Golden State Wealth Management LLC Boosts Stock Position in Edwards Lifesciences Corporation (NYSE:EW)

Golden State Wealth Management LLC raised its position in shares of Edwards Lifesciences Corporation (NYSE:EW) by 125.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,135 shares of the medical research company’s stock after purchasing an additional 2,853 shares during the quarter. Golden State Wealth Management LLC’s holdings in Edwards Lifesciences were worth $372,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in EW. Crowley Wealth Management Inc. purchased a new stake in Edwards Lifesciences during the 4th quarter valued at about $26,000. Vega Investment Solutions purchased a new stake in Edwards Lifesciences during the 4th quarter valued at about $27,000. Millstone Evans Group LLC purchased a new stake in Edwards Lifesciences during the 4th quarter valued at about $29,000. Global X Japan Co. Ltd. grew its stake in Edwards Lifesciences by 116.1% during the 1st quarter. Global X Japan Co. Ltd. now owns 402 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 216 shares during the last quarter. Finally, ORG Wealth Partners LLC purchased a new stake in Edwards Lifesciences during the 1st quarter valued at about $38,000. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Insider Buying and Selling at Edwards Lifesciences

In related news, insider Larry L. Wood sold 8,950 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $75.23, for a total value of $673,308.50. Following the completion of the sale, the insider now owns 206,900 shares of the company’s stock, valued at approximately $15,565,087. This trade represents a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Donald E. Bobo, Jr. sold 9,500 shares of the stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $69.81, for a total value of $663,195.00. Following the completion of the sale, the vice president now directly owns 47,206 shares of the company’s stock, valued at approximately $3,295,450.86. This represents a 16.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,648 shares of company stock valued at $2,998,866 over the last quarter. 1.29% of the stock is currently owned by insiders.

Edwards Lifesciences Price Performance

Shares of Edwards Lifesciences stock opened at $78.07 on Friday. The business has a 50 day simple moving average of $75.62 and a two-hundred day simple moving average of $73.16. Edwards Lifesciences Corporation has a 12 month low of $58.93 and a 12 month high of $95.25. The stock has a market capitalization of $45.80 billion, a P/E ratio of 11.15, a PEG ratio of 3.89 and a beta of 1.12. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.45 and a quick ratio of 3.66.

Edwards Lifesciences (NYSE:EW) last announced its earnings results on Wednesday, April 23rd. The medical research company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.04. Edwards Lifesciences had a return on equity of 16.62% and a net margin of 75.48%. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the prior year, the firm earned $0.66 earnings per share. The business’s revenue was up 6.2% compared to the same quarter last year. As a group, analysts predict that Edwards Lifesciences Corporation will post 2.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on EW shares. Wall Street Zen downgraded Edwards Lifesciences from a “buy” rating to a “hold” rating in a research note on Friday, May 16th. Dbs Bank upgraded Edwards Lifesciences to a “hold” rating in a research note on Monday, June 2nd. Piper Sandler upped their target price on Edwards Lifesciences from $80.00 to $83.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 13th. Robert W. Baird upped their target price on Edwards Lifesciences from $72.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, April 24th. Finally, Truist Financial lowered their target price on 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 investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Edwards Lifesciences currently has an average rating of “Hold” and a consensus price target of $80.20.

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.