Inscription Capital LLC Sells 24,748 Shares of Edwards Lifesciences Corporation $EW

Key Points

• Inscription Capital cut its Edwards Lifesciences stake by 81.9% in the third quarter, selling 24,748 shares and retaining 5,466 shares valued at about $472,000.
• Edwards reported quarterly earnings of $0.80 per share and revenue of $1.72 billion, beating analyst estimates; revenue increased 10.5% year over year.
• Analysts raised price targets, with the consensus target at $108.88 and an overall “Moderate Buy” rating. Company insiders sold 5,045 shares worth about $451,600 over the last quarter.

Inscription Capital LLC lowered its holdings in Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 81.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,466 shares of the medical research company's stock after selling 24,748 shares during the period. Inscription Capital LLC's holdings in Edwards Lifesciences were worth $472,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in EW. Flagship Harbor Advisors LLC boosted its holdings in Edwards Lifesciences by 1.2% during the third quarter. Flagship Harbor Advisors LLC now owns 10,615 shares of the medical research company's stock worth $916,000 after buying an additional 125 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its holdings in shares of Edwards Lifesciences by 1.8% in the third quarter. Fifth Third Wealth Advisors LLC now owns 7,268 shares of the medical research company's stock valued at $627,000 after buying an additional 132 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Edwards Lifesciences by 1.4% in the third quarter. Signaturefd LLC now owns 10,034 shares of the medical research company's stock valued at $866,000 after buying an additional 142 shares in the last quarter. NorthRock Partners LLC lifted its position in shares of Edwards Lifesciences by 1.0% during the 2nd quarter. NorthRock Partners LLC now owns 16,191 shares of the medical research company's stock valued at $1,465,000 after acquiring an additional 153 shares during the last quarter. Finally, Soltis Investment Advisors LLC lifted its position in shares of Edwards Lifesciences by 2.4% during the 3rd quarter. Soltis Investment Advisors LLC now owns 6,479 shares of the medical research company's stock valued at $559,000 after acquiring an additional 153 shares during the last quarter. 79.46% of the stock is currently owned by institutional investors.

Insider Transactions at Edwards Lifesciences

In related news, VP Annette Brüls sold 2,644 shares of the company's stock in a transaction on Friday, August 28th. The stock was sold at an average price of $89.98, for a total transaction of $237,907.12. Following the transaction, the vice president directly owned 17,984 shares of the company's stock, valued at approximately $1,618,200.32. The trade was a 12.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Andrew M. Dahl sold 544 shares of the business's stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $91.06, for a total transaction of $49,536.64. Following the transaction, the senior vice president directly owned 14,868 shares in the company, valued at $1,353,880.08. The trade was a 3.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 5,045 shares of company stock valued at $451,596 over the last quarter. Company insiders own 0.31% of the company's stock.

Edwards Lifesciences Trading Up 1.1%

Edwards Lifesciences stock opened at $101.91 on Friday. The company has a 50 day moving average price of $88.92 and a 200 day moving average price of $85.78. Edwards Lifesciences Corporation has a 52 week low of $74.66 and a 52 week high of $104.17. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.77 and a current ratio of 4.60. The firm has a market capitalization of $58.68 billion, a price-to-earnings ratio of 57.58, a P/E/G ratio of 2.67 and a beta of 0.85.

Edwards Lifesciences (NYSE:EW - Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The medical research company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.06. Edwards Lifesciences had a net margin of 15.30% and a return on equity of 16.06%. The firm had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same period in the previous year, the company posted $0.67 EPS. The company's quarterly revenue was up 10.5% compared to the same quarter last year. Research analysts forecast that Edwards Lifesciences Corporation will post 3.02 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on EW shares. JPMorgan Chase & Co. raised their price objective on Edwards Lifesciences from $105.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday. Leerink Partners boosted their target price on Edwards Lifesciences from $101.00 to $112.00 and gave the stock an "outperform" rating in a research report on Thursday. Wells Fargo & Company reaffirmed an "overweight" rating and set a $113.00 target price (up from $100.00) on shares of Edwards Lifesciences in a report on Thursday. TD Cowen reiterated a "buy" rating on shares of Edwards Lifesciences in a research report on Tuesday, October 27th. Finally, Argus increased their price target on Edwards Lifesciences from $105.00 to $115.00 and gave the company a "buy" rating in a research report on Friday, August 21st. Twenty-three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $108.88.

More Edwards Lifesciences News

Here are the key news stories impacting Edwards Lifesciences this week:

• Positive Sentiment: Edwards reported Q3 sales growth of 11.2% to $1.72 billion, with adjusted earnings and revenue beating estimates. TMTT sales rose 45.6% and TAVR sales grew 8.8%; the company raised its sales outlook and set adjusted full-year EPS guidance of $2.97–$3.05. Edwards Q3 earnings call highlights
• Positive Sentiment: PROGRESS Trial results found TAVR outperformed active surveillance for at-risk patients with moderate aortic stenosis, including fewer combined death or heart-failure outcomes. The findings could support earlier use of the procedure and expand Edwards’ potential market. Trial data points to earlier TAVR use
• Positive Sentiment: Analysts lifted price targets following the results: UBS raised its target to $118 and JPMorgan to $120, while Piper Sandler reaffirmed its buy-equivalent rating with a $115 target. The latest target increases and reaffirmations add to bullish sentiment. UBS reaffirms buy rating Piper Sandler keeps buy rating
• Negative Sentiment: Management has acknowledged that more competition is coming in TAVR, a potential pressure on market share and future growth, although the recent results and trial data provide positive offsets. CEO comments on TAVR competition

Edwards Lifesciences Company Profile

Edwards Lifesciences is a medical technology company focused on therapies for structural heart disease and critical care. Its products include transcatheter and surgical heart valves, as well as technologies used to monitor patients during intensive care and surgery.

The company traces its origins to 1958, when engineer Lowell Edwards and surgeon Albert Starr began developing an artificial heart valve. Their work led to the Starr-Edwards valve, introduced in 1960. Edwards Lifesciences is headquartered in Irvine, California, and serves clinicians and patients around the world.

Its structural heart portfolio includes transcatheter aortic valve replacement (TAVR) systems and therapies addressing mitral and tricuspid valve disease.

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