Edwards Lifesciences Co. (NYSE:EW) Shares Bought by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. grew its position in shares of Edwards Lifesciences Co. (NYSE:EW) by 239.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,693,663 shares of the medical research company’s stock after purchasing an additional 2,606,950 shares during the period. Edwards Lifesciences makes up about 0.9% of Jacobs Levy Equity Management Inc.’s investment portfolio, making the stock its 16th largest position. Jacobs Levy Equity Management Inc. owned approximately 0.63% of Edwards Lifesciences worth $243,745,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. First Community Trust NA purchased a new position in Edwards Lifesciences in the second quarter valued at about $29,000. FSA Wealth Management LLC acquired a new stake in shares of Edwards Lifesciences in the third quarter valued at approximately $30,000. Prospera Private Wealth LLC acquired a new stake in Edwards Lifesciences during the 3rd quarter worth about $32,000. Avior Wealth Management LLC grew its stake in shares of 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 buying an additional 308 shares during the period. Finally, Webster Bank N. A. purchased a new stake in Edwards Lifesciences in the 2nd quarter valued at about $39,000. Institutional investors and hedge funds own 79.46% of the company’s stock.

Insider Buying and Selling at Edwards Lifesciences

In other news, insider Larry L. Wood sold 25,000 shares of Edwards Lifesciences stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $65.91, for a total transaction of $1,647,750.00. Following the sale, the insider now owns 198,526 shares in the company, valued at $13,084,848.66. This trade represents a 11.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $66.77, for a total transaction of $333,850.00. Following 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 9.63 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,000 shares of company stock worth $2,657,000. 1.27% of the stock is owned by corporate insiders.

Edwards Lifesciences Price Performance

Edwards Lifesciences stock opened at $70.53 on Tuesday. Edwards Lifesciences Co. has a 52 week low of $58.93 and a 52 week high of $96.12. The stock has a market cap of $41.60 billion, a P/E ratio of 10.18, a P/E/G ratio of 4.01 and a beta of 1.12. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06. The company’s 50 day moving average price is $68.10 and its two-hundred day moving average price is $75.05.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Thursday, October 24th. The medical research company reported $0.67 EPS for the quarter, meeting analysts’ consensus estimates of $0.67. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.59 earnings per share. On average, equities analysts predict that Edwards Lifesciences Co. will post 2.57 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Morgan Stanley reiterated an “equal weight” rating and issued a $70.00 price objective on shares of Edwards Lifesciences in a research report on Friday, October 11th. Citigroup dropped their price objective on shares of Edwards Lifesciences from $83.00 to $77.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. JPMorgan Chase & Co. raised their price objective on Edwards Lifesciences from $72.00 to $78.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Daiwa America downgraded Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, Truist Financial decreased their price objective on Edwards Lifesciences from $71.00 to $70.00 and set a “hold” rating on the stock in a research note on Friday, October 25th. Seventeen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $77.25.

Edwards Lifesciences 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.