Lindbrook Capital LLC Has $292,000 Stock Position in Edwards Lifesciences Co. (NYSE:EW)

Lindbrook Capital LLC raised its position in shares of Edwards Lifesciences Co. (NYSE:EW) by 6.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,830 shares of the medical research company’s stock after purchasing an additional 245 shares during the quarter. Lindbrook Capital LLC’s holdings in Edwards Lifesciences were worth $292,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. abrdn plc grew its stake in Edwards Lifesciences by 130.2% during the fourth quarter. abrdn plc now owns 1,305,854 shares of the medical research company’s stock worth $99,571,000 after purchasing an additional 738,648 shares during the period. Ipswich Investment Management Co. Inc. grew its stake in Edwards Lifesciences by 7.9% during the fourth quarter. Ipswich Investment Management Co. Inc. now owns 16,579 shares of the medical research company’s stock worth $1,264,000 after purchasing an additional 1,215 shares during the period. Kornitzer Capital Management Inc. KS grew its stake in Edwards Lifesciences by 18.2% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 149,001 shares of the medical research company’s stock worth $11,361,000 after purchasing an additional 22,950 shares during the period. Litman Gregory Wealth Management LLC grew its stake in Edwards Lifesciences by 0.8% during the fourth quarter. Litman Gregory Wealth Management LLC now owns 126,447 shares of the medical research company’s stock worth $9,642,000 after purchasing an additional 997 shares during the period. Finally, Wetzel Investment Advisors Inc. acquired a new stake in Edwards Lifesciences during the fourth quarter worth approximately $130,000. Institutional investors and hedge funds own 79.46% of the company’s stock.

Insider Activity at Edwards Lifesciences

In related news, Director Michael A. Mussallem sold 29,350 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $86.67, for a total transaction of $2,543,764.50. Following the sale, the director now directly owns 4,486 shares in the company, valued at approximately $388,801.62. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Scott B. Ullem sold 7,255 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $78.29, for a total transaction of $567,993.95. Following the completion of the transaction, the chief financial officer now directly owns 19,248 shares in the company, valued at $1,506,925.92. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Michael A. Mussallem sold 29,350 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $86.67, for a total value of $2,543,764.50. Following the transaction, the director now owns 4,486 shares of the company’s stock, valued at $388,801.62. The disclosure for this sale can be found here. In the last three months, insiders have sold 194,004 shares of company stock worth $17,166,254. 1.27% of the stock is owned by company insiders.

Edwards Lifesciences Stock Performance

Shares of EW opened at $86.96 on Tuesday. The firm has a market cap of $52.34 billion, a PE ratio of 37.81, a PEG ratio of 4.26 and a beta of 1.05. The stock’s fifty day moving average price is $90.15 and its two-hundred day moving average price is $78.52. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.38 and a quick ratio of 2.40. Edwards Lifesciences Co. has a 1 year low of $60.57 and a 1 year high of $96.12.

Edwards Lifesciences (NYSE:EW) last issued its earnings results on Tuesday, February 6th. The medical research company reported $0.64 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.64. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. Edwards Lifesciences had a return on equity of 23.56% and a net margin of 23.35%. The business’s revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.64 earnings per share. On average, equities research analysts forecast that Edwards Lifesciences Co. will post 2.76 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on EW. Mizuho raised their price objective on Edwards Lifesciences from $95.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Evercore ISI raised their price objective on Edwards Lifesciences from $86.00 to $92.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. StockNews.com cut Edwards Lifesciences from a “buy” rating to a “hold” rating in a research note on Wednesday, March 20th. Citigroup raised their price objective on Edwards Lifesciences from $90.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Finally, Morgan Stanley raised their price objective on Edwards Lifesciences from $95.00 to $103.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $91.73.

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.