Edwards Lifesciences Co. (NYSE:EW) Position Increased by Cinctive Capital Management LP

Cinctive Capital Management LP raised its position in Edwards Lifesciences Co. (NYSE:EW) by 166.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148,923 shares of the medical research company’s stock after purchasing an additional 92,963 shares during the quarter. Cinctive Capital Management LP’s holdings in Edwards Lifesciences were worth $11,025,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of EW. Crowley Wealth Management Inc. bought a new position in shares of Edwards Lifesciences during the 4th quarter valued at $26,000. Millstone Evans Group LLC bought a new stake in Edwards Lifesciences in the fourth quarter worth $29,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Edwards Lifesciences during the fourth quarter worth $30,000. Roble Belko & Company Inc bought a new position in Edwards Lifesciences during the fourth quarter valued at about $46,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Edwards Lifesciences in the fourth quarter worth about $54,000. 79.46% of the stock is owned by institutional investors and hedge funds.

Edwards Lifesciences Stock Down 1.0 %

NYSE EW opened at $71.77 on Wednesday. The stock’s 50 day simple moving average is $71.59 and its 200 day simple moving average is $70.59. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89. Edwards Lifesciences Co. has a one year low of $58.93 and a one year high of $95.25. The firm has a market cap of $42.19 billion, a PE ratio of 10.30, a price-to-earnings-growth ratio of 4.82 and a beta of 1.12.

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on EW shares. Morgan Stanley raised their price objective on Edwards Lifesciences from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Piper Sandler raised their target price on shares of Edwards Lifesciences from $70.00 to $73.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Citigroup boosted their target price 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. Wolfe Research lowered Edwards Lifesciences from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 12th. Finally, 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 research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $79.95.

Insider Activity at Edwards Lifesciences

In other news, CFO Scott B. Ullem sold 11,250 shares of Edwards Lifesciences stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $75.76, for a total transaction of $852,300.00. Following the transaction, the chief financial officer now directly owns 30,561 shares of the company’s stock, valued at $2,315,301.36. This trade represents a 26.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Steven R. Loranger sold 5,739 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $76.42, for a total value of $438,574.38. Following the sale, the director now directly owns 60,372 shares in the company, valued at approximately $4,613,628.24. This represents a 8.68 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 62,553 shares of company stock worth $4,513,064. 1.29% of the stock is owned by insiders.

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.