Everhart Financial Group Inc. Buys New Stake in Edwards Lifesciences Co. (NYSE:EW)

Everhart Financial Group Inc. purchased a new position in shares of Edwards Lifesciences Co. (NYSE:EW) in the 2nd quarter, Holdings Channel reports. The firm purchased 2,710 shares of the medical research company’s stock, valued at approximately $250,000.

Several other hedge funds also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Edwards Lifesciences during the fourth quarter valued at $648,540,000. Brown Advisory Inc. grew its holdings in shares of Edwards Lifesciences by 20.1% during the fourth quarter. Brown Advisory Inc. now owns 18,181,420 shares of the medical research company’s stock worth $1,386,333,000 after buying an additional 3,048,274 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Edwards Lifesciences by 57.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,516,260 shares of the medical research company’s stock valued at $622,695,000 after buying an additional 2,390,137 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake in shares of Edwards Lifesciences by 197.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 3,446,758 shares of the medical research company’s stock valued at $262,815,000 after buying an additional 2,286,119 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Edwards Lifesciences by 9.5% during the first quarter. Bank of New York Mellon Corp now owns 18,973,304 shares of the medical research company’s stock worth $1,813,089,000 after acquiring an additional 1,644,869 shares during the last quarter. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Stock Down 0.6 %

Edwards Lifesciences stock traded down $0.45 during midday trading on Friday, hitting $70.85. 3,706,630 shares of the company were exchanged, compared to its average volume of 4,083,428. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.71 and a quick ratio of 2.87. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $96.12. The company’s fifty day moving average price is $79.04 and its 200-day moving average price is $85.39. The company has a market cap of $42.69 billion, a PE ratio of 30.54, a price-to-earnings-growth ratio of 2.57 and a beta of 1.11.

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

Insider Buying and Selling at Edwards Lifesciences

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $87.54, for a total transaction of $437,700.00. Following the completion of the sale, the vice president now owns 46,936 shares in the company, valued at approximately $4,108,777.44. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $87.54, for a total transaction of $437,700.00. Following the transaction, the vice president now directly owns 46,936 shares in the company, valued at approximately $4,108,777.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Daveen Chopra sold 1,250 shares of the firm’s 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 transaction, the vice president now directly owns 29,333 shares of the company’s stock, valued at $2,051,843.35. The disclosure for this sale can be found here. Insiders sold a total of 24,867 shares of company stock valued at $2,077,526 in the last ninety days. Insiders own 1.29% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on EW shares. Truist Financial lowered Edwards Lifesciences from a “buy” rating to a “hold” rating and reduced their price target for the stock from $110.00 to $82.00 in a research note on Thursday, July 25th. Barclays lowered their price target on Edwards Lifesciences from $101.00 to $90.00 and set an “overweight” rating for the company in a report on Friday, July 26th. Bank of America cut shares of Edwards Lifesciences from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $105.00 to $75.00 in a research report on Thursday, July 25th. Wells Fargo & Company dropped their price target on shares of Edwards Lifesciences from $99.00 to $90.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Finally, Canaccord Genuity Group cut their price target on shares of Edwards Lifesciences from $85.00 to $77.00 and set a “hold” rating on the stock in a research note on Thursday, July 25th. Fourteen research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Edwards Lifesciences presently has an average rating of “Moderate Buy” and an average target price of $82.10.

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.