Empowered Funds LLC Increases Holdings in Edwards Lifesciences Co. (NYSE:EW)

Empowered Funds LLC boosted its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 10.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,032 shares of the medical research company’s stock after acquiring an additional 2,324 shares during the quarter. Empowered Funds LLC’s holdings in Edwards Lifesciences were worth $1,586,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Crewe Advisors LLC bought a new stake in Edwards Lifesciences in the first quarter worth $28,000. First Community Trust NA purchased a new position in shares of Edwards Lifesciences during the 2nd quarter worth about $29,000. Webster Bank N. A. purchased a new stake in Edwards Lifesciences in the 2nd quarter worth about $39,000. Peoples Bank KS bought a new stake in Edwards Lifesciences in the third quarter worth about $40,000. Finally, Versant Capital Management Inc boosted its position in shares of Edwards Lifesciences by 206.3% during the second quarter. Versant Capital Management Inc now owns 484 shares of the medical research company’s stock valued at $45,000 after buying an additional 326 shares during the period. 79.46% of the stock is owned by institutional investors.

Edwards Lifesciences Stock Performance

Shares of Edwards Lifesciences stock opened at $70.56 on Friday. The company has a 50 day moving average price of $67.66 and a 200 day moving average price of $75.83. The firm has a market capitalization of $41.61 billion, a P/E ratio of 10.18, a PEG ratio of 3.95 and a beta of 1.12. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06. Edwards Lifesciences Co. has a 52 week low of $58.93 and a 52 week high of $96.12.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data on Thursday, October 24th. The medical research company reported $0.67 EPS 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 during the quarter, compared to the consensus estimate of $1.57 billion. During the same period in the previous year, the firm posted $0.59 earnings per share. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. Sell-side analysts expect that Edwards Lifesciences Co. will post 2.57 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. StockNews.com cut Edwards Lifesciences from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $70.00 price target on shares of Edwards Lifesciences in a research note on Friday, October 11th. Piper Sandler dropped their target price on shares of Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Robert W. Baird lowered their price target on Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Finally, TD Cowen downgraded Edwards Lifesciences from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $100.00 to $70.00 in a report on Thursday, July 25th. Seventeen analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $75.67.

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 shares were sold at an average price of $65.91, for a total value of $1,647,750.00. Following 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $69.51, for a total transaction of $347,550.00. Following the transaction, the vice president now owns 46,936 shares of the company’s stock, valued at $3,262,521.36. This represents a 9.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,000 shares of company stock worth $2,657,000. 1.29% of the stock is currently owned by insiders.

About Edwards Lifesciences

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.