Litman Gregory Wealth Management LLC Grows Stock Holdings in Edwards Lifesciences Co. (NYSE:EW)

Litman Gregory Wealth Management LLC raised its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 24.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 161,371 shares of the medical research company’s stock after buying an additional 31,997 shares during the period. Litman Gregory Wealth Management LLC’s holdings in Edwards Lifesciences were worth $10,649,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in EW. Price T Rowe Associates Inc. MD increased its holdings in Edwards Lifesciences by 57.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,516,260 shares of the medical research company’s stock valued at $622,695,000 after buying an additional 2,390,137 shares during the last quarter. CCLA Investment Management boosted its position in shares of Edwards Lifesciences by 100,739.7% in the first quarter. CCLA Investment Management now owns 1,406,714 shares of the medical research company’s stock worth $134,092,000 after purchasing an additional 1,405,319 shares during the period. Swedbank AB bought a new position in shares of Edwards Lifesciences in the first quarter worth approximately $124,511,000. Sei Investments Co. boosted its position in shares of Edwards Lifesciences by 162.7% in the first quarter. Sei Investments Co. now owns 1,465,719 shares of the medical research company’s stock worth $140,064,000 after purchasing an additional 907,688 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Edwards Lifesciences by 4.3% in the second quarter. Bank of New York Mellon Corp now owns 19,782,909 shares of the medical research company’s stock worth $1,827,347,000 after purchasing an additional 809,605 shares during the period. 79.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on EW shares. Baird R W lowered shares of Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 25th. Citigroup dropped their price target on shares of Edwards Lifesciences from $83.00 to $77.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Wolfe Research upgraded shares of Edwards Lifesciences from an “underperform” rating to a “peer perform” rating in a research report on Monday, July 29th. Piper Sandler dropped their price target on shares of Edwards Lifesciences from $88.00 to $73.00 and set a “neutral” rating for the company in a research report on Thursday, July 25th. Finally, TD Cowen lowered shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and dropped their price target for the stock from $100.00 to $70.00 in a research report on Thursday, July 25th. Fifteen research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Edwards Lifesciences presently has a consensus rating of “Hold” and an average target price of $75.81.

Insider Activity

In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total value of $330,400.00. Following the sale, the vice president now owns 46,936 shares of the company’s stock, valued at approximately $3,101,530.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, VP Daveen Chopra sold 1,250 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total value of $87,437.50. Following the transaction, the vice president now owns 29,333 shares of the company’s stock, valued at $2,051,843.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $66.08, for a total transaction of $330,400.00. Following the completion of the transaction, the vice president now directly owns 46,936 shares in the company, valued at $3,101,530.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,250 shares of company stock valued at $1,099,238. 1.29% of the stock is currently owned by company insiders.

Edwards Lifesciences Price Performance

Edwards Lifesciences stock traded up $0.99 during mid-day trading on Wednesday, reaching $70.23. 1,168,659 shares of the company’s stock traded hands, compared to its average volume of 4,546,851. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $96.12. The company has a market cap of $42.32 billion, a price-to-earnings ratio of 29.84, a PEG ratio of 2.83 and a beta of 1.13. The company has a quick ratio of 2.87, a current ratio of 3.71 and a debt-to-equity ratio of 0.08. The stock has a 50 day moving average of $67.96 and a two-hundred day moving average of $78.76.

Edwards Lifesciences (NYSE:EW) last announced its earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the firm posted $0.66 earnings per share. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. Equities analysts forecast that Edwards Lifesciences Co. will post 2.71 earnings per share for the current year.

Edwards Lifesciences Company Profile

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.