Sector Gamma AS Has $8.92 Million Position in Edwards Lifesciences Corporation $EW

Key Points

• Sector Gamma AS increased its stake in Edwards Lifesciences by 24.2%, acquiring an additional 24,000 shares to hold a total of 123,000 shares, reflecting a value of approximately $8.9 million.
• Insider trading activity included VP Daveen Chopra selling 1,500 shares and VP Donald E. Bobo, Jr. selling 2,570 shares, indicating a reduction in their ownership stakes.
• Analyst ratings on Edwards Lifesciences varied, with upgrades from several firms, leading to a consensus target price of $85.90 and an average rating of "Moderate Buy."

Sector Gamma AS raised its position in shares of Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 24.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 123,000 shares of the medical research company's stock after purchasing an additional 24,000 shares during the quarter. Edwards Lifesciences accounts for about 2.9% of Sector Gamma AS's investment portfolio, making the stock its 15th biggest holding. Sector Gamma AS's holdings in Edwards Lifesciences were worth $8,915,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vega Investment Solutions bought a new position in shares of Edwards Lifesciences during the 4th quarter worth approximately $27,000. SouthState Corp acquired a new position in shares of Edwards Lifesciences during the first quarter valued at about $27,000. Global X Japan Co. Ltd. raised its position in shares of Edwards Lifesciences by 116.1% in the 1st quarter. Global X Japan Co. Ltd. now owns 402 shares of the medical research company's stock valued at $29,000 after purchasing an additional 216 shares during the last quarter. Tradewinds Capital Management LLC grew its position in Edwards Lifesciences by 102.5% during the 1st quarter. Tradewinds Capital Management LLC now owns 405 shares of the medical research company's stock worth $29,000 after purchasing an additional 205 shares during the last quarter. Finally, Rossby Financial LCC acquired a new position in Edwards Lifesciences during the 1st quarter valued at approximately $29,000. 79.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Evercore ISI boosted their target price on shares of Edwards Lifesciences from $77.00 to $80.00 and gave the company an "in-line" rating in a research report on Friday, July 25th. The Goldman Sachs Group restated a "buy" rating on shares of Edwards Lifesciences in a research report on Friday, July 25th. Citigroup reaffirmed a "buy" rating and set a $95.00 target price (up previously from $84.00) on shares of Edwards Lifesciences in a research note on Thursday, May 22nd. Piper Sandler increased their target price on shares of Edwards Lifesciences from $83.00 to $90.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Finally, Mizuho boosted their price target on shares of Edwards Lifesciences from $87.00 to $95.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Edwards Lifesciences presently has a consensus rating of "Moderate Buy" and a consensus target price of $85.90.

Edwards Lifesciences Trading Up 0.0%

NYSE EW traded up $0.04 during mid-day trading on Monday, reaching $78.30. 4,287,704 shares of the stock were exchanged, compared to its average volume of 4,767,529. The stock has a market capitalization of $45.97 billion, a PE ratio of 11.27, a PEG ratio of 3.78 and a beta of 1.08. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.87 and a current ratio of 4.68. Edwards Lifesciences Corporation has a 1-year low of $64.00 and a 1-year high of $83.00. The business's fifty day simple moving average is $77.13 and its 200 day simple moving average is $74.42.

Edwards Lifesciences (NYSE:EW - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The medical research company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.62 by $0.05. Edwards Lifesciences had a net margin of 72.96% and a return on equity of 15.01%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter last year, the firm posted $0.70 earnings per share. Edwards Lifesciences's revenue for the quarter was up 11.9% compared to the same quarter last year. On average, research analysts anticipate that Edwards Lifesciences Corporation will post 2.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Edwards Lifesciences

In related news, insider Larry L. Wood sold 8,950 shares of Edwards Lifesciences stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $78.06, for a total transaction of $698,637.00. Following the transaction, the insider directly owned 206,900 shares of the company's stock, valued at $16,150,614. The trade was a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Daniel J. Lippis sold 4,114 shares of the company's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $79.46, for a total value of $326,898.44. Following the completion of the transaction, the vice president directly owned 22,002 shares in the company, valued at $1,748,278.92. This represents a 15.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,084 shares of company stock worth $2,010,382 in the last ninety days. 0.34% of the stock is currently owned by company insiders.

Edwards Lifesciences Profile

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.