Freestone Grove Partners LP Takes $56.35 Million Position in Edwards Lifesciences Co. (NYSE:EW)

Freestone Grove Partners LP bought a new position in Edwards Lifesciences Co. (NYSE:EW - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 761,214 shares of the medical research company's stock, valued at approximately $56,353,000. Freestone Grove Partners LP owned about 0.13% of Edwards Lifesciences at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of EW. Crowley Wealth Management Inc. bought a new stake in shares of Edwards Lifesciences during the 4th quarter valued at about $26,000. Millstone Evans Group LLC bought a new stake in Edwards Lifesciences during the 4th quarter valued at approximately $29,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Edwards Lifesciences during the 4th quarter valued at approximately $30,000. Roble Belko & Company Inc purchased a new position in shares of Edwards Lifesciences during the 4th quarter worth approximately $46,000. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Edwards Lifesciences in the 4th quarter worth approximately $54,000. Hedge funds and other institutional investors own 79.46% of the company's stock.

Insider Buying and Selling at Edwards Lifesciences

In other Edwards Lifesciences news, CEO Bernard J. Zovighian sold 6,164 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $69.51, for a total value of $428,459.64. Following the sale, the chief executive officer now owns 59,083 shares in the company, valued at $4,106,859.33. This trade represents a 9.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Donald E. Bobo, Jr. sold 9,500 shares of the business's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $69.81, for a total transaction of $663,195.00. Following the sale, the vice president now directly owns 47,206 shares of the company's stock, valued at $3,295,450.86. This represents a 16.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,853 shares of company stock worth $5,163,062 in the last quarter. 1.29% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on EW. Canaccord Genuity Group upped their price target on Edwards Lifesciences from $71.00 to $75.00 and gave the stock a "hold" rating in a research note on Friday, April 25th. Robert W. Baird increased their price target on shares of Edwards Lifesciences from $72.00 to $75.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. Barclays lifted their price target on shares of Edwards Lifesciences from $88.00 to $90.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Stifel Nicolaus upgraded shares of Edwards Lifesciences from a "hold" rating to a "buy" rating and upped their price objective for the stock from $75.00 to $90.00 in a report on Thursday, January 30th. Finally, Piper Sandler upgraded shares of Edwards Lifesciences from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $73.00 to $80.00 in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $79.45.

Edwards Lifesciences Stock Performance

Shares of NYSE:EW traded down $0.17 during midday trading on Tuesday, hitting $74.95. The company had a trading volume of 634,893 shares, compared to its average volume of 5,001,938. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $95.25. The company has a fifty day moving average of $71.23 and a two-hundred day moving average of $71.39. The company has a market cap of $44.06 billion, a price-to-earnings ratio of 10.76, a PEG ratio of 4.82 and a beta of 1.12. 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 posted its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.60 by $0.04. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. The firm had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.40 billion. During the same period in the previous year, the firm earned $0.66 EPS. The business's quarterly revenue was up 6.2% on a year-over-year basis. On average, equities research analysts expect that Edwards Lifesciences Co. will post 2.45 EPS for the current fiscal year.

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.