Eastern Bank Takes Position in Edwards Lifesciences Co. (NYSE:EW)

Eastern Bank bought a new stake in Edwards Lifesciences Co. (NYSE:EW) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,481 shares of the medical research company’s stock, valued at approximately $98,000.

Several other institutional investors have also modified their holdings of the stock. Park Avenue Securities LLC lifted its stake in shares of Edwards Lifesciences by 0.5% in the second quarter. Park Avenue Securities LLC now owns 23,484 shares of the medical research company’s stock worth $2,169,000 after buying an additional 108 shares in the last quarter. City State Bank lifted its stake in shares of Edwards Lifesciences by 16.5% in the second quarter. City State Bank now owns 917 shares of the medical research company’s stock worth $85,000 after buying an additional 130 shares in the last quarter. Chapin Davis Inc. lifted its stake in shares of Edwards Lifesciences by 1.7% in the first quarter. Chapin Davis Inc. now owns 8,548 shares of the medical research company’s stock worth $817,000 after buying an additional 140 shares in the last quarter. Valley National Advisers Inc. lifted its stake in shares of Edwards Lifesciences by 6.0% in the first quarter. Valley National Advisers Inc. now owns 2,677 shares of the medical research company’s stock worth $255,000 after buying an additional 152 shares in the last quarter. Finally, Choreo LLC lifted its stake in shares of Edwards Lifesciences by 4.1% in the first quarter. Choreo LLC now owns 3,840 shares of the medical research company’s stock worth $367,000 after buying an additional 153 shares in the last quarter. Institutional investors and hedge funds own 79.46% of the company’s stock.

Insider Activity at Edwards Lifesciences

In other Edwards Lifesciences news, VP Daveen Chopra sold 1,250 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total transaction of $87,437.50. Following the completion of the transaction, the vice president now owns 29,333 shares in the company, valued at $2,051,843.35. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $66.77, for a total transaction of $333,850.00. Following the completion of the transaction, the vice president now owns 46,936 shares in the company, valued at $3,133,916.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Daveen Chopra sold 1,250 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $2,051,843.35. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,250 shares of company stock worth $1,099,238. Corporate insiders own 1.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on EW. Evercore ISI decreased their price target on shares of 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. Stifel Nicolaus decreased 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 note on Thursday, July 25th. JPMorgan Chase & Co. lifted their target price on shares of Edwards Lifesciences from $72.00 to $78.00 and gave the stock a “neutral” rating in a research note on Friday. Daiwa America raised shares of Edwards Lifesciences to a “strong-buy” rating in a research note on Wednesday, July 31st. Finally, Truist Financial reduced their target price on shares of Edwards Lifesciences from $71.00 to $70.00 and set a “hold” rating on the stock in a research note on Friday. Fifteen research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $75.67.

Edwards Lifesciences Trading Down 1.4 %

Shares of EW stock opened at $69.38 on Friday. 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 stock has a market capitalization of $41.81 billion, a P/E ratio of 29.91, a price-to-earnings-growth ratio of 2.83 and a beta of 1.13. The company has a 50 day moving average price of $68.08 and a 200 day moving average price of $78.65. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $96.12.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Thursday, October 24th. The medical research company reported $0.67 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.67. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.59 earnings per share. Equities research analysts predict that Edwards Lifesciences Co. will post 2.71 EPS for the current fiscal year.

Edwards Lifesciences Company 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.