Magnolia Capital Advisors LLC acquired a new position in Edwards Lifesciences Corporation (NYSE:EW – Free Report) in the second quarter, Holdings Channel reports. The fund acquired 9,328 shares of the medical research company’s stock, valued at approximately $844,000.
Other hedge funds have also bought and sold shares of the company. BlackRock Inc. purchased a new position in Edwards Lifesciences in the second quarter valued at about $5,318,092,000. Varma Mutual Pension Insurance Co bought a new stake in Edwards Lifesciences in the 2nd quarter valued at about $11,168,000. Norges Bank bought a new position in Edwards Lifesciences during the fourth quarter worth about $803,686,000. Conway Capital Management Inc. purchased a new stake in shares of Edwards Lifesciences during the 2nd quarter valued at approximately $954,000. Finally, TD Asset Management Inc grew its stake in Edwards Lifesciences by 6.4% in the 4th quarter. TD Asset Management Inc now owns 778,129 shares of the medical research company’s stock valued at $66,335,000 after buying an additional 47,051 shares in the last quarter. 79.46% of the stock is currently owned by institutional investors.
Edwards Lifesciences Price Performance
Shares of NYSE EW opened at $90.93 on Thursday. Edwards Lifesciences Corporation has a twelve month low of $72.30 and a twelve month high of $96.29. The company has a 50 day moving average of $89.43 and a 200 day moving average of $84.91. 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 has a market cap of $52.36 billion, a P/E ratio of 52.26, a PEG ratio of 2.38 and a beta of 0.85.
Insider Buying and Selling
In other Edwards Lifesciences news, VP Daniel J. Lippis sold 619 shares of the stock in a transaction 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 owned 40,034 shares in the company, valued at approximately $3,684,329.02. This represents a 1.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Andrew M. Dahl sold 568 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $86.08, for a total transaction of $48,893.44. Following the sale, the senior vice president directly owned 15,334 shares of the company’s stock, valued at approximately $1,319,950.72. This trade represents a 3.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 2,425 shares of company stock valued at $219,199. Company insiders own 0.31% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts have commented on EW shares. UBS Group assumed coverage on Edwards Lifesciences in a research note on Tuesday, July 28th. They issued a “buy” rating and a $110.00 target price for the company. BTIG Research increased their target price on Edwards Lifesciences from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. Piper Sandler reiterated an “overweight” rating and set a $101.00 price target (up from $100.00) on shares of Edwards Lifesciences in a research report on Friday, July 24th. Leerink Partners raised Edwards Lifesciences from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $87.00 to $101.00 in a research note on Friday, July 24th. Finally, JPMorgan Chase & Co. increased their price target 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. Seventeen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Edwards Lifesciences currently has an average rating of “Moderate Buy” and an average price target of $100.27.
Check Out Our Latest Stock Analysis on Edwards Lifesciences
Edwards Lifesciences 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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