LRI Investments LLC Purchases 296 Shares of Edwards Lifesciences Corporation (NYSE:EW)

LRI Investments LLC increased its position in shares of Edwards Lifesciences Corporation (NYSE:EW) by 2.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,824 shares of the medical research company’s stock after buying an additional 296 shares during the quarter. LRI Investments LLC’s holdings in Edwards Lifesciences were worth $1,074,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Crowley Wealth Management Inc. acquired a new position in Edwards Lifesciences during the fourth quarter valued at approximately $26,000. Vega Investment Solutions acquired a new position in Edwards Lifesciences during the fourth quarter valued at approximately $27,000. Rossby Financial LCC acquired a new position in Edwards Lifesciences during the first quarter valued at approximately $29,000. Millstone Evans Group LLC acquired a new position in Edwards Lifesciences during the fourth quarter valued at approximately $29,000. Finally, Global X Japan Co. Ltd. lifted its position in shares of Edwards Lifesciences by 116.1% in the first quarter. Global X Japan Co. Ltd. now owns 402 shares of the medical research company’s stock valued at $29,000 after buying an additional 216 shares during the last quarter. 79.46% of the stock is currently owned by institutional investors.

Edwards Lifesciences Trading Down 0.9%

Shares of EW opened at $78.07 on Friday. Edwards Lifesciences Corporation has a 52-week low of $58.93 and a 52-week high of $91.49. The business’s fifty day moving average is $76.30 and its 200-day moving average is $73.37. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.66 and a current ratio of 4.45. The firm has a market cap of $45.79 billion, a price-to-earnings ratio of 11.15, a PEG ratio of 3.92 and a beta of 1.11.

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

Insider Activity at Edwards Lifesciences

In related news, CFO Scott B. Ullem sold 11,250 shares of the firm’s stock in a transaction on Friday, May 9th. The stock was sold at an average price of $74.40, for a total transaction of $837,000.00. Following the sale, the chief financial officer owned 41,098 shares of the company’s stock, valued at $3,057,691.20. This trade represents a 21.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 2,570 shares of the firm’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $77.40, for a total value of $198,918.00. Following the sale, the vice president directly owned 50,356 shares in the company, valued at approximately $3,897,554.40. This trade represents a 4.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 40,348 shares of company stock worth $2,977,683 over the last 90 days. 1.29% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. 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 report on Tuesday, May 13th. Dbs Bank raised Edwards Lifesciences to a “hold” rating in a research report on Monday, June 2nd. Canaccord Genuity Group raised their price objective on Edwards Lifesciences from $71.00 to $75.00 and gave the company a “hold” rating in a research report on Friday, April 25th. Wall Street Zen cut Edwards Lifesciences from a “buy” rating to a “hold” rating in a research report on Friday, May 16th. Finally, Citigroup reissued a “buy” rating and set a $95.00 price target (up from $84.00) on shares of Edwards Lifesciences in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $80.40.

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.