Thoroughbred Financial Services LLC Raises Stock Position in Edwards Lifesciences Co. (NYSE:EW)

Thoroughbred Financial Services LLC lifted its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 2.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,545 shares of the medical research company’s stock after acquiring an additional 465 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Edwards Lifesciences were worth $1,446,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Crowley Wealth Management Inc. acquired a new position in shares of Edwards Lifesciences during the fourth quarter worth about $26,000. Millstone Evans Group LLC purchased a new stake in shares of Edwards Lifesciences during the 4th quarter valued at about $29,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Edwards Lifesciences during the 4th quarter worth approximately $30,000. Roble Belko & Company Inc purchased a new position in Edwards Lifesciences in the 4th quarter worth approximately $46,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in Edwards Lifesciences in the fourth quarter valued at approximately $54,000. 79.46% of the stock is owned by hedge funds and other institutional investors.

Edwards Lifesciences Price Performance

Shares of NYSE EW opened at $69.39 on Friday. Edwards Lifesciences Co. has a 1-year low of $58.93 and a 1-year high of $95.25. The firm has a market capitalization of $40.79 billion, a PE ratio of 9.95, a P/E/G ratio of 4.82 and a beta of 1.15. 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 business’s fifty day moving average price is $71.74 and its two-hundred day moving average price is $70.62.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings data on Tuesday, February 11th. The medical research company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.04. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. On average, research analysts expect that Edwards Lifesciences Co. will post 2.45 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on EW. Evercore ISI decreased their target price on shares of Edwards Lifesciences from $75.00 to $73.00 and set an “in-line” rating for the company in a research note on Wednesday, February 12th. Piper Sandler raised their target price on Edwards Lifesciences from $70.00 to $73.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Canaccord Genuity Group boosted their price target on Edwards Lifesciences from $68.00 to $71.00 and gave the stock a “hold” rating in a research note on Thursday, February 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $85.00 price target on shares of Edwards Lifesciences in a report on Wednesday, February 12th. Finally, Citigroup lifted their price objective on Edwards Lifesciences from $81.00 to $83.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $79.95.

Insider Transactions at Edwards Lifesciences

In related news, VP Daniel J. Lippis sold 500 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $68.76, for a total transaction of $34,380.00. Following the sale, the vice president now owns 23,189 shares of the company’s stock, valued at $1,594,475.64. The trade was a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Bernard J. Zovighian sold 6,164 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $69.51, for a total value of $428,459.64. Following the completion of the sale, the chief executive officer now owns 59,083 shares of the company’s stock, valued at $4,106,859.33. This trade represents a 9.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 62,553 shares of company stock worth $4,513,064. Company insiders own 1.29% of the company’s stock.

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.