Parkman Healthcare Partners LLC Purchases New Holdings in Edwards Lifesciences Co. (NYSE:EW)

Parkman Healthcare Partners LLC acquired 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 institutional investor acquired 145,214 shares of the medical research company's stock, valued at approximately $10,750,000. Edwards Lifesciences accounts for approximately 1.4% of Parkman Healthcare Partners LLC's holdings, making the stock its 25th largest holding.

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

Analysts Set New Price Targets

EW has been the topic of a number of analyst reports. Wolfe Research cut shares of Edwards Lifesciences from a "hold" rating to a "strong sell" rating in a research note on Wednesday, February 12th. 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 report on Wednesday, February 12th. Piper Sandler upped their target price on shares of Edwards Lifesciences from $80.00 to $83.00 and gave the company an "overweight" rating in a report on Tuesday. Royal Bank of Canada restated an "outperform" rating and set a $85.00 target price on shares of Edwards Lifesciences in a report on Wednesday, February 12th. Finally, Canaccord Genuity Group boosted their price objective on Edwards Lifesciences from $71.00 to $75.00 and gave the company a "hold" rating in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Edwards Lifesciences has an average rating of "Hold" and an average price target of $79.60.

Insiders Place Their Bets

In other Edwards Lifesciences news, CEO Bernard J. Zovighian sold 5,980 shares of the company'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 transaction, the chief executive officer now owns 58,284 shares of the company's stock, valued at $4,366,054.44. This represents a 9.31% decrease in their ownership of the stock. The transaction 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 firm's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $74.40, for a total value of $837,000.00. Following the transaction, the chief financial officer now owns 41,098 shares of the company's stock, valued at approximately $3,057,691.20. This represents a 21.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,681 shares of company stock valued at $6,492,703. 1.29% of the stock is owned by insiders.

Edwards Lifesciences Stock Up 0.9%

EW opened at $75.48 on Wednesday. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. The firm's 50 day simple moving average is $71.59 and its two-hundred day simple moving average is $71.58. The company has a market capitalization of $44.28 billion, a PE ratio of 10.83, a PEG ratio of 4.82 and a beta of 1.12. Edwards Lifesciences Co. has a 1-year low of $58.93 and a 1-year high of $95.25.

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 (EPS) 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 during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the previous year, the business earned $0.66 earnings per share. Edwards Lifesciences's quarterly revenue was up 6.2% on a year-over-year basis. As a group, equities analysts forecast that Edwards Lifesciences Co. will post 2.45 EPS for the current year.

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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