Crescent Grove Advisors LLC Takes Position in Edwards Lifesciences Co. (NYSE:EW)

Crescent Grove Advisors LLC purchased a new position in Edwards Lifesciences Co. (NYSE:EW) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,704 shares of the medical research company’s stock, valued at approximately $200,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its position in shares of Edwards Lifesciences by 86.3% during the 3rd quarter. Wellington Management Group LLP now owns 31,532,725 shares of the medical research company’s stock valued at $2,080,845,000 after buying an additional 14,610,123 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Edwards Lifesciences by 475.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 4,243,976 shares of the medical research company’s stock valued at $314,182,000 after purchasing an additional 3,506,886 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in Edwards Lifesciences by 239.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 3,693,663 shares of the medical research company’s stock worth $243,745,000 after purchasing an additional 2,606,950 shares during the period. Seilern Investment Management Ltd purchased a new position in shares of Edwards Lifesciences in the fourth quarter worth about $109,490,000. Finally, Nordea Investment Management AB raised its position in shares of Edwards Lifesciences by 34.6% in the fourth quarter. Nordea Investment Management AB now owns 4,057,013 shares of the medical research company’s stock valued at $301,355,000 after purchasing an additional 1,043,484 shares during the period. Institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Trading Up 0.1 %

Shares of EW opened at $68.98 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $96.12. The firm has a 50 day moving average price of $72.33 and a 200-day moving average price of $70.52. The firm has a market cap of $40.68 billion, a price-to-earnings ratio of 9.95, a PEG ratio of 3.54 and a beta of 1.11.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Thursday, October 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.67. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same period last year, the firm earned $0.59 earnings per share. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. As a group, equities research analysts forecast that Edwards Lifesciences Co. will post 2.56 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on EW. Morgan Stanley reiterated an “equal weight” rating and issued a $70.00 price objective on shares of Edwards Lifesciences in a research note on Friday, October 11th. Daiwa America cut Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Bank of America raised Edwards Lifesciences from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $82.00 to $90.00 in a report on Monday, December 16th. The Goldman Sachs Group upped their price target on Edwards Lifesciences from $81.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Finally, Piper Sandler cut their price objective on shares of Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $78.48.

Insider Activity at Edwards Lifesciences

In other news, insider Larry L. Wood sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $65.91, for a total value of $1,647,750.00. Following the transaction, the insider now owns 198,526 shares in the company, valued at approximately $13,084,848.66. This trade represents a 11.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Daniel J. Lippis sold 2,500 shares of Edwards Lifesciences stock in a transaction on Monday, December 16th. The stock was sold at an average price of $74.08, for a total transaction of $185,200.00. Following the completion of the transaction, the vice president now directly owns 23,189 shares in the company, valued at approximately $1,717,841.12. The trade was a 9.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,000 shares of company stock worth $2,195,180 in the last ninety days. 1.29% of the stock is owned by company insiders.

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.