Smithbridge Asset Management Inc. DE Purchases 2,202 Shares of Edwards Lifesciences Co. (NYSE:EW)

Smithbridge Asset Management Inc. DE increased its position in Edwards Lifesciences Co. (NYSE:EW) by 20.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,086 shares of the medical research company’s stock after purchasing an additional 2,202 shares during the quarter. Smithbridge Asset Management Inc. DE’s holdings in Edwards Lifesciences were worth $864,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of EW. Crewe Advisors LLC bought a new stake in shares of Edwards Lifesciences during the first quarter worth approximately $28,000. First Community Trust NA bought a new stake in Edwards Lifesciences in the 2nd quarter valued at $29,000. Webster Bank N. A. bought a new position in Edwards Lifesciences during the 2nd quarter worth $39,000. Peoples Bank KS bought a new position in Edwards Lifesciences during the 3rd quarter worth $40,000. Finally, Versant Capital Management Inc boosted its position in shares of Edwards Lifesciences by 206.3% in the second quarter. Versant Capital Management Inc now owns 484 shares of the medical research company’s stock valued at $45,000 after acquiring an additional 326 shares during the period. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on EW. Wells Fargo & Company lowered their price target on shares of Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Monday, September 9th. Stifel Nicolaus cut their price target on Edwards Lifesciences from $85.00 to $70.00 and set a “hold” rating for the company in a research note on Thursday, July 25th. Piper Sandler reduced their price target on Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating on the stock in a research report on Friday. Canaccord Genuity Group dropped their price objective on Edwards Lifesciences from $66.00 to $63.00 and set a “hold” rating for the company in a report on Friday. Finally, TD Cowen lowered Edwards Lifesciences from a “buy” rating to a “hold” rating and reduced their target price for the stock from $100.00 to $70.00 in a report on Thursday, July 25th. Fifteen research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $75.67.

Insider Activity

In other Edwards Lifesciences news, VP Daveen Chopra sold 1,250 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total transaction of $87,437.50. Following the completion of the transaction, the vice president now owns 29,333 shares in the company, valued at approximately $2,051,843.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Edwards Lifesciences news, VP Daveen Chopra sold 1,250 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total transaction of $87,437.50. Following the sale, the vice president now owns 29,333 shares of the company’s stock, valued at approximately $2,051,843.35. 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 hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $66.77, for a total value of $333,850.00. Following the completion of the transaction, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,133,916.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,250 shares of company stock valued at $1,099,238. Company insiders own 1.29% of the company’s stock.

Edwards Lifesciences Trading Up 3.3 %

NYSE:EW traded up $2.31 during mid-day trading on Monday, hitting $71.69. 491,482 shares of the company’s stock were exchanged, compared to its average volume of 4,574,260. The company has a current ratio of 3.71, a quick ratio of 2.87 and a debt-to-equity ratio of 0.08. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $96.12. The company has a 50 day simple moving average of $68.09 and a 200-day simple moving average of $78.30. The firm has a market capitalization of $43.19 billion, a P/E ratio of 28.55, a PEG ratio of 3.00 and a beta of 1.13.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings data on Thursday, October 24th. The medical research company reported $0.67 earnings per share for the quarter, hitting the consensus estimate of $0.67. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. Edwards Lifesciences’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.59 earnings per share. As a group, research analysts expect that Edwards Lifesciences Co. will post 2.61 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.