Shorepoint Capital Partners LLC Boosts Stock Position in Edwards Lifesciences Co. (NYSE:EW)

Shorepoint Capital Partners LLC lifted its position in Edwards Lifesciences Co. (NYSE:EW) by 2.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,662 shares of the medical research company’s stock after acquiring an additional 1,737 shares during the quarter. Edwards Lifesciences accounts for approximately 1.2% of Shorepoint Capital Partners LLC’s holdings, making the stock its 28th largest position. Shorepoint Capital Partners LLC’s holdings in Edwards Lifesciences were worth $5,157,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of EW. Prosperity Consulting Group LLC increased its holdings in shares of Edwards Lifesciences by 3.6% during the fourth quarter. Prosperity Consulting Group LLC now owns 3,906 shares of the medical research company’s stock valued at $289,000 after purchasing an additional 134 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Edwards Lifesciences in the 4th quarter valued at approximately $33,945,000. Coldstream Capital Management Inc. raised its position in Edwards Lifesciences by 15.5% during the fourth quarter. Coldstream Capital Management Inc. now owns 10,836 shares of the medical research company’s stock valued at $802,000 after buying an additional 1,454 shares during the period. Kovitz Investment Group Partners LLC lifted its position in Edwards Lifesciences by 79.4% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 41,337 shares of the medical research company’s stock worth $3,060,000 after buying an additional 18,298 shares in the last quarter. Finally, Empire Financial Management Company LLC purchased a new stake in shares of Edwards Lifesciences during the fourth quarter worth $222,000. 79.46% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Edwards Lifesciences

In other news, CFO Scott B. Ullem sold 11,250 shares of the stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $70.87, for a total transaction of $797,287.50. Following the completion of the sale, the chief financial officer now directly owns 30,387 shares in the company, valued at $2,153,526.69. This represents a 27.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Donald E. Bobo, Jr. sold 9,500 shares of the company’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $69.81, for a total value of $663,195.00. Following the sale, the vice president now owns 47,206 shares in the company, valued at approximately $3,295,450.86. The trade was a 16.75 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,853 shares of company stock valued at $5,163,062. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on EW. Royal Bank of Canada reissued an “outperform” rating and set a $85.00 price objective on shares of Edwards Lifesciences in a report on Wednesday, February 12th. Morgan Stanley boosted their price target on shares of Edwards Lifesciences from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. Piper Sandler upgraded Edwards Lifesciences from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $73.00 to $80.00 in a research note on Thursday. Wolfe Research lowered shares of Edwards Lifesciences from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 12th. Finally, Truist Financial reduced their target price on shares of Edwards Lifesciences from $78.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Edwards Lifesciences has a consensus rating of “Hold” and a consensus target price of $79.45.

Edwards Lifesciences Stock Performance

Shares of EW stock opened at $76.06 on Friday. The company has a 50-day simple moving average of $70.94 and a 200 day simple moving average of $71.09. The company has a market capitalization of $44.71 billion, a price-to-earnings ratio of 10.91, a PEG ratio of 4.82 and a beta of 1.15. Edwards Lifesciences Co. has a 52 week low of $58.93 and a 52 week high of $95.25. 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 (NYSE:EW) last issued its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.04. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the previous year, the company posted $0.66 earnings per share. On average, sell-side analysts predict that Edwards Lifesciences Co. will post 2.45 earnings per share for the current year.

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.