Paloma Partners Management Co Takes $346,000 Position in Edwards Lifesciences Corporation $EW

Key Points

• Paloma Partners Management Co acquired a new stake in Edwards Lifesciences Corporation by purchasing 4,776 shares valued at approximately $346,000 during the first quarter of 2023.
• Insider selling activity was noted, with Larry L. Wood selling 8,950 shares for over $673,000 and VP Daniel J. Lippis selling 4,114 shares valued at approximately $327,000, resulting in a decrease in their respective ownership stakes.
• Analysts have issued varied ratings on Edwards Lifesciences, with Canaccord Genuity raising the target price from $75 to $81 and multiple firms assigning it a "strong-buy" rating, leading to a consensus rating of "Moderate Buy" with a target price of $85.90.

Paloma Partners Management Co bought a new stake in shares of Edwards Lifesciences Corporation (NYSE:EW - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,776 shares of the medical research company's stock, valued at approximately $346,000.

A number of other hedge funds have also recently modified their holdings of the business. Jennison Associates LLC grew its stake in shares of Edwards Lifesciences by 34.3% during the first quarter. Jennison Associates LLC now owns 10,086,033 shares of the medical research company's stock valued at $731,036,000 after buying an additional 2,576,383 shares during the last quarter. Brown Advisory Inc. grew its stake in shares of Edwards Lifesciences by 7.6% during 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 buying an additional 575,699 shares during the last quarter. Deutsche Bank AG grew 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 buying an additional 652,923 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Edwards Lifesciences by 8.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,519,257 shares of the medical research company's stock valued at $482,621,000 after buying an additional 513,468 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in shares of Edwards Lifesciences by 24.9% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 4,615,163 shares of the medical research company's stock valued at $341,661,000 after buying an additional 921,500 shares during the last quarter. Institutional investors own 79.46% of the company's stock.

Insiders Place Their Bets

In other Edwards Lifesciences news, VP Daniel J. Lippis sold 4,114 shares of the company's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $79.46, for a total transaction of $326,898.44. Following the completion of the sale, the vice president owned 22,002 shares in the company, valued at $1,748,278.92. This represents a 15.75% 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, insider Larry L. Wood sold 8,950 shares of the company's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $78.06, for a total value of $698,637.00. Following the sale, the insider owned 206,900 shares of the company's stock, valued at approximately $16,150,614. This represents a 4.15% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,014 shares of company stock valued at $1,698,844. 1.29% of the stock is owned by company insiders.

Edwards Lifesciences Stock Down 0.1%

Edwards Lifesciences stock traded down $0.07 during mid-day trading on Friday, reaching $80.89. 2,283,330 shares of the company were exchanged, compared to its average volume of 3,558,037. The business has a fifty day moving average of $78.77 and a 200 day moving average of $75.21. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.87 and a current ratio of 4.68. The firm has a market cap of $47.49 billion, a P/E ratio of 11.64, a PEG ratio of 3.91 and a beta of 1.07. Edwards Lifesciences Corporation has a 12-month low of $64.00 and a 12-month high of $83.00.

Edwards Lifesciences (NYSE:EW - Get Free Report) last posted its earnings results on Thursday, July 24th. The medical research company reported $0.67 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.05. The company 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 15.01% and a net margin of 72.96%.Edwards Lifesciences's revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.70 earnings per share. Edwards Lifesciences has set its Q3 2025 guidance at 0.540-0.60 EPS. FY 2025 guidance at 2.400-2.500 EPS. Research analysts anticipate that Edwards Lifesciences Corporation will post 2.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on EW shares. Wall Street Zen raised Edwards Lifesciences from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 30th. Barclays upped their target price on Edwards Lifesciences from $90.00 to $95.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. William Blair upgraded Edwards Lifesciences to a "strong-buy" rating in a report on Friday, July 25th. Royal Bank Of Canada boosted their price target on Edwards Lifesciences from $85.00 to $89.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Finally, Truist Financial boosted their price target on Edwards Lifesciences from $81.00 to $82.00 and gave the company a "hold" rating in a report on Friday, July 25th. Three research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $85.90.

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.