Jacobs Levy Equity Management Inc. Has $243.75 Million Holdings in Edwards Lifesciences Co. (NYSE:EW)

Jacobs Levy Equity Management Inc. grew its position in Edwards Lifesciences Co. (NYSE:EW) by 239.9% in the third quarter, Holdings Channel reports. The fund owned 3,693,663 shares of the medical research company’s stock after acquiring an additional 2,606,950 shares during the quarter. Edwards Lifesciences accounts for 0.9% of Jacobs Levy Equity Management Inc.’s portfolio, making the stock its 16th largest holding. Jacobs Levy Equity Management Inc.’s holdings in Edwards Lifesciences were worth $243,745,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of EW. Centiva Capital LP bought a new stake in Edwards Lifesciences during the 3rd quarter valued at $295,000. Cinctive Capital Management LP purchased a new position in shares of Edwards Lifesciences in the third quarter worth approximately $3,693,000. Benjamin Edwards Inc. raised its position in shares of Edwards Lifesciences by 6,929.4% during the third quarter. Benjamin Edwards Inc. now owns 15,324 shares of the medical research company’s stock valued at $1,011,000 after buying an additional 15,106 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in Edwards Lifesciences in the third quarter worth $66,000. Finally, FSA Wealth Management LLC purchased a new stake in shares of Edwards Lifesciences during the third quarter valued at $30,000. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Edwards Lifesciences

In other news, insider Larry L. Wood sold 25,000 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $65.91, for a total value of $1,647,750.00. Following the completion of the sale, the insider now owns 198,526 shares in the company, valued at $13,084,848.66. This represents a 11.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $69.51, for a total value of $347,550.00. Following the completion of the transaction, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,262,521.36. The trade was a 9.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,000 shares of company stock worth $2,657,000 over the last three months. Insiders own 1.27% of the company’s stock.

Wall Street Analysts Forecast Growth

EW has been the topic of several recent research reports. Piper Sandler lowered their price objective on Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Truist Financial lowered their target price on Edwards Lifesciences from $71.00 to $70.00 and set a “hold” rating on the stock in a report on Friday, October 25th. Jefferies Financial Group downgraded Edwards Lifesciences from a “buy” rating to a “hold” rating and dropped their target price for the company from $85.00 to $70.00 in a report on Wednesday, September 18th. Citigroup reduced their price objective on Edwards Lifesciences from $83.00 to $77.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Finally, UBS Group decreased their target price on Edwards Lifesciences from $90.00 to $75.00 and set a “neutral” rating on the stock in a report on Tuesday, September 10th. Seventeen research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $77.25.

Edwards Lifesciences Stock Down 1.1 %

Edwards Lifesciences stock opened at $70.53 on Tuesday. Edwards Lifesciences Co. has a 1-year low of $58.93 and a 1-year high of $96.12. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $41.60 billion, a price-to-earnings ratio of 10.18, a P/E/G ratio of 4.01 and a beta of 1.12. The firm has a 50 day simple moving average of $68.10 and a 200 day simple moving average of $75.05.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share for the quarter, hitting the consensus estimate of $0.67. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same period last year, the firm earned $0.59 earnings per share. The company’s quarterly revenue was up 8.9% on a year-over-year basis. On average, analysts predict that Edwards Lifesciences Co. will post 2.57 earnings per share for the current 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.