Phoenix Financial Ltd. cut its stake in shares of Edwards Lifesciences Corporation (NYSE:EW – Free Report) by 93.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,065 shares of the medical research company’s stock after selling 41,244 shares during the quarter. Phoenix Financial Ltd.’s holdings in Edwards Lifesciences were worth $222,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Vega Investment Solutions acquired a new stake in shares of Edwards Lifesciences during the fourth quarter worth $27,000. Rossby Financial LCC purchased a new position in Edwards Lifesciences in the first quarter worth $29,000. Global X Japan Co. Ltd. raised its position in Edwards Lifesciences by 116.1% in the first quarter. Global X Japan Co. Ltd. now owns 402 shares of the medical research company’s stock worth $29,000 after acquiring an additional 216 shares in the last quarter. Tradewinds Capital Management LLC raised its position in Edwards Lifesciences by 102.5% in the first quarter. Tradewinds Capital Management LLC now owns 405 shares of the medical research company’s stock worth $29,000 after acquiring an additional 205 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new position in Edwards Lifesciences in the first quarter worth $38,000. 79.46% of the stock is owned by institutional investors and hedge funds.
Edwards Lifesciences Trading Up 5.4%
Edwards Lifesciences stock opened at $79.92 on Friday. The stock has a market cap of $46.88 billion, a PE ratio of 11.50, a P/E/G ratio of 4.02 and a beta of 1.11. The stock has a 50-day moving average price of $76.58 and a 200 day moving average price of $73.56. Edwards Lifesciences Corporation has a 52 week low of $59.41 and a 52 week high of $83.00. The company has a current ratio of 4.45, a quick ratio of 3.66 and a debt-to-equity ratio of 0.06.
Insider Transactions at Edwards Lifesciences
In other Edwards Lifesciences news, CFO Scott B. Ullem sold 11,250 shares of the firm’s stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $74.40, for a total value of $837,000.00. Following the sale, the chief financial officer directly owned 41,098 shares of the company’s stock, valued at approximately $3,057,691.20. This trade represents a 21.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Bernard J. Zovighian sold 5,980 shares of the firm’s 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 completion of the sale, the chief executive officer directly owned 58,284 shares in the company, valued at approximately $4,366,054.44. The trade was a 9.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,848 shares of company stock worth $2,314,488 in the last quarter. 1.29% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on EW. Wells Fargo & Company increased their price objective on Edwards Lifesciences from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Friday. Stifel Nicolaus increased their price objective on Edwards Lifesciences from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday. Argus upgraded Edwards Lifesciences to a “strong-buy” rating in a research report on Thursday, July 10th. Deutsche Bank Aktiengesellschaft increased their price objective on Edwards Lifesciences from $85.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Mizuho increased their price objective on Edwards Lifesciences from $87.00 to $95.00 and gave the stock an “outperform” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $85.00.
Read Our Latest Research Report on Edwards Lifesciences
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.
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