Meridiem Capital Partners LP Invests $3.17 Million in Edwards Lifesciences Co. (NYSE:EW)

Meridiem Capital Partners LP purchased a new stake in Edwards Lifesciences Co. (NYSE:EW - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 42,843 shares of the medical research company's stock, valued at approximately $3,172,000.

Other hedge funds have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. raised its holdings in Edwards Lifesciences by 2.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 11,135 shares of the medical research company's stock valued at $824,000 after buying an additional 273 shares during the period. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST raised its stake in shares of Edwards Lifesciences by 6.7% during the fourth quarter. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST now owns 4,800,000 shares of the medical research company's stock valued at $355,344,000 after purchasing an additional 300,000 shares during the period. Sivik Global Healthcare LLC purchased a new stake in shares of Edwards Lifesciences during the fourth quarter valued at approximately $3,702,000. Avanza Fonder AB purchased a new stake in shares of Edwards Lifesciences during the fourth quarter valued at approximately $4,845,000. Finally, Farmers & Merchants Investments Inc. raised its stake in shares of Edwards Lifesciences by 21.1% during 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 purchasing an additional 23,409 shares during the period. Hedge funds and other institutional investors own 79.46% of the company's stock.

Edwards Lifesciences Stock Performance

EW stock opened at $74.65 on Tuesday. The company has a market capitalization of $43.79 billion, a P/E ratio of 10.71, a PEG ratio of 4.82 and a beta of 1.12. The company has a 50-day simple moving average of $71.52 and a 200 day simple moving average of $71.55. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $95.25. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06.

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, topping the consensus estimate of $0.60 by $0.04. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the company posted $0.66 earnings per share. The company's quarterly revenue was up 6.2% compared to the same quarter last year. Sell-side analysts predict that Edwards Lifesciences Co. will post 2.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

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 stock was sold at an average price of $67.96, for a total transaction of $645,620.00. Following the sale, the vice president now owns 46,936 shares in the company, valued at approximately $3,189,770.56. The trade was a 16.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Bernard J. Zovighian sold 6,164 shares of the business's stock in a transaction dated 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 approximately $4,106,859.33. The trade was a 9.45% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,681 shares of company stock worth $6,492,703. 1.29% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

EW has been the topic of a number of analyst reports. Morgan Stanley lifted their price objective on shares of Edwards Lifesciences from $70.00 to $75.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 12th. Stifel Nicolaus upgraded shares of Edwards Lifesciences from a "hold" rating to a "buy" rating and lifted their price objective for the company from $75.00 to $90.00 in a research note on Thursday, January 30th. Wolfe Research lowered shares of Edwards Lifesciences from a "hold" rating to a "strong sell" rating in a research note on Wednesday, February 12th. Robert W. Baird lifted 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. Finally, Piper Sandler upgraded shares of Edwards Lifesciences from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $73.00 to $80.00 in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Edwards Lifesciences currently has an average rating of "Hold" and a consensus price target of $79.45.

Edwards Lifesciences Company 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.

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