Alpine Bank Wealth Management Makes New $80,000 Investment in Edwards Lifesciences Corporation (NYSE:EW)

Alpine Bank Wealth Management acquired a new stake in shares of Edwards Lifesciences Corporation (NYSE:EW) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 1,098 shares of the medical research company’s stock, valued at approximately $80,000.

A number of other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in Edwards Lifesciences during the fourth quarter valued at approximately $610,895,000. Vanguard Group Inc. boosted its position in shares of Edwards Lifesciences by 10.4% during the 4th quarter. Vanguard Group Inc. now owns 69,132,036 shares of the medical research company’s stock valued at $5,117,845,000 after acquiring an additional 6,537,494 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Edwards Lifesciences in the fourth quarter valued at $213,844,000. Marshall Wace LLP grew its holdings in shares of Edwards Lifesciences by 55.7% in the fourth quarter. Marshall Wace LLP now owns 5,813,419 shares of the medical research company’s stock valued at $430,367,000 after purchasing an additional 2,079,642 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in Edwards Lifesciences by 5.3% in the fourth quarter. Wellington Management Group LLP now owns 33,210,879 shares of the medical research company’s stock worth $2,458,601,000 after purchasing an additional 1,678,154 shares during the last quarter. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Price Performance

Shares of EW stock opened at $76.95 on Thursday. The company has a market capitalization of $45.14 billion, a P/E ratio of 10.99, a P/E/G ratio of 3.82 and a beta of 1.12. The company’s 50-day simple moving average is $75.38 and its two-hundred day simple moving average is $73.08. Edwards Lifesciences Corporation has a one year low of $58.93 and a one year high of $95.25. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.45 and a quick ratio of 3.66.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.04. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.40 billion. Edwards Lifesciences had a return on equity of 16.62% and a net margin of 75.48%. Edwards Lifesciences’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.66 earnings per share. As a group, equities analysts anticipate that Edwards Lifesciences Corporation will post 2.45 EPS for the current year.

Analysts Set New Price Targets

Several research firms have commented on EW. Robert W. Baird increased their price objective on shares of Edwards Lifesciences from $72.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, April 24th. Wall Street Zen downgraded shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a report on Friday, May 16th. Canaccord Genuity Group lifted their price target on Edwards Lifesciences from $71.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday, April 25th. Truist Financial reduced their price objective on Edwards Lifesciences from $78.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, April 11th. Finally, Piper Sandler raised their price objective on Edwards Lifesciences from $80.00 to $83.00 and gave the company an “overweight” rating in a research note on Tuesday, May 13th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $80.20.

Insider Transactions at Edwards Lifesciences

In other news, CFO Scott B. Ullem sold 11,250 shares of the company’s stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $74.40, for a total value of $837,000.00. Following the completion of the sale, the chief financial officer now owns 41,098 shares of the company’s stock, valued at approximately $3,057,691.20. This represents a 21.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Larry L. Wood sold 8,950 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $75.23, for a total transaction of $673,308.50. Following the transaction, the insider now owns 206,900 shares in the company, valued at approximately $15,565,087. This represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,648 shares of company stock valued at $2,998,866. 1.29% of the stock is currently owned by corporate insiders.

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.