Lecap Asset Management Ltd. Makes New Investment in Edwards Lifesciences Co. (NYSE:EW)

Lecap Asset Management Ltd. acquired a new position in shares of Edwards Lifesciences Co. (NYSE:EW) in the 3rd quarter, Holdings Channel reports. The fund acquired 61,831 shares of the medical research company’s stock, valued at approximately $4,080,000. Edwards Lifesciences makes up about 0.9% of Lecap Asset Management Ltd.’s portfolio, making the stock its 12th biggest holding.

Other large investors have also modified their holdings of the company. BLB&B Advisors LLC boosted its position in shares of Edwards Lifesciences by 9.7% in the 3rd quarter. BLB&B Advisors LLC now owns 4,520 shares of the medical research company’s stock valued at $298,000 after purchasing an additional 400 shares during the period. Eastern Bank purchased a new stake in Edwards Lifesciences in the third quarter valued at approximately $98,000. Telos Capital Management Inc. boosted its holdings in shares of Edwards Lifesciences by 1.6% in the third quarter. Telos Capital Management Inc. now owns 98,894 shares of the medical research company’s stock valued at $6,526,000 after acquiring an additional 1,519 shares during the period. Resonant Capital Advisors LLC grew its position in shares of Edwards Lifesciences by 6.3% during the third quarter. Resonant Capital Advisors LLC now owns 3,132 shares of the medical research company’s stock worth $207,000 after acquiring an additional 186 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Edwards Lifesciences by 59.4% in the 3rd quarter. Blue Trust Inc. now owns 8,049 shares of the medical research company’s stock valued at $531,000 after acquiring an additional 2,998 shares during the period. Institutional investors and hedge funds own 79.46% of the company’s stock.

Insider Buying and Selling at Edwards Lifesciences

In other news, VP Daveen Chopra sold 1,250 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total transaction of $87,437.50. Following the completion of the transaction, the vice president now directly owns 29,333 shares of the company’s stock, valued at $2,051,843.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP Daveen Chopra sold 1,250 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total transaction of $87,437.50. Following the sale, the vice president now owns 29,333 shares of the company’s stock, valued at $2,051,843.35. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $66.77, for a total transaction of $333,850.00. Following the completion of the transaction, the vice president now directly owns 46,936 shares of the company’s stock, valued at $3,133,916.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 16,250 shares of company stock worth $1,099,238. 1.29% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have issued reports on EW shares. Evercore ISI lowered their price objective on shares of Edwards Lifesciences from $76.00 to $70.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 1st. Stifel Nicolaus lowered their price target on Edwards Lifesciences from $85.00 to $70.00 and set a “hold” rating on the stock in a report on Thursday, July 25th. Truist Financial reduced their price objective on Edwards Lifesciences from $82.00 to $71.00 and set a “hold” rating for the company in a research note on Friday, September 13th. Deutsche Bank Aktiengesellschaft lowered their target price on Edwards Lifesciences from $103.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Finally, Royal Bank of Canada dropped their target price on Edwards Lifesciences from $85.00 to $75.00 and set an “outperform” rating on the stock in a report on Tuesday, October 8th. Fifteen research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $75.81.

Edwards Lifesciences Stock Performance

NYSE EW opened at $69.24 on Wednesday. The business has a 50 day moving average price of $67.96 and a 200 day moving average price of $78.76. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.71 and a quick ratio of 2.87. The company has a market capitalization of $41.72 billion, a P/E ratio of 29.84, a PEG ratio of 2.83 and a beta of 1.13. Edwards Lifesciences Co. has a 1-year low of $58.93 and a 1-year high of $96.12.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter last year, the business posted $0.66 earnings per share. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. Sell-side analysts expect that Edwards Lifesciences Co. will post 2.71 EPS for the current fiscal year.

Edwards Lifesciences Company 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.