LRI Investments LLC Has $64,000 Holdings in Edwards Lifesciences Co. (NYSE:EW)

LRI Investments LLC raised its stake in Edwards Lifesciences Co. (NYSE:EW) by 405.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 697 shares of the medical research company’s stock after buying an additional 559 shares during the quarter. LRI Investments LLC’s holdings in Edwards Lifesciences were worth $64,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its stake in Edwards Lifesciences by 4.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 330,711 shares of the medical research company’s stock worth $31,603,000 after buying an additional 14,087 shares during the period. Empowered Funds LLC raised its position in shares of Edwards Lifesciences by 151.2% during the first quarter. Empowered Funds LLC now owns 20,123 shares of the medical research company’s stock worth $1,923,000 after purchasing an additional 12,112 shares during the period. Cetera Advisors LLC lifted its holdings in shares of Edwards Lifesciences by 175.1% during the 1st quarter. Cetera Advisors LLC now owns 38,090 shares of the medical research company’s stock valued at $3,640,000 after purchasing an additional 24,242 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of Edwards Lifesciences by 95.1% during the 4th quarter. TD Asset Management Inc now owns 1,323,611 shares of the medical research company’s stock valued at $100,925,000 after purchasing an additional 645,204 shares in the last quarter. Finally, Sei Investments Co. increased its stake in Edwards Lifesciences by 10.8% during the 4th quarter. Sei Investments Co. now owns 558,031 shares of the medical research company’s stock worth $42,550,000 after purchasing an additional 54,595 shares in the last quarter. Institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Stock Performance

NYSE:EW traded down $0.42 during mid-day trading on Friday, reaching $70.88. 3,707,599 shares of the company’s stock were exchanged, compared to its average volume of 4,083,428. Edwards Lifesciences Co. has a one year low of $58.93 and a one year high of $96.12. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.87 and a current ratio of 3.71. The business’s fifty day simple moving average is $79.04 and its two-hundred day simple moving average is $85.39. The firm has a market capitalization of $42.71 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 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period last year, the firm earned $0.66 earnings per share. Analysts anticipate that Edwards Lifesciences Co. will post 2.71 earnings per share for the current fiscal year.

Insider Activity

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $66.08, for a total transaction of $330,400.00. Following the completion of the sale, the vice president now directly owns 46,936 shares in the company, valued at $3,101,530.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $66.08, for a total value of $330,400.00. Following the completion of the transaction, the vice president now owns 46,936 shares of the company’s stock, valued at $3,101,530.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Bernard J. Zovighian sold 8,617 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $87.68, for a total value of $755,538.56. Following the transaction, the chief executive officer now owns 68,218 shares of the company’s stock, valued at $5,981,354.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,867 shares of company stock worth $2,077,526. 1.29% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Robert W. Baird lowered shares of Edwards Lifesciences from an “outperform” rating to a “neutral” rating and cut their price target for the company from $102.00 to $70.00 in a research note on Thursday, July 25th. TD Cowen downgraded Edwards Lifesciences from a “buy” rating to a “hold” rating and dropped their price target for the company from $100.00 to $70.00 in a research note on Thursday, July 25th. JPMorgan Chase & Co. cut Edwards Lifesciences from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $105.00 to $72.00 in a research report on Thursday, July 25th. Canaccord Genuity Group dropped their target price on Edwards Lifesciences from $85.00 to $77.00 and set a “hold” rating on the stock in a research report on Thursday, July 25th. Finally, Barclays reduced their price target on Edwards Lifesciences from $101.00 to $90.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. Fourteen analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $82.10.

Edwards Lifesciences 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.