Jefferies Financial Group Inc. bought a new stake in Edwards Lifesciences Corporation (NYSE:EW – Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 39,620 shares of the medical research company’s stock, valued at approximately $3,584,000.
Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new position in Edwards Lifesciences during the second quarter valued at $5,318,092,000. Bank of New York Mellon Corp acquired a new stake in Edwards Lifesciences during the 2nd quarter worth about $1,274,082,000. Norges Bank purchased a new position in Edwards Lifesciences during the 4th quarter valued at about $803,686,000. Bank of America Corp DE acquired a new position in shares of Edwards Lifesciences in the 2nd quarter valued at about $605,397,000. Finally, Deutsche Bank AG purchased a new stake in shares of Edwards Lifesciences in the second quarter worth approximately $516,552,000. Hedge funds and other institutional investors own 79.46% of the company’s stock.
Edwards Lifesciences Price Performance
NYSE EW opened at $90.19 on Friday. 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 stock has a market capitalization of $51.93 billion, a PE ratio of 51.83, a price-to-earnings-growth ratio of 2.36 and a beta of 0.85. Edwards Lifesciences Corporation has a 12-month low of $72.30 and a 12-month high of $96.29. The company has a 50 day moving average price of $89.54 and a two-hundred day moving average price of $85.03.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on EW. JPMorgan Chase & Co. boosted their price objective on shares of Edwards Lifesciences from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. Weiss Ratings reissued a “hold (c)” rating on shares of Edwards Lifesciences in a research note on Friday, July 17th. Wall Street Zen downgraded shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. TD Cowen reiterated a “buy” rating on shares of Edwards Lifesciences in a report on Tuesday, July 21st. Finally, Citigroup lifted their price objective on Edwards Lifesciences from $101.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Seventeen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $100.27.
Read Our Latest Stock Report on Edwards Lifesciences
Insider Activity
In related news, VP Daniel J. Lippis sold 619 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $92.03, for a total value of $56,966.57. Following the completion of the sale, the vice president directly owned 40,034 shares in the company, valued at approximately $3,684,329.02. The trade was a 1.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Annette Bruls sold 2,644 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $89.98, for a total value of $237,907.12. Following the sale, the vice president directly owned 17,984 shares of the company’s stock, valued at $1,618,200.32. The trade was a 12.82% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 4,501 shares of company stock valued at $408,213. 0.31% of the stock is currently owned by corporate insiders.
About Edwards Lifesciences
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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