Smithbridge Asset Management Inc. DE Takes Position in Edwards Lifesciences Co. (NYSE:EW)

Smithbridge Asset Management Inc. DE acquired a new stake in shares of Edwards Lifesciences Co. (NYSE:EW - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 14,266 shares of the medical research company's stock, valued at approximately $1,034,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Prosperity Consulting Group LLC boosted its stake in Edwards Lifesciences by 3.6% during the 4th quarter. Prosperity Consulting Group LLC now owns 3,906 shares of the medical research company's stock valued at $289,000 after purchasing an additional 134 shares during the period. Abacus Planning Group Inc. boosted its stake in Edwards Lifesciences by 0.3% during the 4th quarter. Abacus Planning Group Inc. now owns 40,207 shares of the medical research company's stock valued at $2,977,000 after purchasing an additional 140 shares during the period. Versant Capital Management Inc boosted its stake in Edwards Lifesciences by 9.3% during the 1st quarter. Versant Capital Management Inc now owns 1,698 shares of the medical research company's stock valued at $123,000 after purchasing an additional 145 shares during the period. Kera Capital Partners Inc. boosted its stake in Edwards Lifesciences by 5.0% during the 1st quarter. Kera Capital Partners Inc. now owns 3,090 shares of the medical research company's stock valued at $224,000 after purchasing an additional 148 shares during the period. Finally, Moors & Cabot Inc. boosted its stake in Edwards Lifesciences by 0.3% during the 4th quarter. Moors & Cabot Inc. now owns 54,589 shares of the medical research company's stock valued at $4,041,000 after purchasing an additional 152 shares during the period. Institutional investors and hedge funds own 79.46% of the company's stock.

Insider Activity

In other Edwards Lifesciences news, CFO Scott B. Ullem sold 11,250 shares of Edwards Lifesciences stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $70.87, for a total value of $797,287.50. Following the transaction, the chief financial officer now owns 30,387 shares of the company's stock, valued at approximately $2,153,526.69. The trade was a 27.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Bernard J. Zovighian sold 5,980 shares of the business's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $74.91, for a total value of $447,961.80. Following the completion of the sale, the chief executive officer now owns 58,284 shares in the company, valued at approximately $4,366,054.44. This trade represents a 9.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,948 shares of company stock valued at $3,122,845 in the last quarter. Company insiders own 1.29% of the company's stock.

Edwards Lifesciences Trading Down 1.0%

NYSE:EW traded down $0.77 on Friday, hitting $75.12. 2,635,771 shares of the stock were exchanged, compared to its average volume of 5,226,471. The stock has a market capitalization of $44.06 billion, a price-to-earnings ratio of 10.78, a P/E/G ratio of 4.82 and a beta of 1.12. Edwards Lifesciences Co. has a 52 week low of $58.93 and a 52 week high of $95.25. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46. The company's 50-day moving average price is $74.38 and its 200 day moving average price is $72.89.

Edwards Lifesciences (NYSE:EW - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.04. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the company earned $0.66 EPS. The firm's revenue was up 6.2% on a year-over-year basis. On average, equities research analysts forecast that Edwards Lifesciences Co. will post 2.45 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on EW shares. Piper Sandler raised their price objective on Edwards Lifesciences from $80.00 to $83.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 13th. Canaccord Genuity Group increased their price objective on shares of Edwards Lifesciences from $71.00 to $75.00 and gave the company a "hold" rating in a research note on Friday, April 25th. Robert W. Baird lifted their target price on shares of Edwards Lifesciences from $72.00 to $75.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. Citigroup reissued a "buy" rating and issued a $95.00 target price (up previously from $84.00) on shares of Edwards Lifesciences in a research note on Thursday, May 22nd. Finally, Truist Financial cut their price target on shares of Edwards Lifesciences from $78.00 to $75.00 and set a "hold" rating for the company in a research note on Friday, April 11th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $80.20.

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.