Invera Wealth Advisors LLC Has $2.97 Million Position in Edwards Lifesciences Co. (NYSE:EW)

Invera Wealth Advisors LLC increased its holdings in shares of Edwards Lifesciences Co. (NYSE:EW - Free Report) by 70.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 31,078 shares of the medical research company's stock after purchasing an additional 12,809 shares during the period. Edwards Lifesciences makes up approximately 2.5% of Invera Wealth Advisors LLC's holdings, making the stock its 17th largest position. Invera Wealth Advisors LLC's holdings in Edwards Lifesciences were worth $2,970,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in EW. PFG Investments LLC bought a new stake in Edwards Lifesciences in the 1st quarter valued at $287,000. Raymond James & Associates raised its position in shares of Edwards Lifesciences by 8.5% during the first quarter. Raymond James & Associates now owns 1,775,106 shares of the medical research company's stock valued at $169,629,000 after buying an additional 139,515 shares during the last quarter. Accordant Advisory Group Inc bought a new stake in shares of Edwards Lifesciences in the first quarter valued at about $174,000. New Century Financial Group LLC acquired a new stake in Edwards Lifesciences during the first quarter worth about $255,000. Finally, Legacy Wealth Asset Management LLC grew its position in Edwards Lifesciences by 2.7% during the first quarter. Legacy Wealth Asset Management LLC now owns 17,410 shares of the medical research company's stock worth $1,664,000 after buying an additional 452 shares in the last quarter. Institutional investors own 79.46% of the company's stock.

Edwards Lifesciences Price Performance

Shares of NYSE:EW traded down $0.48 during trading on Monday, reaching $85.95. The stock had a trading volume of 2,931,204 shares, compared to its average volume of 3,839,852. The stock has a market capitalization of $51.74 billion, a PE ratio of 37.05, a P/E/G ratio of 4.28 and a beta of 1.05. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.75 and a quick ratio of 2.67. Edwards Lifesciences Co. has a 52 week low of $60.57 and a 52 week high of $96.12. The business's 50-day moving average price is $90.27 and its 200 day moving average price is $79.06.

Edwards Lifesciences (NYSE:EW - Get Free Report) last issued its quarterly earnings data on Thursday, April 25th. The medical research company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.02. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.58 billion. Edwards Lifesciences had a return on equity of 22.86% and a net margin of 23.01%. As a group, equities analysts predict that Edwards Lifesciences Co. will post 2.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Oppenheimer raised their price objective on Edwards Lifesciences from $93.00 to $100.00 and gave the stock an "outperform" rating in a research report on Monday, March 18th. Bank of America raised Edwards Lifesciences from a "neutral" rating to a "buy" rating in a research report on Thursday, March 7th. Morgan Stanley lifted their price target on shares of Edwards Lifesciences from $95.00 to $103.00 and gave the stock an "overweight" rating in a research note on Thursday, March 21st. Royal Bank of Canada increased their price objective on shares of Edwards Lifesciences from $95.00 to $101.00 and gave the company an "outperform" rating in a research note on Monday, April 15th. Finally, Evercore ISI decreased their target price on shares of Edwards Lifesciences from $92.00 to $89.00 and set an "in-line" rating on the stock in a research report on Friday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $92.71.

Insider Buying and Selling

In other news, CFO Scott B. Ullem sold 7,255 shares of the company's stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $78.29, for a total transaction of $567,993.95. Following the transaction, the chief financial officer now directly owns 19,248 shares in the company, valued at $1,506,925.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Edwards Lifesciences news, Director Heisz Leslie Stone sold 7,056 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $86.45, for a total value of $609,991.20. Following the transaction, the director now directly owns 26,980 shares in the company, valued at approximately $2,332,421. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Scott B. Ullem sold 7,255 shares of the business's stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $78.29, for a total value of $567,993.95. Following the sale, the chief financial officer now owns 19,248 shares of the company's stock, valued at approximately $1,506,925.92. The disclosure for this sale can be found here. Insiders have sold a total of 194,004 shares of company stock worth $17,166,254 in the last 90 days. Corporate insiders own 1.27% of the company's stock.

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.

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