Park Avenue Securities LLC lessened its stake in shares of Edwards Lifesciences Corporation (NYSE:EW – Free Report) by 11.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,507 shares of the medical research company’s stock after selling 5,570 shares during the quarter. Park Avenue Securities LLC’s holdings in Edwards Lifesciences were worth $3,583,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Edwards Lifesciences in the second quarter valued at approximately $5,318,092,000. Bank of New York Mellon Corp bought a new stake in Edwards Lifesciences during the 2nd quarter worth approximately $1,274,082,000. Bank of America Corp DE bought a new stake in Edwards Lifesciences during the 2nd quarter worth approximately $605,397,000. Deutsche Bank AG purchased a new stake in Edwards Lifesciences in the 2nd quarter worth approximately $516,552,000. Finally, Legal & General Group Plc purchased a new stake in Edwards Lifesciences in the 2nd quarter worth approximately $389,089,000. 79.46% of the stock is currently owned by institutional investors.
Edwards Lifesciences Price Performance
EW stock opened at $94.35 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.77 and a current ratio of 4.52. Edwards Lifesciences Corporation has a 52 week low of $74.66 and a 52 week high of $96.29. The firm’s fifty day moving average is $88.11 and its 200 day moving average is $85.38. The firm has a market cap of $54.33 billion, a P/E ratio of 54.22, a P/E/G ratio of 2.40 and a beta of 0.87.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on EW. UBS Group restated a “buy” rating and set a $110.00 price target (up from $90.00) on shares of Edwards Lifesciences in a research report on Thursday, October 8th. TD Cowen reissued a “buy” rating on shares of Edwards Lifesciences in a research note on Tuesday. Piper Sandler restated an “overweight” rating and set a $101.00 target price (up from $100.00) on shares of Edwards Lifesciences in a research report on Friday, July 24th. Argus upped their target price on Edwards Lifesciences from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, August 21st. Finally, Jefferies Financial Group raised their price target on Edwards Lifesciences from $102.00 to $105.00 and gave the company a “buy” rating in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $100.31.
Check Out Our Latest Report on EW
Insiders Place Their Bets
In other news, VP Daniel Lippis sold 619 shares of the business’s stock in a transaction that occurred on Thursday, October 8th. The stock was sold at an average price of $85.65, for a total transaction of $53,017.35. Following the transaction, the vice president directly owned 40,034 shares of the company’s stock, valued at approximately $3,428,912.10. The trade was a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Andrew M. Dahl sold 544 shares of the stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $91.06, for a total transaction of $49,536.64. Following the completion of the transaction, the senior vice president directly owned 14,868 shares of the company’s stock, valued at approximately $1,353,880.08. The trade was a 3.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 5,045 shares of company stock valued at $451,596 in the last quarter. Insiders own 0.31% of the company’s stock.
Edwards Lifesciences Profile
Edwards Lifesciences Corporation (NYSE:EW) is a medical technology company focused on therapies for structural heart disease and critical care. The company develops and manufactures products designed to treat conditions affecting the heart’s valves, including aortic, mitral and tricuspid valve disorders.
Its portfolio includes transcatheter aortic valve replacement systems, transcatheter mitral and tricuspid therapies, surgical heart valves and valve-repair technologies. Edwards also provides related delivery systems and other medical devices used by physicians in minimally invasive and open-heart procedures.
Founded in 1958 by Miles Lowell Edwards, the company is headquartered in Irvine, California, and serves healthcare providers and patients internationally.
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