Larson Financial Group LLC Increases Position in Edwards Lifesciences Co. (NYSE:EW)

Larson Financial Group LLC increased its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 199.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,391 shares of the medical research company’s stock after purchasing an additional 2,923 shares during the period. Larson Financial Group LLC’s holdings in Edwards Lifesciences were worth $290,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EW. Kennedy Capital Management LLC purchased a new position in Edwards Lifesciences during the 1st quarter worth $2,440,000. B. Riley Wealth Advisors Inc. grew its stake in Edwards Lifesciences by 80.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 21,065 shares of the medical research company’s stock worth $2,013,000 after buying an additional 9,390 shares during the last quarter. Tidal Investments LLC grew its stake in Edwards Lifesciences by 54.7% during the 1st quarter. Tidal Investments LLC now owns 30,245 shares of the medical research company’s stock worth $2,890,000 after buying an additional 10,700 shares during the last quarter. Plato Investment Management Ltd grew its stake in Edwards Lifesciences by 982.2% during the 1st quarter. Plato Investment Management Ltd now owns 7,521 shares of the medical research company’s stock worth $719,000 after buying an additional 6,826 shares during the last quarter. Finally, Sanibel Captiva Trust Company Inc. grew its stake in Edwards Lifesciences by 3.7% during the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 8,046 shares of the medical research company’s stock worth $769,000 after buying an additional 286 shares during the last quarter. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on EW shares. JPMorgan Chase & Co. boosted their target price on Edwards Lifesciences from $72.00 to $78.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Robert W. Baird dropped their price target on Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Evercore ISI dropped their price target on Edwards Lifesciences from $76.00 to $70.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 1st. Royal Bank of Canada boosted their price target on Edwards Lifesciences from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Truist Financial dropped their price target on Edwards Lifesciences from $71.00 to $70.00 and set a “hold” rating on the stock in a research note on Friday, October 25th. Seventeen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Edwards Lifesciences currently has an average rating of “Hold” and an average target price of $75.90.

Insider Activity

In related news, insider Larry L. Wood sold 25,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $65.91, for a total value of $1,647,750.00. Following the completion of the transaction, the insider now directly owns 198,526 shares in the company, valued at approximately $13,084,848.66. This represents a 11.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $69.51, for a total value of $347,550.00. Following the completion of the transaction, the vice president now owns 46,936 shares of the company’s stock, valued at $3,262,521.36. The trade was a 9.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,000 shares of company stock worth $2,657,000 over the last ninety days. Corporate insiders own 1.27% of the company’s stock.

Edwards Lifesciences Price Performance

NYSE:EW opened at $72.06 on Thursday. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. The stock has a 50 day moving average of $67.92 and a two-hundred day moving average of $75.35. The firm has a market cap of $42.50 billion, a P/E ratio of 10.40, a price-to-earnings-growth ratio of 4.01 and a beta of 1.12. Edwards Lifesciences Co. has a 12 month low of $58.93 and a 12 month high of $96.12.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.67. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.57 billion. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. The business’s revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.59 earnings per share. On average, analysts expect that Edwards Lifesciences Co. will post 2.57 earnings per share for the current fiscal 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.