NS Partners Ltd lessened its holdings in shares of Edwards Lifesciences Corporation (NYSE:EW – Free Report) by 32.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 130,801 shares of the medical research company’s stock after selling 62,432 shares during the quarter. NS Partners Ltd’s holdings in Edwards Lifesciences were worth $11,832,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Hanson & Doremus Investment Management purchased a new stake in Edwards Lifesciences during the first quarter worth approximately $25,000. JPL Wealth Management LLC purchased a new position in shares of Edwards Lifesciences in the 3rd quarter valued at $25,000. MV Capital Management Inc. acquired a new position in shares of Edwards Lifesciences during the 4th quarter valued at $26,000. RMG Wealth Management LLC acquired a new stake in Edwards Lifesciences in the 1st quarter valued at $26,000. Finally, Pin Oak Investment Advisors Inc. purchased a new position in Edwards Lifesciences in the second quarter valued at about $26,000. Hedge funds and other institutional investors own 79.46% of the company’s stock.
Edwards Lifesciences Stock Up 0.7%
EW stock opened at $90.86 on Tuesday. The company has a current ratio of 4.52, a quick ratio of 3.77 and a debt-to-equity ratio of 0.06. The firm has a 50 day simple moving average of $89.64 and a 200-day simple moving average of $85.18. The company has a market capitalization of $52.32 billion, a P/E ratio of 52.22, a PEG ratio of 2.37 and a beta of 0.85. Edwards Lifesciences Corporation has a twelve month low of $72.30 and a twelve month high of $96.29.
Insider Buying and Selling
In related news, SVP Andrew M. Dahl sold 544 shares of the firm’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $91.06, for a total transaction of $49,536.64. Following the transaction, the senior vice president directly owned 14,868 shares in the company, valued at $1,353,880.08. This trade represents a 3.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Annette Bruls sold 2,644 shares of the business’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $89.98, for a total transaction of $237,907.12. Following the sale, the vice president owned 17,984 shares of the company’s stock, valued at approximately $1,618,200.32. The trade was a 12.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 5,045 shares of company stock worth $457,749. Corporate insiders own 0.31% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on EW shares. UBS Group started coverage on Edwards Lifesciences in a research note on Tuesday, July 28th. They issued a “buy” rating and a $110.00 target price for the company. JPMorgan Chase & Co. lifted their price objective on shares of Edwards Lifesciences from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Leerink Partners raised shares of Edwards Lifesciences from a “market perform” rating to an “outperform” rating and raised their price target for the company from $87.00 to $101.00 in a report on Friday, July 24th. Truist Financial lifted their price target on shares of Edwards Lifesciences from $90.00 to $95.00 and gave the stock a “hold” rating in a research note on Thursday, July 16th. Finally, Evercore reiterated an “outperform” rating and issued a $100.00 price objective on shares of Edwards Lifesciences in a report on Monday, July 6th. Seventeen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $100.27.
Read Our Latest Stock Analysis on EW
About Edwards Lifesciences
Edwards Lifesciences is a medical technology company focused on products and therapies for structural heart disease and critical care monitoring. The company designs, develops and manufactures prosthetic heart valves and related delivery systems used in both surgical and minimally invasive (transcatheter) procedures. Its portfolio addresses a range of valvular conditions, with an emphasis on technologies that enable transcatheter aortic valve replacement (TAVR) as an alternative to open-heart surgery.
In addition to transcatheter heart valves—including the widely recognized SAPIEN family—Edwards offers surgical tissue valves and ancillary devices used by cardiac surgeons, interventional cardiologists and hospital teams.
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