Jefferies Financial Group Inc. Has $3.04 Million Stake in Edwards Lifesciences Corporation (NYSE:EW)

Key Points

• Jefferies Financial Group Inc. reduced its holdings in Edwards Lifesciences Corporation by 69%, owning 41,969 shares worth approximately $3.04 million as of the latest disclosure.
• Brokerages have recently provided positive ratings for Edwards Lifesciences, with firms like BTIG Research upgrading to a "buy" rating and setting a price target of $100.00.
• The company's quarterly earnings report showed a net margin of 72.96% with revenues reaching $1.53 billion, indicating an 11.9% increase compared to the same quarter last year.

Jefferies Financial Group Inc. decreased its holdings in Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 69.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 41,969 shares of the medical research company's stock after selling 93,369 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Edwards Lifesciences were worth $3,042,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its stake in shares of Edwards Lifesciences by 0.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 30,195 shares of the medical research company's stock valued at $2,170,000 after buying an additional 145 shares during the period. Alyeska Investment Group L.P. bought a new position in Edwards Lifesciences in the 4th quarter worth $49,038,000. Dynamic Advisor Solutions LLC raised its holdings in Edwards Lifesciences by 2.4% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 15,506 shares of the medical research company's stock worth $1,124,000 after acquiring an additional 370 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Edwards Lifesciences by 13.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 77,016 shares of the medical research company's stock worth $5,582,000 after acquiring an additional 9,188 shares during the period. Finally, Advanced Portfolio Management LLC bought a new position in Edwards Lifesciences in the 4th quarter worth $328,000. Institutional investors and hedge funds own 79.46% of the company's stock.

Edwards Lifesciences Trading Down 0.8%

NYSE:EW traded down $0.63 during trading hours on Tuesday, hitting $79.47. The stock had a trading volume of 243,444 shares, compared to its average volume of 4,550,388. The business's 50 day moving average is $77.01 and its 200-day moving average is $73.92. 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 one year low of $60.34 and a one year high of $83.00. The company has a market cap of $46.61 billion, a price-to-earnings ratio of 11.43, a P/E/G ratio of 3.84 and a beta of 1.08.

Edwards Lifesciences (NYSE:EW - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.05. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.49 billion. Edwards Lifesciences had a net margin of 72.96% and a return on equity of 15.25%. The firm's revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.70 earnings per share. Sell-side analysts anticipate that Edwards Lifesciences Corporation will post 2.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on EW shares. Mizuho boosted their price objective on shares of Edwards Lifesciences from $87.00 to $95.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Piper Sandler upped their target price on shares of Edwards Lifesciences from $83.00 to $90.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Citigroup reaffirmed a "buy" rating and set a $95.00 price objective (up from $84.00) on shares of Edwards Lifesciences in a research note on Thursday, May 22nd. Royal Bank Of Canada upped their price objective on shares of Edwards Lifesciences from $85.00 to $89.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Finally, Daiwa America raised shares of Edwards Lifesciences from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 29th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, Edwards Lifesciences currently has a consensus rating of "Moderate Buy" and an average target price of $85.71.

Insider Transactions at Edwards Lifesciences

In other news, insider Larry L. Wood sold 8,950 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $75.23, for a total transaction of $673,308.50. Following the completion of the sale, the insider owned 206,900 shares in the company, valued at approximately $15,565,087. This trade represents a 4.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Scott B. Ullem sold 11,250 shares of the firm's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $74.40, for a total transaction of $837,000.00. Following the sale, the chief financial officer owned 41,098 shares of the company's stock, valued at approximately $3,057,691.20. This represents a 21.49% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,982 shares of company stock valued at $2,193,425. 0.34% of the stock is owned by company 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.