Prasad Wealth Partners LLC Invests $277,000 in Edwards Lifesciences Co. (NYSE:EW)

Prasad Wealth Partners LLC acquired a new position in shares of Edwards Lifesciences Co. (NYSE:EW) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,745 shares of the medical research company’s stock, valued at approximately $277,000.

Several other hedge funds have also recently added to or reduced their stakes in EW. FSA Wealth Management LLC acquired a new position in shares of Edwards Lifesciences during the third quarter worth approximately $30,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Edwards Lifesciences during the fourth quarter worth $30,000. Prospera Private Wealth LLC acquired a new position in Edwards Lifesciences during the 3rd quarter valued at $32,000. Avior Wealth Management LLC boosted its holdings in Edwards Lifesciences by 138.7% in the 3rd quarter. Avior Wealth Management LLC now owns 530 shares of the medical research company’s stock valued at $35,000 after purchasing an additional 308 shares during the period. Finally, JFS Wealth Advisors LLC boosted its holdings in Edwards Lifesciences by 31.1% in the 3rd quarter. JFS Wealth Advisors LLC now owns 700 shares of the medical research company’s stock valued at $46,000 after purchasing an additional 166 shares during the period. Institutional investors own 79.46% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Scott B. Ullem sold 11,250 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $75.76, for a total value of $852,300.00. Following the transaction, the chief financial officer now owns 30,561 shares in the company, valued at $2,315,301.36. This trade represents a 26.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Daniel J. Lippis sold 500 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $68.76, for a total value of $34,380.00. Following the sale, the vice president now directly owns 23,189 shares of the company’s stock, valued at $1,594,475.64. This represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,489 shares of company stock valued at $2,002,829. Insiders own 1.29% of the company’s stock.

Edwards Lifesciences Trading Down 0.8 %

EW stock opened at $72.72 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89. The stock has a market capitalization of $42.89 billion, a price-to-earnings ratio of 10.43, a P/E/G ratio of 4.82 and a beta of 1.11. The business has a fifty day moving average price of $72.83 and a 200 day moving average price of $70.13. 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 earnings results on Tuesday, February 11th. The medical research company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. Analysts expect that Edwards Lifesciences Co. will post 2.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on EW. Canaccord Genuity Group upped their price objective on shares of Edwards Lifesciences from $68.00 to $71.00 and gave the company a “hold” rating in a research report on Thursday, February 13th. Sanford C. Bernstein raised Edwards Lifesciences from a “strong sell” rating to a “hold” rating in a report on Monday, October 28th. Royal Bank of Canada reissued an “outperform” rating and set a $85.00 price objective on shares of Edwards Lifesciences in a report on Wednesday, February 12th. Daiwa America lowered Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Wolfe Research downgraded shares of Edwards Lifesciences from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $79.95.

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.