm has a market cap of $43.00 billion, a price-to-earnings ratio of 10.52, 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 the consensus estimate of $0.60 by $0.04. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period in the previous year, the business posted $0.66 EPS. The company's quarterly revenue was up 6.2% on a year-over-year basis. Sell-side analysts predict that Edwards Lifesciences Co. will post 2.45 EPS for the current fiscal year.

Insider Activity

In other news, CFO Scott B. Ullem sold 11,250 shares of Edwards Lifesciences stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $70.87, for a total value of $797,287.50. Following the transaction, the chief financial officer now owns 30,387 shares of the company's stock, valued at $2,153,526.69. The trade was a 27.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Donald E. Bobo, Jr. sold 2,570 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $77.40, for a total transaction of $198,918.00. Following the sale, the vice president now owns 50,356 shares of the company's stock, valued at $3,897,554.40. The trade was a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,898 shares of company stock valued at $3,796,154. 1.29% of the stock is currently 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.