Forefront Analytics LLC acquired a new stake in Edwards Lifesciences Corporation (NYSE:EW – Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 6,158 shares of the medical research company’s stock, valued at approximately $557,000. Edwards Lifesciences comprises 0.6% of Forefront Analytics LLC’s holdings, making the stock its 14th biggest position.
Other large investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Edwards Lifesciences in the 2nd quarter valued at $5,318,092,000. State Street Corp raised its position in Edwards Lifesciences by 1.5% in the 4th quarter. State Street Corp now owns 25,991,524 shares of the medical research company’s stock valued at $2,215,777,000 after purchasing an additional 371,892 shares during the last quarter. Wellington Management Group LLP boosted its stake in Edwards Lifesciences by 4.8% during the 4th quarter. Wellington Management Group LLP now owns 21,793,949 shares of the medical research company’s stock worth $1,857,934,000 after purchasing an additional 989,533 shares during the period. Bank of New York Mellon Corp acquired a new stake in Edwards Lifesciences during the 2nd quarter worth $1,274,082,000. Finally, Norges Bank purchased a new position in Edwards Lifesciences during the 4th quarter worth $803,686,000. 79.46% of the stock is owned by institutional investors and hedge funds.
Edwards Lifesciences Stock Up 0.1%
Shares of NYSE:EW opened at $89.89 on Monday. Edwards Lifesciences Corporation has a fifty-two week low of $72.30 and a fifty-two week high of $96.29. The company has a quick ratio of 3.77, a current ratio of 4.52 and a debt-to-equity ratio of 0.06. The firm’s 50-day simple moving average is $89.21 and its 200-day simple moving average is $84.68. The company has a market cap of $51.76 billion, a price-to-earnings ratio of 51.66, a PEG ratio of 2.25 and a beta of 0.85.
Insider Transactions at Edwards Lifesciences
In related news, SVP Andrew M. Dahl sold 568 shares of the company’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $86.08, for a total transaction of $48,893.44. Following the transaction, the senior vice president owned 15,334 shares of the company’s stock, valued at $1,319,950.72. This represents a 3.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Donald E. Bobo, Jr. sold 23,145 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $86.42, for a total value of $2,000,190.90. Following the completion of the transaction, the vice president owned 98,611 shares of the company’s stock, valued at $8,521,962.62. The trade was a 19.01% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 25,570 shares of company stock valued at $2,219,390. Corporate insiders own 0.31% of the company’s stock.
Analysts Set New Price Targets
EW has been the subject of a number of research reports. Royal Bank Of Canada upped their target price on shares of Edwards Lifesciences from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Wall Street Zen lowered Edwards Lifesciences from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Leerink Partners upgraded Edwards Lifesciences from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $87.00 to $101.00 in a research report on Friday, July 24th. TD Cowen reaffirmed a “buy” rating on shares of Edwards Lifesciences in a research note on Tuesday, July 21st. Finally, UBS Group initiated coverage on Edwards Lifesciences in a research report on Tuesday, July 28th. They set a “buy” rating and a $110.00 price objective for the company. Seventeen analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.27.
Read Our Latest Research Report on EW
Edwards Lifesciences Company Profile
Edwards Lifesciences is a medical technology company focused on products and therapies for structural heart disease and critical care monitoring. The company designs, develops and manufactures prosthetic heart valves and related delivery systems used in both surgical and minimally invasive (transcatheter) procedures. Its portfolio addresses a range of valvular conditions, with an emphasis on technologies that enable transcatheter aortic valve replacement (TAVR) as an alternative to open-heart surgery.
In addition to transcatheter heart valves—including the widely recognized SAPIEN family—Edwards offers surgical tissue valves and ancillary devices used by cardiac surgeons, interventional cardiologists and hospital teams.
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