Tritonpoint Wealth LLC Has $317,000 Stock Position in Edwards Lifesciences Co. (NYSE:EW)

Tritonpoint Wealth LLC lifted its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 11.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,378 shares of the medical research company’s stock after purchasing an additional 441 shares during the quarter. Tritonpoint Wealth LLC’s holdings in Edwards Lifesciences were worth $317,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Prosperity Consulting Group LLC grew 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 buying an additional 134 shares during the last quarter. Abacus Planning Group Inc. grew 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 buying an additional 140 shares during the last quarter. Versant Capital Management Inc grew its stake in Edwards Lifesciences by 9.3% in the 1st quarter. Versant Capital Management Inc now owns 1,698 shares of the medical research company’s stock valued at $123,000 after buying an additional 145 shares during the last quarter. Kera Capital Partners Inc. grew its stake in Edwards Lifesciences by 5.0% in the 1st quarter. Kera Capital Partners Inc. now owns 3,090 shares of the medical research company’s stock valued at $224,000 after buying an additional 148 shares during the last quarter. Finally, Moors & Cabot Inc. grew 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 buying an additional 152 shares during the last quarter. Institutional investors and hedge funds own 79.46% of the company’s stock.

Insider Buying and Selling at Edwards Lifesciences

In other news, CEO Bernard J. Zovighian sold 5,980 shares of Edwards Lifesciences stock in a transaction that occurred 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 in the company, valued at $4,366,054.44. The trade was a 9.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Scott B. Ullem sold 11,250 shares of Edwards Lifesciences stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $70.87, for a total transaction of $797,287.50. Following the sale, the chief financial officer now owns 30,387 shares of the company’s stock, valued at approximately $2,153,526.69. This represents a 27.02% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,948 shares of company stock worth $3,122,845. 1.29% of the stock is currently owned by corporate insiders.

Edwards Lifesciences Trading Down 1.0%

Shares of EW stock opened at $75.12 on Friday. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $95.25. The company has a market capitalization of $44.06 billion, a P/E ratio of 10.78, a P/E/G ratio of 4.82 and a beta of 1.12. The firm has a 50-day moving average price of $74.54 and a 200 day moving average price of $72.93. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06.

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. Research analysts forecast that Edwards Lifesciences Co. will post 2.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on EW shares. Canaccord Genuity Group raised their target price on shares of Edwards Lifesciences from $71.00 to $75.00 and gave the company a “hold” rating in a research note on Friday, April 25th. Robert W. Baird raised their price target on shares of Edwards Lifesciences from $72.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, April 24th. Wall Street Zen lowered shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a research report on Friday, May 16th. Truist Financial decreased their price target on shares of Edwards Lifesciences from $78.00 to $75.00 and set a “hold” rating on the stock in a research report on Friday, April 11th. Finally, Dbs Bank upgraded shares of Edwards Lifesciences to a “hold” rating in a research report on Monday, June 2nd. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $80.20.

Edwards Lifesciences Profile

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.