Wedgewood Partners Inc. Has $25.13 Million Stock Holdings in Edwards Lifesciences Co. (NYSE:EW)

Wedgewood Partners Inc. trimmed its position in shares of Edwards Lifesciences Co. (NYSE:EW - Free Report) by 5.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 339,436 shares of the medical research company's stock after selling 19,821 shares during the period. Edwards Lifesciences makes up 4.9% of Wedgewood Partners Inc.'s portfolio, making the stock its 13th biggest holding. Wedgewood Partners Inc. owned approximately 0.06% of Edwards Lifesciences worth $25,128,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Sivik Global Healthcare LLC bought a new stake in shares of Edwards Lifesciences in the fourth quarter valued at about $3,702,000. Farmers & Merchants Investments Inc. lifted its stake in shares of Edwards Lifesciences by 21.1% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 134,341 shares of the medical research company's stock valued at $9,945,000 after buying an additional 23,409 shares during the period. Lockheed Martin Investment Management Co. bought a new stake in shares of Edwards Lifesciences in the fourth quarter valued at about $4,499,000. Union Bancaire Privee UBP SA bought a new stake in shares of Edwards Lifesciences in the fourth quarter valued at about $1,120,000. Finally, Diversify Wealth Management LLC lifted its stake in shares of Edwards Lifesciences by 99.9% in the fourth quarter. Diversify Wealth Management LLC now owns 37,441 shares of the medical research company's stock valued at $2,749,000 after buying an additional 18,715 shares during the period. 79.46% of the stock is currently owned by institutional investors.

Edwards Lifesciences Trading Up 0.3%

Shares of NYSE EW traded up $0.19 during midday trading on Friday, reaching $74.98. 3,738,140 shares of the stock were exchanged, compared to its average volume of 5,138,901. The business has a 50-day simple moving average of $72.78 and a two-hundred day simple moving average of $72.04. The company has a market capitalization of $43.98 billion, a price-to-earnings ratio of 10.76, a P/E/G ratio of 4.82 and a beta of 1.12. Edwards Lifesciences Co. has a 12 month low of $58.93 and a 12 month high of $95.25. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89.

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

Insider Transactions at Edwards Lifesciences

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 9,500 shares of the business's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $67.96, for a total transaction of $645,620.00. Following the sale, the vice president now directly owns 46,936 shares of the company's stock, valued at $3,189,770.56. The trade was a 16.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Scott B. Ullem sold 11,250 shares of the business's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $70.78, for a total transaction of $796,275.00. Following the sale, the chief financial officer now directly owns 30,387 shares in the company, valued at $2,150,791.86. This trade represents a 27.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 67,692 shares of company stock valued at $4,822,074 over the last three months. 1.29% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on EW shares. Citigroup reiterated 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. Wall Street Zen lowered shares of Edwards Lifesciences from a "buy" rating to a "hold" rating in a research report on Friday, May 16th. Evercore ISI dropped their price target on shares of Edwards Lifesciences from $75.00 to $73.00 and set an "in-line" rating for the company in a research report on Wednesday, February 12th. Morgan Stanley increased their price target on shares of Edwards Lifesciences from $70.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 12th. Finally, Piper Sandler lifted their target price on shares of Edwards Lifesciences from $80.00 to $83.00 and gave the company an "overweight" rating in a research note on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Edwards Lifesciences has an average rating of "Hold" and a consensus price target 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.