Clearstead Trust LLC Takes Position in Edwards Lifesciences Co. (NYSE:EW)

Clearstead Trust LLC bought a new position in Edwards Lifesciences Co. (NYSE:EW) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 1,713 shares of the medical research company’s stock, valued at approximately $131,000.

Several other hedge funds have also recently added to or reduced their stakes in EW. Connecticut Wealth Management LLC raised its stake in shares of Edwards Lifesciences by 26.0% during the fourth quarter. Connecticut Wealth Management LLC now owns 12,549 shares of the medical research company’s stock worth $957,000 after acquiring an additional 2,589 shares in the last quarter. National Bank of Canada FI increased its position in shares of Edwards Lifesciences by 4.6% in the fourth quarter. National Bank of Canada FI now owns 214,861 shares of the medical research company’s stock valued at $16,234,000 after acquiring an additional 9,352 shares during the period. Vestmark Advisory Solutions Inc. boosted its holdings in shares of Edwards Lifesciences by 13.1% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 6,834 shares of the medical research company’s stock worth $521,000 after purchasing an additional 793 shares during the period. Baxter Bros Inc. raised its holdings in Edwards Lifesciences by 7.1% in the fourth quarter. Baxter Bros Inc. now owns 90,542 shares of the medical research company’s stock worth $6,904,000 after purchasing an additional 5,985 shares in the last quarter. Finally, Malaga Cove Capital LLC boosted its stake in Edwards Lifesciences by 43.0% during the fourth quarter. Malaga Cove Capital LLC now owns 6,907 shares of the medical research company’s stock worth $527,000 after acquiring an additional 2,076 shares in the last quarter. Institutional investors own 79.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on EW shares. OTR Global raised Edwards Lifesciences from a “mixed” rating to a “positive” rating in a research report on Tuesday, March 26th. Mizuho upped their price target on shares of Edwards Lifesciences from $95.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Evercore ISI decreased their target price on shares of Edwards Lifesciences from $92.00 to $89.00 and set an “in-line” rating for the company in a report on Friday, April 26th. Piper Sandler increased their price target on shares of Edwards Lifesciences from $85.00 to $88.00 and gave the company a “neutral” rating in a report on Friday, April 26th. Finally, Wells Fargo & Company boosted their price objective on shares of Edwards Lifesciences from $94.00 to $99.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Edwards Lifesciences currently has a consensus rating of “Moderate Buy” and an average target price of $92.71.

Edwards Lifesciences Price Performance

EW stock traded up $0.19 during trading on Friday, hitting $85.25. 2,327,197 shares of the company’s stock traded hands, compared to its average volume of 3,001,614. Edwards Lifesciences Co. has a 52 week low of $60.57 and a 52 week high of $96.12. The stock has a market capitalization of $51.37 billion, a price-to-earnings ratio of 36.75, a P/E/G ratio of 3.59 and a beta of 1.10. The business has a fifty day simple moving average of $90.08 and a 200 day simple moving average of $79.46. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.67 and a current ratio of 3.75.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Thursday, April 25th. The medical research company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. Edwards Lifesciences had a net margin of 23.01% and a return on equity of 22.86%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.58 billion. As a group, research analysts expect that Edwards Lifesciences Co. will post 2.77 EPS for the current fiscal year.

Insider Transactions at Edwards Lifesciences

In related news, VP Jean-Luc M. Lemercier sold 14,400 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $84.21, for a total transaction of $1,212,624.00. Following the sale, the vice president now owns 173,849 shares in the company, valued at approximately $14,639,824.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Edwards Lifesciences news, Director Michael A. Mussallem sold 29,350 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $84.77, for a total value of $2,487,999.50. Following the sale, the director now owns 4,486 shares in the company, valued at $380,278.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Jean-Luc M. Lemercier sold 14,400 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $84.21, for a total transaction of $1,212,624.00. Following the sale, the vice president now directly owns 173,849 shares of the company’s stock, valued at $14,639,824.29. The disclosure for this sale can be found here. In the last 90 days, insiders sold 237,749 shares of company stock worth $20,920,934. 1.29% of the stock is currently owned by company insiders.

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.