Edwards Lifesciences Co. (NYSE:EW) Shares Purchased by Crescent Grove Advisors LLC

Crescent Grove Advisors LLC raised its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 24.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,704 shares of the medical research company’s stock after acquiring an additional 525 shares during the quarter. Crescent Grove Advisors LLC’s holdings in Edwards Lifesciences were worth $250,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Park Avenue Securities LLC grew its holdings in shares of Edwards Lifesciences by 0.5% in the 2nd quarter. Park Avenue Securities LLC now owns 23,484 shares of the medical research company’s stock worth $2,169,000 after acquiring an additional 108 shares during the last quarter. City State Bank increased its stake in Edwards Lifesciences by 16.5% in the 2nd quarter. City State Bank now owns 917 shares of the medical research company’s stock worth $85,000 after purchasing an additional 130 shares in the last quarter. Chapin Davis Inc. raised its holdings in Edwards Lifesciences by 1.7% during the 1st quarter. Chapin Davis Inc. now owns 8,548 shares of the medical research company’s stock worth $817,000 after buying an additional 140 shares during the period. Johnson Financial Group Inc. lifted its stake in Edwards Lifesciences by 23.0% during the fourth quarter. Johnson Financial Group Inc. now owns 771 shares of the medical research company’s stock valued at $59,000 after buying an additional 144 shares in the last quarter. Finally, Valley National Advisers Inc. increased its position in shares of Edwards Lifesciences by 6.0% in the first quarter. Valley National Advisers Inc. now owns 2,677 shares of the medical research company’s stock worth $255,000 after acquiring an additional 152 shares in the last quarter. 79.46% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Edwards Lifesciences

In related news, VP Daveen Chopra sold 1,250 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total transaction of $87,437.50. Following the completion of the transaction, the vice president now directly owns 29,333 shares in the company, valued at approximately $2,051,843.35. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Bernard J. Zovighian sold 8,617 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $87.68, for a total transaction of $755,538.56. Following the sale, the chief executive officer now directly owns 68,218 shares in the company, valued at $5,981,354.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Daveen Chopra sold 1,250 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total value of $87,437.50. Following the completion of the transaction, the vice president now directly owns 29,333 shares of the company’s stock, valued at $2,051,843.35. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,867 shares of company stock worth $2,077,526. Insiders own 1.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Bank of America lowered shares of Edwards Lifesciences from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $105.00 to $75.00 in a research note on Thursday, July 25th. Wells Fargo & Company dropped their price target on Edwards Lifesciences from $99.00 to $90.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Truist Financial downgraded Edwards Lifesciences from a “buy” rating to a “hold” rating and dropped their target price for the company from $110.00 to $82.00 in a report on Thursday, July 25th. Barclays decreased their price target on shares of Edwards Lifesciences from $101.00 to $90.00 and set an “overweight” rating for the company in a report on Friday, July 26th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Edwards Lifesciences from $103.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Fourteen analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $82.10.

Edwards Lifesciences Stock Performance

Shares of NYSE EW traded up $0.71 during trading hours on Wednesday, hitting $70.09. 3,561,214 shares of the stock were exchanged, compared to its average volume of 4,079,937. Edwards Lifesciences Co. has a one year low of $58.93 and a one year high of $96.12. The company’s 50 day moving average is $79.70 and its 200 day moving average is $85.59. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.71 and a quick ratio of 2.87. The firm has a market capitalization of $42.24 billion, a P/E ratio of 30.21, a P/E/G ratio of 2.57 and a beta of 1.11.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.01. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period last year, the business posted $0.66 earnings per share. The firm’s revenue was up 6.7% compared to the same quarter last year. On average, research analysts expect that Edwards Lifesciences Co. will post 2.71 EPS for the current 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.