North Star Asset Management Inc. Purchases 12,293 Shares of Edwards Lifesciences Corporation (NYSE:EW)

Key Points

• North Star Asset Management Inc. increased its stake in Edwards Lifesciences Corporation by 34.9%, owning 47,564 shares valued at approximately $3.45 million.
• Insider selling activity was noted, with CFO Scott B. Ullem selling 11,250 shares for $837,000, resulting in a 21.49% decrease in his ownership.
• Analysts have boosted target prices for Edwards Lifesciences, with Mizuho raising its target from $87.00 to $95.00, indicating continued confidence in the stock's performance.

North Star Asset Management Inc. boosted its holdings in Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 34.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 47,564 shares of the medical research company's stock after purchasing an additional 12,293 shares during the period. North Star Asset Management Inc.'s holdings in Edwards Lifesciences were worth $3,447,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC raised its stake in Edwards Lifesciences by 0.5% during the first 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 in the last quarter. Alyeska Investment Group L.P. acquired a new stake in Edwards Lifesciences during the fourth quarter valued at approximately $49,038,000. Dynamic Advisor Solutions LLC raised its stake in Edwards Lifesciences by 2.4% during the first quarter. Dynamic Advisor Solutions LLC now owns 15,506 shares of the medical research company's stock valued at $1,124,000 after buying an additional 370 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Edwards Lifesciences by 13.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 77,016 shares of the medical research company's stock valued at $5,582,000 after buying an additional 9,188 shares in the last quarter. Finally, Advanced Portfolio Management LLC acquired a new stake in Edwards Lifesciences during the fourth quarter valued at approximately $328,000. Hedge funds and other institutional investors own 79.46% of the company's stock.

Edwards Lifesciences Stock Down 0.0%

Shares of EW traded down $0.01 during mid-day trading on Friday, reaching $79.30. The company's stock had a trading volume of 3,152,852 shares, compared to its average volume of 4,898,219. The business has a fifty day moving average of $76.82 and a 200 day moving average of $73.74. The company has a market cap of $46.52 billion, a price-to-earnings ratio of 11.41, a price-to-earnings-growth ratio of 3.84 and a beta of 1.08. Edwards Lifesciences Corporation has a 1 year low of $59.41 and a 1 year high of $83.00. The company has a quick ratio of 3.66, a current ratio of 4.45 and a debt-to-equity ratio of 0.06.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on EW shares. William Blair upgraded Edwards Lifesciences to a "strong-buy" rating in a research report on Friday, July 25th. Piper Sandler increased their price target on Edwards Lifesciences from $83.00 to $90.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. JPMorgan Chase & Co. increased their price target on Edwards Lifesciences from $80.00 to $85.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Canaccord Genuity Group increased their price target on Edwards Lifesciences from $75.00 to $81.00 and gave the stock a "hold" rating in a research report on Friday, July 25th. Finally, Evercore ISI increased their price target on Edwards Lifesciences from $77.00 to $80.00 and gave the stock an "in-line" rating in a research report on Friday, July 25th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $85.71.

Insider Activity

In other Edwards Lifesciences news, insider Larry L. Wood sold 8,950 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $75.23, for a total transaction of $673,308.50. Following the transaction, the insider directly owned 206,900 shares in the company, valued at $15,565,087. This trade represents a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Daniel J. Lippis sold 4,114 shares of the firm's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $79.46, for a total value of $326,898.44. Following the transaction, the vice president owned 22,002 shares in the company, valued at approximately $1,748,278.92. This trade represents a 15.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,962 shares of company stock valued at $2,641,387. 1.29% of the stock is currently 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.