Smithbridge Asset Management Inc. DE Acquires 2,202 Shares of Edwards Lifesciences Co. (NYSE:EW)

Smithbridge Asset Management Inc. DE boosted its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 20.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 13,086 shares of the medical research company’s stock after acquiring an additional 2,202 shares during the period. Smithbridge Asset Management Inc. DE’s holdings in Edwards Lifesciences were worth $864,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in EW. Allspring Global Investments Holdings LLC boosted its position in shares of Edwards Lifesciences by 4.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 330,711 shares of the medical research company’s stock valued at $31,603,000 after buying an additional 14,087 shares during the last quarter. Empowered Funds LLC boosted its holdings in Edwards Lifesciences by 151.2% during the 1st quarter. Empowered Funds LLC now owns 20,123 shares of the medical research company’s stock worth $1,923,000 after acquiring an additional 12,112 shares during the last quarter. Cetera Advisors LLC grew its stake in shares of Edwards Lifesciences by 175.1% in the 1st quarter. Cetera Advisors LLC now owns 38,090 shares of the medical research company’s stock worth $3,640,000 after acquiring an additional 24,242 shares in the last quarter. Financial Sense Advisors Inc. purchased a new stake in shares of Edwards Lifesciences in the first quarter valued at about $975,000. Finally, BDF Gestion bought a new position in shares of Edwards Lifesciences during the second quarter valued at about $5,148,000. 79.46% of the stock is owned by institutional investors.

Edwards Lifesciences Stock Up 3.3 %

Shares of NYSE:EW traded up $2.31 during midday trading on Monday, reaching $71.69. The company’s stock had a trading volume of 491,482 shares, compared to its average volume of 4,574,260. The firm has a 50 day moving average of $68.09 and a 200-day moving average of $78.30. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $96.12. The firm has a market capitalization of $43.19 billion, a P/E ratio of 28.55, a PEG ratio of 3.00 and a beta of 1.13. The company has a quick ratio of 2.87, a current ratio of 3.71 and a debt-to-equity ratio of 0.08.

Edwards Lifesciences (NYSE:EW) last posted its earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.67. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.59 EPS. On average, research analysts anticipate that Edwards Lifesciences Co. will post 2.61 earnings per share for the current year.

Insider Activity at Edwards Lifesciences

In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total value of $330,400.00. Following the sale, the vice president now owns 46,936 shares of the company’s stock, valued at approximately $3,101,530.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Edwards Lifesciences news, VP Daveen Chopra sold 1,250 shares of the company’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 transaction, the vice president now owns 29,333 shares in the company, valued at approximately $2,051,843.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $66.08, for a total value of $330,400.00. Following the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at $3,101,530.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,250 shares of company stock valued at $1,099,238. 1.29% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on EW shares. Oppenheimer reaffirmed an “outperform” rating and issued a $90.00 price objective on shares of Edwards Lifesciences in a research report on Thursday, September 12th. Piper Sandler reduced their target price on Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating for the company in a report on Friday. Royal Bank of Canada dropped their price target on Edwards Lifesciences from $85.00 to $75.00 and set an “outperform” rating on the stock in a report on Tuesday, October 8th. UBS Group reduced their price objective on Edwards Lifesciences from $90.00 to $75.00 and set a “neutral” rating for the company in a research note on Tuesday, September 10th. Finally, Jefferies Financial Group cut Edwards Lifesciences from a “buy” rating to a “hold” rating and lowered their target price for the stock from $85.00 to $70.00 in a research note on Wednesday, September 18th. Fifteen research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $75.67.

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.