Teachers Retirement System of The State of Kentucky Acquires New Stake in Edwards Lifesciences Co. (NYSE:EW)

Teachers Retirement System of The State of Kentucky bought a new position in Edwards Lifesciences Co. (NYSE:EWGet Rating) in the third quarter, HoldingsChannel reports. The institutional investor bought 58,990 shares of the medical research company’s stock, valued at approximately $4,874,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Bogart Wealth LLC bought a new stake in shares of Edwards Lifesciences in the 3rd quarter worth $25,000. MV Capital Management Inc. increased its holdings in shares of Edwards Lifesciences by 74.1% in the 3rd quarter. MV Capital Management Inc. now owns 329 shares of the medical research company’s stock worth $27,000 after purchasing an additional 140 shares in the last quarter. Wagner Wealth Management LLC bought a new stake in shares of Edwards Lifesciences in the 2nd quarter worth $44,000. New Millennium Group LLC bought a new stake in shares of Edwards Lifesciences in the 2nd quarter worth $54,000. Finally, Boit C F David bought a new stake in shares of Edwards Lifesciences in the 3rd quarter worth $54,000. Institutional investors own 80.35% of the company’s stock.

Edwards Lifesciences Price Performance

NYSE:EW opened at $80.74 on Friday. The company has a quick ratio of 2.17, a current ratio of 3.03 and a debt-to-equity ratio of 0.10. The business’s 50-day simple moving average is $78.35 and its two-hundred day simple moving average is $79.39. The stock has a market cap of $48.94 billion, a PE ratio of 33.09, a P/E/G ratio of 4.63 and a beta of 1.01. Edwards Lifesciences Co. has a 52 week low of $67.13 and a 52 week high of $131.10.

Edwards Lifesciences (NYSE:EWGet Rating) last posted its quarterly earnings results on Tuesday, January 31st. The medical research company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Edwards Lifesciences had a return on equity of 26.05% and a net margin of 28.27%. The business’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period last year, the firm earned $0.51 earnings per share. As a group, analysts forecast that Edwards Lifesciences Co. will post 2.52 EPS for the current fiscal year.

Insider Transactions at Edwards Lifesciences

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 6,725 shares of the business’s stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $77.50, for a total transaction of $521,187.50. Following the sale, the vice president now directly owns 62,561 shares of the company’s stock, valued at $4,848,477.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Edwards Lifesciences news, VP Daveen Chopra sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $78.00, for a total transaction of $312,000.00. Following the sale, the vice president now directly owns 18,911 shares of the company’s stock, valued at $1,475,058. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Donald E. Bobo, Jr. sold 6,725 shares of the business’s stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $77.50, for a total value of $521,187.50. Following the sale, the vice president now directly owns 62,561 shares in the company, valued at $4,848,477.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,821 shares of company stock valued at $7,902,704. 1.29% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on EW shares. Sanford C. Bernstein lowered Edwards Lifesciences from an “outperform” rating to an “underperform” rating and reduced their target price for the stock from $95.00 to $66.00 in a report on Tuesday, January 31st. StockNews.com initiated coverage on Edwards Lifesciences in a research note on Thursday. They issued a “hold” rating on the stock. Piper Sandler downgraded Edwards Lifesciences from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $95.00 to $80.00 in a research note on Monday, January 30th. Canaccord Genuity Group raised their price target on Edwards Lifesciences from $68.00 to $76.00 and gave the stock a “hold” rating in a research note on Wednesday, February 1st. Finally, Morgan Stanley raised their price target on Edwards Lifesciences from $92.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, January 6th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Edwards Lifesciences currently has an average rating of “Hold” and a consensus price target of $88.95.

About Edwards Lifesciences

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Edwards Lifesciences Corp. engages in patient-focused medical innovations for heart disease and critical care monitoring. Its products are categorized into four main areas: Transcatheter Aortic Valve Replacement, Transcatheter Mitral and Tricuspid Therapies, Surgical Structural Heart, and Critical Care.

See Also

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Institutional Ownership by Quarter for Edwards Lifesciences (NYSE:EW)

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