1248 Management LLC Buys Shares of 16,498 Edwards Lifesciences Co. (NYSE:EW)

1248 Management LLC acquired a new stake in Edwards Lifesciences Co. (NYSE:EW) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 16,498 shares of the medical research company’s stock, valued at approximately $1,221,000.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Edwards Lifesciences during the fourth quarter worth $610,895,000. Jennison Associates LLC acquired a new stake in shares of Edwards Lifesciences in the 4th quarter valued at about $555,939,000. Vanguard Group Inc. lifted its holdings in shares of Edwards Lifesciences by 10.4% in the fourth quarter. Vanguard Group Inc. now owns 69,132,036 shares of the medical research company’s stock valued at $5,117,845,000 after purchasing an additional 6,537,494 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Edwards Lifesciences by 475.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 4,243,976 shares of the medical research company’s stock worth $314,182,000 after buying an additional 3,506,886 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Edwards Lifesciences in the 4th quarter valued at approximately $213,844,000. Institutional investors and hedge funds own 79.46% of the company’s stock.

Edwards Lifesciences Stock Performance

Shares of NYSE:EW opened at $75.31 on Friday. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $95.25. The company’s 50 day moving average price is $71.08 and its two-hundred day moving average price is $71.26. The firm has a market cap of $44.27 billion, a PE ratio of 10.81, a PEG ratio of 4.82 and a beta of 1.15.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share 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 firm 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 firm earned $0.66 EPS. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. Equities research analysts predict that Edwards Lifesciences Co. will post 2.45 earnings per share for the current year.

Insider Buying and Selling at Edwards Lifesciences

In other news, Director Steven R. Loranger sold 5,739 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $76.42, for a total transaction of $438,574.38. Following the completion of the transaction, the director now owns 60,372 shares of the company’s stock, valued at approximately $4,613,628.24. The trade was a 8.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 9,500 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $67.96, for a total value of $645,620.00. Following the completion of the sale, the vice president now directly owns 46,936 shares in the company, valued at $3,189,770.56. This trade represents a 16.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,853 shares of company stock valued at $5,163,062 in the last ninety days. 1.29% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on EW shares. Wolfe Research cut shares of Edwards Lifesciences from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 12th. Truist Financial reduced their price objective on shares of Edwards Lifesciences from $78.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, April 11th. Barclays upped their target price on Edwards Lifesciences from $88.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Piper Sandler raised Edwards Lifesciences from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $73.00 to $80.00 in a research report on Thursday, April 24th. Finally, Canaccord Genuity Group increased their price objective on Edwards Lifesciences from $71.00 to $75.00 and gave the company a “hold” rating in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $79.45.

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.