Lake Street Advisors Group LLC Increases Stock Position in Edwards Lifesciences Co. (NYSE:EW)

Lake Street Advisors Group LLC grew its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 17.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,661 shares of the medical research company’s stock after buying an additional 552 shares during the period. Lake Street Advisors Group LLC’s holdings in Edwards Lifesciences were worth $271,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. JFG Wealth Management LLC acquired a new position in shares of Edwards Lifesciences during the 4th quarter valued at $295,000. Los Angeles Capital Management LLC acquired a new position in shares of Edwards Lifesciences during the 4th quarter valued at $220,000. Prasad Wealth Partners LLC acquired a new position in shares of Edwards Lifesciences during the 4th quarter valued at $277,000. BankPlus Trust Department acquired a new position in shares of Edwards Lifesciences during the 4th quarter valued at $844,000. Finally, Impax Asset Management Group plc lifted its holdings in shares of Edwards Lifesciences by 34.6% during the 4th quarter. Impax Asset Management Group plc now owns 17,448 shares of the medical research company’s stock valued at $1,292,000 after acquiring an additional 4,484 shares in the last quarter. 79.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Scott B. Ullem sold 11,250 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $75.76, for a total transaction of $852,300.00. Following the sale, the chief financial officer now owns 30,561 shares in the company, valued at $2,315,301.36. This represents a 26.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven R. Loranger sold 5,739 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $76.42, for a total transaction of $438,574.38. Following the sale, the director now owns 60,372 shares in the company, valued at approximately $4,613,628.24. This trade represents a 8.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,739 shares of company stock worth $2,799,104 over the last quarter. 1.29% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

EW has been the topic of several recent research reports. Truist Financial restated a “hold” rating and set a $78.00 target price (up previously from $70.00) on shares of Edwards Lifesciences in a report on Thursday, December 5th. Bank of America upgraded shares of Edwards Lifesciences from a “neutral” rating to a “buy” rating and lifted their target price for the company from $82.00 to $90.00 in a report on Monday, December 16th. Barclays boosted their price objective on shares of Edwards Lifesciences from $88.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. The Goldman Sachs Group upped their price objective on shares of Edwards Lifesciences from $81.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Finally, Wolfe Research cut shares of Edwards Lifesciences from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Edwards Lifesciences has an average rating of “Hold” and a consensus target price of $79.95.

Edwards Lifesciences Stock Performance

Shares of EW stock opened at $71.61 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46. Edwards Lifesciences Co. has a one year low of $58.93 and a one year high of $96.12. The company’s 50-day simple moving average is $72.64 and its 200-day simple moving average is $70.24. The stock has a market capitalization of $42.24 billion, a price-to-earnings ratio of 10.27, a PEG ratio of 4.82 and a beta of 1.10.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Tuesday, February 11th. The medical research company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.55 by $0.04. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. Equities analysts anticipate that Edwards Lifesciences Co. will post 2.45 earnings per share for the current fiscal year.

Edwards Lifesciences 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.