LRI Investments LLC Increases Stock Position in Edwards Lifesciences Co. (NYSE:EW)

LRI Investments LLC boosted its holdings in Edwards Lifesciences Co. (NYSE:EW) by 1,902.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,956 shares of the medical research company’s stock after buying an additional 13,259 shares during the period. LRI Investments LLC’s holdings in Edwards Lifesciences were worth $921,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FSA Wealth Management LLC bought a new position in shares of Edwards Lifesciences in the third quarter valued at approximately $30,000. Prospera Private Wealth LLC purchased a new stake in Edwards Lifesciences in the third quarter worth approximately $32,000. Avior Wealth Management LLC raised its stake in shares of Edwards Lifesciences by 138.7% during the third quarter. Avior Wealth Management LLC now owns 530 shares of the medical research company’s stock worth $35,000 after acquiring an additional 308 shares in the last quarter. HHM Wealth Advisors LLC purchased a new stake in Edwards Lifesciences during the second quarter valued at about $55,000. Finally, Peoples Bank KS purchased a new stake in Edwards Lifesciences during the third quarter valued at about $40,000. Institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Stock Performance

NYSE EW opened at $71.53 on Monday. The company has a market cap of $42.19 billion, a P/E ratio of 10.32, a P/E/G ratio of 3.52 and a beta of 1.12. The business’s 50 day moving average price is $68.65 and its 200-day moving average price is $74.41. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $96.12. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data on Thursday, October 24th. The medical research company reported $0.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.67. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.57 billion. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.59 EPS. Sell-side analysts predict that Edwards Lifesciences Co. will post 2.56 earnings per share for the current year.

Insider Buying and Selling at Edwards Lifesciences

In other Edwards Lifesciences news, insider Larry L. Wood sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $65.91, for a total transaction of $1,647,750.00. Following the sale, the insider now owns 198,526 shares of the company’s stock, valued at approximately $13,084,848.66. The trade was a 11.18 % decrease in their position. 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 Edwards Lifesciences stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $66.77, for a total value of $333,850.00. Following the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,133,916.72. This represents a 9.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 40,000 shares of company stock valued at $2,657,000 in the last ninety days. Corporate insiders own 1.27% of the company’s stock.

Analyst Upgrades and Downgrades

EW has been the topic of several recent analyst reports. Truist Financial restated a “hold” rating and issued a $78.00 target price (up previously from $70.00) on shares of Edwards Lifesciences in a report on Thursday. Morgan Stanley reaffirmed an “equal weight” rating and set a $70.00 price objective on shares of Edwards Lifesciences in a research note on Friday, October 11th. Evercore ISI lowered their price target on Edwards Lifesciences from $76.00 to $70.00 and set an “in-line” rating for the company in a research report on Tuesday, October 1st. Robert W. Baird reduced their target price on Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Finally, Piper Sandler cut their price target on shares of Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Seventeen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $78.35.

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.