Franklin Resources Inc. lifted its holdings in shares of Edwards Lifesciences Co. (NYSE:EW – Free Report) by 2.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,196,059 shares of the medical research company’s stock after purchasing an additional 27,193 shares during the period. Franklin Resources Inc.’s holdings in Edwards Lifesciences were worth $83,282,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of EW. FSA Wealth Management LLC purchased a new position in Edwards Lifesciences in the 3rd quarter valued at about $30,000. Prospera Private Wealth LLC purchased a new position in shares of Edwards Lifesciences during the third quarter valued at approximately $32,000. Avior Wealth Management LLC boosted its position in Edwards Lifesciences by 138.7% during the third quarter. Avior Wealth Management LLC now owns 530 shares of the medical research company’s stock worth $35,000 after acquiring an additional 308 shares during the last quarter. Peoples Bank KS purchased a new stake in Edwards Lifesciences in the 3rd quarter worth approximately $40,000. Finally, JFS Wealth Advisors LLC raised its holdings in Edwards Lifesciences by 31.1% in the 3rd quarter. JFS Wealth Advisors LLC now owns 700 shares of the medical research company’s stock valued at $46,000 after acquiring an additional 166 shares during the last quarter. 79.46% of the stock is currently owned by institutional investors and hedge funds.
Edwards Lifesciences Stock Performance
Edwards Lifesciences stock opened at $73.91 on Tuesday. The firm has a market capitalization of $43.59 billion, a PE ratio of 10.67, a price-to-earnings-growth ratio of 3.63 and a beta of 1.12. Edwards Lifesciences Co. has a one year low of $58.93 and a one year high of $96.12. The stock’s 50 day moving average price is $69.61 and its 200 day moving average price is $73.80. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46.
Insider Activity
In other Edwards Lifesciences news, VP Daniel J. Lippis sold 2,500 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $74.08, for a total transaction of $185,200.00. Following the transaction, the vice president now directly owns 23,189 shares in the company, valued at $1,717,841.12. This represents a 9.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $69.51, for a total transaction of $347,550.00. Following the transaction, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,262,521.36. This represents a 9.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,500 shares of company stock worth $2,508,350 over the last ninety days. Corporate insiders own 1.29% of the company’s stock.
Analyst Ratings Changes
EW has been the subject of a number of recent analyst reports. Bank of America raised Edwards Lifesciences from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $82.00 to $90.00 in a research report on Monday. Royal Bank of Canada lifted their price target on Edwards Lifesciences from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. Piper Sandler dropped their price objective on shares of Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Canaccord Genuity Group raised their target price on shares of Edwards Lifesciences from $63.00 to $68.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Finally, Citigroup upped their price target on shares of Edwards Lifesciences from $81.00 to $83.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Sixteen research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $79.40.
Check Out Our Latest Research Report on Edwards Lifesciences
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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