Lee Danner & Bass Inc. Invests $543,000 in Edwards Lifesciences Co. (NYSE:EW)

Lee Danner & Bass Inc. acquired a new stake in shares of Edwards Lifesciences Co. (NYSE:EW) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 5,876 shares of the medical research company’s stock, valued at approximately $543,000.

Other large investors have also recently added to or reduced their stakes in the company. DSM Capital Partners LLC acquired a new position in Edwards Lifesciences in the fourth quarter worth approximately $28,000. Crewe Advisors LLC bought a new stake in Edwards Lifesciences in the first quarter worth approximately $28,000. First Community Trust NA acquired a new position in shares of Edwards Lifesciences during the 2nd quarter worth $29,000. Riverview Trust Co bought a new position in shares of Edwards Lifesciences during the 1st quarter valued at $34,000. Finally, Pingora Partners LLC acquired a new stake in shares of Edwards Lifesciences in the 4th quarter valued at $38,000. Institutional investors and hedge funds own 79.46% of the company’s stock.

Insider Activity

In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $93.29, for a total value of $466,450.00. Following the sale, the vice president now owns 46,936 shares of the company’s stock, valued at approximately $4,378,659.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, VP Daveen Chopra sold 1,250 shares of the 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 sale, the vice president now owns 29,333 shares in the company, valued at $2,051,843.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $93.29, for a total value of $466,450.00. Following the completion of the transaction, the vice president now directly owns 46,936 shares of the company’s stock, valued at $4,378,659.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,250 shares of company stock worth $1,321,988. Company insiders own 1.29% of the company’s stock.

Analyst Upgrades and Downgrades

EW has been the topic of several analyst reports. Wells Fargo & Company lowered their target price on shares of Edwards Lifesciences from $99.00 to $90.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Oppenheimer reduced their target price on Edwards Lifesciences from $100.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Canaccord Genuity Group decreased their target price on Edwards Lifesciences from $85.00 to $77.00 and set a “hold” rating for the company in a research report on Thursday, July 25th. Stifel Nicolaus dropped their price target on shares of Edwards Lifesciences from $85.00 to $70.00 and set a “hold” rating on the stock in a research report on Thursday, July 25th. Finally, Truist Financial downgraded shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $110.00 to $82.00 in a report on Thursday, July 25th. Fourteen research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $82.10.

Edwards Lifesciences Stock Down 0.2 %

Shares of EW stock opened at $69.96 on Friday. The stock has a market cap of $42.16 billion, a P/E ratio of 30.16, a price-to-earnings-growth ratio of 2.57 and a beta of 1.11. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.71 and a quick ratio of 2.87. The stock has a fifty day moving average price of $77.53 and a 200 day moving average price of $84.91. Edwards Lifesciences Co. has a one year low of $58.93 and a one year high of $96.12.

Edwards Lifesciences (NYSE:EW) last issued 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. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the previous year, the business earned $0.66 EPS. The firm’s revenue was up 6.7% on a year-over-year basis. Analysts predict that Edwards Lifesciences Co. will post 2.71 earnings per share for the current year.

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.