Point72 Asset Management L.P. Makes New $43.55 Million Investment in Edwards Lifesciences Co. (NYSE:EW)

Point72 Asset Management L.P. acquired a new stake in Edwards Lifesciences Co. (NYSE:EW - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 588,206 shares of the medical research company's stock, valued at approximately $43,545,000. Point72 Asset Management L.P. owned about 0.10% of Edwards Lifesciences as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Sivik Global Healthcare LLC bought a new stake in Edwards Lifesciences during the fourth quarter valued at $3,702,000. Avanza Fonder AB acquired a new stake in Edwards Lifesciences during the fourth quarter worth approximately $4,845,000. Farmers & Merchants Investments Inc. increased its holdings in 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 worth $9,945,000 after purchasing an additional 23,409 shares in the last quarter. Lockheed Martin Investment Management Co. acquired a new position in Edwards Lifesciences in the fourth quarter valued at approximately $4,499,000. Finally, Union Bancaire Privee UBP SA acquired a new position in Edwards Lifesciences in the fourth quarter valued at approximately $1,120,000. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Edwards Lifesciences Stock Performance

NYSE EW traded up $0.02 during trading hours on Monday, reaching $78.02. 5,512,865 shares of the company were exchanged, compared to its average volume of 5,103,474. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06. The business's 50 day simple moving average is $72.08 and its 200-day simple moving average is $71.79. Edwards Lifesciences Co. has a 1 year low of $58.93 and a 1 year high of $95.25. The stock has a market capitalization of $45.77 billion, a P/E ratio of 11.19, a P/E/G ratio of 4.82 and a beta of 1.12.

Edwards Lifesciences (NYSE:EW - Get Free Report) last released 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 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 analyst estimates of $1.40 billion. During the same period in the previous year, the business earned $0.66 EPS. Edwards Lifesciences's revenue was up 6.2% compared to the same quarter last year. On average, equities research analysts expect that Edwards Lifesciences Co. will post 2.45 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Stifel Nicolaus raised shares of Edwards Lifesciences from a "hold" rating to a "buy" rating and increased their price objective for the stock from $75.00 to $90.00 in a research report on Thursday, January 30th. Barclays raised their price objective on Edwards Lifesciences from $88.00 to $90.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Wolfe Research downgraded Edwards Lifesciences from a "hold" rating to a "strong sell" rating in a report on Wednesday, February 12th. Piper Sandler increased their target price on Edwards Lifesciences from $80.00 to $83.00 and gave the stock an "overweight" rating in a report on Tuesday, May 13th. Finally, Robert W. Baird lifted their price target on shares of Edwards Lifesciences from $72.00 to $75.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Edwards Lifesciences presently has a consensus rating of "Hold" and an average price target of $79.60.

Insider Activity

In related news, VP Daniel J. Lippis sold 400 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $69.48, for a total transaction of $27,792.00. Following the completion of the transaction, the vice president now directly owns 22,588 shares in the company, valued at $1,569,414.24. The trade was a 1.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Scott B. Ullem sold 11,250 shares of the firm's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $74.40, for a total value of $837,000.00. Following the completion of the sale, the chief financial officer now directly owns 41,098 shares in the company, valued at approximately $3,057,691.20. The trade was a 21.49% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,192 shares of company stock worth $4,709,454. 1.29% of the stock is owned by company insiders.

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.