Salem Investment Counselors Inc. Has $765,000 Stock Holdings in Edwards Lifesciences Co. (NYSE:EW)

Salem Investment Counselors Inc. lifted its holdings in Edwards Lifesciences Co. (NYSE:EW) by 9.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,556 shares of the medical research company’s stock after buying an additional 940 shares during the period. Salem Investment Counselors Inc.’s holdings in Edwards Lifesciences were worth $765,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Alyeska Investment Group L.P. acquired a new stake in shares of Edwards Lifesciences in the fourth quarter worth $49,038,000. Simplify Asset Management Inc. acquired a new stake in shares of Edwards Lifesciences in the fourth quarter worth $5,979,000. Truist Financial Corp raised its holdings in shares of Edwards Lifesciences by 19.3% during the fourth quarter. Truist Financial Corp now owns 41,340 shares of the medical research company’s stock worth $3,060,000 after acquiring an additional 6,676 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Edwards Lifesciences by 786.9% during the fourth quarter. Assetmark Inc. now owns 1,082 shares of the medical research company’s stock worth $80,000 after acquiring an additional 960 shares in the last quarter. Finally, Advanced Portfolio Management LLC purchased a new stake in shares of Edwards Lifesciences during the fourth quarter worth $328,000. Institutional investors and hedge funds own 79.46% of the company’s stock.

Insider Activity

In related news, VP Daveen Chopra sold 1,500 shares of Edwards Lifesciences stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $75.08, for a total transaction of $112,620.00. Following the sale, the vice president now directly owns 33,496 shares of the company’s stock, valued at $2,514,879.68. This trade represents a 4.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Bernard J. Zovighian sold 5,980 shares of Edwards Lifesciences stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $74.91, for a total value of $447,961.80. Following the sale, the chief executive officer now directly owns 58,284 shares in the company, valued at approximately $4,366,054.44. This trade represents a 9.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 42,948 shares of company stock valued at $3,122,845. 1.29% of the stock is owned by insiders.

Analyst Ratings Changes

EW has been the subject of several recent research reports. Piper Sandler increased their price objective on Edwards Lifesciences from $80.00 to $83.00 and gave the stock an “overweight” rating in a report on Tuesday, May 13th. Canaccord Genuity Group increased their price objective on Edwards Lifesciences from $71.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, April 25th. Citigroup reiterated a “buy” rating and set a $95.00 price objective (up from $84.00) on shares of Edwards Lifesciences in a report on Thursday, May 22nd. Dbs Bank upgraded Edwards Lifesciences to a “hold” rating in a report on Monday, June 2nd. Finally, Truist Financial cut their price objective on Edwards Lifesciences from $78.00 to $75.00 and set a “hold” rating for the company in a report on Friday, April 11th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $80.20.

Edwards Lifesciences Trading Down 1.0%

Shares of NYSE:EW opened at $75.12 on Friday. The company has a market cap of $44.06 billion, a P/E ratio of 10.78, a P/E/G ratio of 4.82 and a beta of 1.12. The stock’s 50-day moving average is $74.54 and its 200-day moving average is $72.92. 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. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.40 billion. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. The firm’s revenue was up 6.2% compared to the same quarter last year. During the same period last year, the business posted $0.66 earnings per share. Equities research 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.