Worldquant Millennium Advisors LLC Makes New $39.63 Million Investment in Edwards Lifesciences Co. (NYSE:EW)

Worldquant Millennium Advisors LLC acquired a new stake in Edwards Lifesciences Co. (NYSE:EW) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 600,517 shares of the medical research company’s stock, valued at approximately $39,628,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Lantz Financial LLC boosted its holdings in Edwards Lifesciences by 25.3% in the second quarter. Lantz Financial LLC now owns 3,236 shares of the medical research company’s stock valued at $299,000 after purchasing an additional 654 shares during the last quarter. Valeo Financial Advisors LLC boosted its stake in shares of Edwards Lifesciences by 7.4% in the second quarter. Valeo Financial Advisors LLC now owns 5,133 shares of the medical research company’s stock worth $474,000 after buying an additional 354 shares during the last quarter. Webster Bank N. A. acquired a new stake in Edwards Lifesciences during the second quarter worth about $39,000. QRG Capital Management Inc. raised its position in Edwards Lifesciences by 4.3% during the second quarter. QRG Capital Management Inc. now owns 46,353 shares of the medical research company’s stock valued at $4,282,000 after acquiring an additional 1,898 shares in the last quarter. Finally, Opal Wealth Advisors LLC purchased a new position in Edwards Lifesciences during the second quarter valued at approximately $137,000. Institutional investors and hedge funds own 79.46% of the company’s stock.

Insider Buying and Selling at Edwards Lifesciences

In other Edwards Lifesciences news, insider Larry L. Wood sold 25,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 198,526 shares of the company’s stock, valued at $13,084,848.66. This represents a 11.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $69.51, for a total transaction of $347,550.00. Following the sale, the vice president now owns 46,936 shares of the company’s stock, valued at approximately $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. Insiders have sold 40,000 shares of company stock worth $2,657,000 in the last ninety days. 1.29% of the stock is owned by insiders.

Edwards Lifesciences Trading Down 2.4 %

EW opened at $72.43 on Friday. Edwards Lifesciences Co. has a 1-year low of $58.93 and a 1-year high of $96.12. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89. The firm has a market capitalization of $42.72 billion, a price-to-earnings ratio of 10.45, a price-to-earnings-growth ratio of 3.95 and a beta of 1.12. The company’s 50 day simple moving average is $68.55 and its two-hundred day simple moving average is $74.76.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results 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 return on equity of 20.76% and a net margin of 70.82%. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the previous year, the firm earned $0.59 EPS. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. Analysts expect that Edwards Lifesciences Co. will post 2.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on EW. The Goldman Sachs Group raised their price objective on shares of Edwards Lifesciences from $81.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday. Canaccord Genuity Group raised their price target on shares of Edwards Lifesciences from $63.00 to $68.00 and gave the company a “hold” rating in a research report on Thursday. Royal Bank of Canada upped their price objective on shares of Edwards Lifesciences from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday. Oppenheimer reissued an “outperform” rating and set a $90.00 target price on shares of Edwards Lifesciences in a research note on Thursday, September 12th. Finally, Piper Sandler cut their price target on Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Seventeen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $78.35.

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.