Burney Co. grew its holdings in shares of Edwards Lifesciences Corporation (NYSE:EW – Free Report) by 12.7% during the first quarter, Holdings Channel.com reports. The institutional investor owned 47,239 shares of the medical research company’s stock after purchasing an additional 5,337 shares during the quarter. Burney Co.’s holdings in Edwards Lifesciences were worth $3,783,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the stock. Brighton Jones LLC bought a new stake in shares of Edwards Lifesciences in the 4th quarter valued at $266,000. NewEdge Advisors LLC boosted its stake in Edwards Lifesciences by 8.1% during the second quarter. NewEdge Advisors LLC now owns 35,637 shares of the medical research company’s stock worth $2,787,000 after acquiring an additional 2,665 shares in the last quarter. Sei Investments Co. increased its stake in Edwards Lifesciences by 16.7% in the second quarter. Sei Investments Co. now owns 412,808 shares of the medical research company’s stock valued at $32,285,000 after purchasing an additional 58,988 shares in the last quarter. Squarepoint Ops LLC increased its stake in Edwards Lifesciences by 277.7% in the second quarter. Squarepoint Ops LLC now owns 69,263 shares of the medical research company’s stock valued at $5,417,000 after purchasing an additional 50,924 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its holdings in shares of Edwards Lifesciences by 0.4% during the second quarter. Treasurer of the State of North Carolina now owns 268,860 shares of the medical research company’s stock valued at $21,028,000 after purchasing an additional 1,065 shares during the period. Institutional investors and hedge funds own 79.46% of the company’s stock.
Edwards Lifesciences Stock Down 0.4%
EW stock opened at $94.79 on Wednesday. The firm has a market capitalization of $54.58 billion, a PE ratio of 50.42, a P/E/G ratio of 2.39 and a beta of 0.86. The company has a quick ratio of 3.63, a current ratio of 4.42 and a debt-to-equity ratio of 0.06. Edwards Lifesciences Corporation has a twelve month low of $72.30 and a twelve month high of $96.29. The stock’s 50 day moving average is $86.13 and its 200-day moving average is $83.71.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on EW. BTIG Research raised 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. Barclays reaffirmed an “overweight” rating and set a $110.00 price target (up from $104.00) on shares of Edwards Lifesciences in a research note on Monday, April 27th. Wolfe Research upgraded Edwards Lifesciences from a “peer perform” rating to an “outperform” rating and set a $92.00 price target on the stock in a report on Wednesday, April 1st. Robert W. Baird raised their price objective on Edwards Lifesciences from $85.00 to $87.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Finally, Evercore restated an “outperform” rating and set a $100.00 price objective on shares of Edwards Lifesciences in a report on Monday. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, Edwards Lifesciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.70.
Insider Activity
In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 23,145 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $86.42, for a total value of $2,000,190.90. Following the completion of the sale, the vice president directly owned 98,611 shares of the company’s stock, valued at approximately $8,521,962.62. This represents a 19.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Andrew M. Dahl sold 568 shares of the stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $86.08, for a total transaction of $48,893.44. Following the completion of the sale, the senior vice president 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 position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 57,958 shares of company stock worth $4,839,284. Company insiders own 0.31% of the company’s stock.
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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