Tidal Investments LLC Boosts Stake in Edwards Lifesciences Co. (NYSE:EW)

Tidal Investments LLC boosted its stake in Edwards Lifesciences Co. (NYSE:EW) by 18.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 46,970 shares of the medical research company’s stock after acquiring an additional 7,438 shares during the period. Tidal Investments LLC’s holdings in Edwards Lifesciences were worth $3,477,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Prosperity Consulting Group LLC raised its stake in Edwards Lifesciences by 3.6% in the 4th quarter. Prosperity Consulting Group LLC now owns 3,906 shares of the medical research company’s stock valued at $289,000 after purchasing an additional 134 shares during the last quarter. Abacus Planning Group Inc. raised its stake in Edwards Lifesciences by 0.3% in the 4th quarter. Abacus Planning Group Inc. now owns 40,207 shares of the medical research company’s stock valued at $2,977,000 after purchasing an additional 140 shares during the last quarter. Moors & Cabot Inc. raised its stake in Edwards Lifesciences by 0.3% in the 4th quarter. Moors & Cabot Inc. now owns 54,589 shares of the medical research company’s stock valued at $4,041,000 after purchasing an additional 152 shares during the last quarter. Quadrant Capital Group LLC grew its stake in Edwards Lifesciences by 3.1% in the 4th quarter. Quadrant Capital Group LLC now owns 5,180 shares of the medical research company’s stock worth $383,000 after acquiring an additional 156 shares during the period. Finally, Pegasus Asset Management Inc. grew its stake in Edwards Lifesciences by 0.4% in the 4th quarter. Pegasus Asset Management Inc. now owns 42,628 shares of the medical research company’s stock worth $3,156,000 after acquiring an additional 159 shares during the period. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Insiders Place Their Bets

In other Edwards Lifesciences news, CEO Bernard J. Zovighian sold 5,980 shares of Edwards Lifesciences stock in a transaction on Monday, May 5th. The shares were sold at an average price of $74.91, for a total transaction of $447,961.80. Following the completion of the sale, the chief executive officer now owns 58,284 shares of the company’s stock, valued at approximately $4,366,054.44. The trade was a 9.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Daniel J. Lippis sold 400 shares of Edwards Lifesciences stock in a transaction on Monday, March 10th. The stock was sold at an average price of $69.48, for a total transaction of $27,792.00. Following the sale, the vice president now directly owns 22,588 shares of the company’s stock, valued at $1,569,414.24. This represents a 1.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,192 shares of company stock valued at $4,709,454 in the last 90 days. 1.29% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have commented on EW shares. Canaccord Genuity Group lifted their target price on shares of Edwards Lifesciences from $71.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, April 25th. Barclays raised their price target on Edwards Lifesciences from $88.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Stifel Nicolaus raised Edwards Lifesciences from a “hold” rating to a “buy” rating and raised their price target for the stock from $75.00 to $90.00 in a research note on Thursday, January 30th. Morgan Stanley raised their price target on Edwards Lifesciences from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $85.00 price target on shares of Edwards Lifesciences in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $79.60.

Edwards Lifesciences Price Performance

Shares of EW stock opened at $76.14 on Thursday. The stock’s fifty day simple moving average is $72.60 and its 200 day simple moving average is $71.93. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89. The firm has a market cap of $44.66 billion, a price-to-earnings ratio of 10.92, a P/E/G ratio of 4.82 and a beta of 1.12. Edwards Lifesciences Co. has a one year low of $58.93 and a one year high of $95.25.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.04. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the firm posted $0.66 EPS. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. On average, analysts expect that Edwards Lifesciences Co. will post 2.45 earnings per share for the current fiscal year.

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.