Point72 Asset Management L.P. Takes $43.55 Million Position in Edwards Lifesciences Co. (NYSE:EW)

Point72 Asset Management L.P. bought a new position in shares of Edwards Lifesciences Co. (NYSE:EW) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 588,206 shares of the medical research company’s stock, valued at approximately $43,545,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Crowley Wealth Management Inc. acquired a new stake in Edwards Lifesciences during the 4th quarter worth approximately $26,000. Millstone Evans Group LLC bought a new position in Edwards Lifesciences during the fourth quarter worth about $29,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Edwards Lifesciences during the fourth quarter worth about $30,000. Roble Belko & Company Inc bought a new position in Edwards Lifesciences during the fourth quarter worth about $46,000. Finally, Catalyst Capital Advisors LLC bought a new position in Edwards Lifesciences during the fourth quarter worth about $54,000. Institutional investors own 79.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on EW. Piper Sandler increased their price target on Edwards Lifesciences from $80.00 to $83.00 and gave the stock an “overweight” rating in a research report on Tuesday. Robert W. Baird increased their price target on Edwards Lifesciences from $72.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, April 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $85.00 price objective on shares of Edwards Lifesciences in a research report on Wednesday, February 12th. Canaccord Genuity Group upped their price objective on shares of Edwards Lifesciences from $71.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday, April 25th. Finally, Evercore ISI cut their price objective on shares of Edwards Lifesciences from $75.00 to $73.00 and set an “in-line” rating for the company in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Edwards Lifesciences has an average rating of “Hold” and an average target price of $79.60.

Insider Buying and Selling at Edwards Lifesciences

In other Edwards Lifesciences news, CFO Scott B. Ullem sold 11,250 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $70.78, for a total transaction of $796,275.00. Following the completion of the sale, the chief financial officer now owns 30,387 shares in the company, valued at approximately $2,150,791.86. The trade was a 27.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Bernard J. Zovighian sold 6,164 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $69.51, for a total transaction of $428,459.64. Following the transaction, the chief executive officer now owns 59,083 shares in the company, valued at approximately $4,106,859.33. The trade was a 9.45% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,192 shares of company stock valued at $4,709,454. Corporate insiders own 1.29% of the company’s stock.

Edwards Lifesciences Price Performance

Edwards Lifesciences stock opened at $76.79 on Friday. The stock has a 50-day moving average price of $71.89 and a two-hundred day moving average price of $71.67. Edwards Lifesciences Co. has a 12 month low of $58.93 and a 12 month high of $95.25. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $45.05 billion, a PE ratio of 11.02, a P/E/G ratio of 4.82 and a beta of 1.12.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.04. The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.66 EPS. Analysts expect that Edwards Lifesciences Co. will post 2.45 EPS for the current year.

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.