Larson Financial Group LLC Boosts Stake in Edwards Lifesciences Corporation (NYSE:EW)

Larson Financial Group LLC grew its stake in Edwards Lifesciences Corporation (NYSE:EW) by 47.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,033 shares of the medical research company’s stock after acquiring an additional 1,618 shares during the quarter. Larson Financial Group LLC’s holdings in Edwards Lifesciences were worth $365,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EW. Sage Mountain Advisors LLC purchased a new stake in Edwards Lifesciences in the 1st quarter valued at approximately $211,000. Wealthfront Advisers LLC grew its holdings in shares of Edwards Lifesciences by 14.0% during the 1st quarter. Wealthfront Advisers LLC now owns 25,013 shares of the medical research company’s stock valued at $1,813,000 after acquiring an additional 3,065 shares in the last quarter. Leo Wealth LLC lifted its position in Edwards Lifesciences by 1.2% during the 1st quarter. Leo Wealth LLC now owns 12,488 shares of the medical research company’s stock worth $905,000 after acquiring an additional 150 shares during the last quarter. Apollon Wealth Management LLC increased its stake in Edwards Lifesciences by 8.9% in the first quarter. Apollon Wealth Management LLC now owns 7,916 shares of the medical research company’s stock valued at $574,000 after acquiring an additional 645 shares during the period. Finally, Sigma Planning Corp boosted its stake in Edwards Lifesciences by 4.9% in the first quarter. Sigma Planning Corp now owns 4,055 shares of the medical research company’s stock valued at $294,000 after acquiring an additional 191 shares during the last quarter. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

Edwards Lifesciences Stock Up 0.1%

Edwards Lifesciences stock opened at $76.24 on Friday. The company has a quick ratio of 3.66, a current ratio of 4.45 and a debt-to-equity ratio of 0.06. The stock has a market cap of $44.72 billion, a P/E ratio of 10.89, a P/E/G ratio of 3.82 and a beta of 1.11. The company’s 50-day moving average price is $76.45 and its two-hundred day moving average price is $73.42. Edwards Lifesciences Corporation has a twelve month low of $58.93 and a twelve month high of $88.56.

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

Analysts Set New Price Targets

A number of research firms have commented on EW. Argus upgraded Edwards Lifesciences to a “strong-buy” rating in a research note on Thursday, July 10th. Citigroup reiterated a “buy” rating and issued a $95.00 price objective (up previously from $84.00) on shares of Edwards Lifesciences in a report on Thursday, May 22nd. Truist Financial lowered their price objective on shares of Edwards Lifesciences from $78.00 to $75.00 and set a “hold” rating on the stock in a research report on Friday, April 11th. Evercore ISI increased their price objective on shares of Edwards Lifesciences from $73.00 to $77.00 and gave the company an “in-line” rating in a report on Tuesday, July 8th. Finally, Mizuho boosted their price objective on shares of Edwards Lifesciences from $85.00 to $87.00 and gave the company an “outperform” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $81.00.

Insider Activity at Edwards Lifesciences

In related news, CEO Bernard J. Zovighian sold 5,980 shares of Edwards Lifesciences stock in a transaction on Monday, May 5th. The shares were sold at an average price of $74.91, for a total value of $447,961.80. Following the sale, the chief executive officer owned 58,284 shares of the company’s stock, valued at approximately $4,366,054.44. This trade represents a 9.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Daveen Chopra sold 1,500 shares of the company’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $75.08, for a total transaction of $112,620.00. Following the completion of the transaction, the vice president directly owned 33,496 shares in the company, valued at $2,514,879.68. The trade was a 4.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,848 shares of company stock valued at $2,314,488 in the last three months. Corporate insiders own 1.29% of the company’s stock.

Edwards Lifesciences Company 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.