Greenwood Capital Associates LLC Invests $7.98 Million in Edwards Lifesciences Co. (NYSE:EW)

Greenwood Capital Associates LLC acquired a new stake in Edwards Lifesciences Co. (NYSE:EW) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 96,491 shares of the medical research company’s stock, valued at approximately $7,983,000. Edwards Lifesciences comprises about 1.1% of Greenwood Capital Associates LLC’s portfolio, making the stock its 27th biggest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. raised its position in shares of Edwards Lifesciences by 0.3% in the 1st quarter. Advisors Asset Management Inc. now owns 43,556 shares of the medical research company’s stock valued at $5,127,000 after buying an additional 117 shares in the last quarter. Geller Advisors LLC increased its position in Edwards Lifesciences by 6.5% during the 1st quarter. Geller Advisors LLC now owns 1,965 shares of the medical research company’s stock worth $231,000 after purchasing an additional 120 shares in the last quarter. Allworth Financial LP increased its position in Edwards Lifesciences by 2.5% during the 1st quarter. Allworth Financial LP now owns 5,015 shares of the medical research company’s stock worth $415,000 after purchasing an additional 122 shares in the last quarter. Rockland Trust Co. increased its position in Edwards Lifesciences by 1.4% during the 1st quarter. Rockland Trust Co. now owns 8,639 shares of the medical research company’s stock worth $715,000 after purchasing an additional 122 shares in the last quarter. Finally, First National Trust Co increased its position in Edwards Lifesciences by 3.8% during the 1st quarter. First National Trust Co now owns 3,854 shares of the medical research company’s stock worth $319,000 after purchasing an additional 141 shares in the last quarter. 79.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

EW has been the subject of a number of research analyst reports. Mizuho upped their price objective on shares of Edwards Lifesciences from $95.00 to $102.00 in a research report on Monday, July 17th. StockNews.com started coverage on shares of Edwards Lifesciences in a research report on Thursday, August 17th. They issued a “buy” rating for the company. Jefferies Financial Group upped their price target on shares of Edwards Lifesciences from $103.00 to $107.00 and gave the company a “buy” rating in a research report on Tuesday, July 25th. Truist Financial upped their price target on shares of Edwards Lifesciences from $101.00 to $105.00 in a research report on Wednesday, July 19th. Finally, Piper Sandler upped their price target on shares of Edwards Lifesciences from $83.00 to $88.00 in a research report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Edwards Lifesciences presently has an average rating of “Hold” and an average target price of $92.68.

Edwards Lifesciences Stock Up 0.4 %

NYSE EW traded up $0.32 on Wednesday, hitting $78.15. 1,350,427 shares of the company were exchanged, compared to its average volume of 3,150,693. The company has a market cap of $47.51 billion, a PE ratio of 34.53, a PEG ratio of 4.10 and a beta of 1.02. Edwards Lifesciences Co. has a 12 month low of $67.13 and a 12 month high of $98.35. The stock has a fifty day moving average of $85.48 and a 200-day moving average of $84.19. The company has a current ratio of 3.15, a quick ratio of 2.30 and a debt-to-equity ratio of 0.09.

Edwards Lifesciences (NYSE:EW) last issued its earnings results on Wednesday, July 26th. The medical research company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.01. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.51 billion. Edwards Lifesciences had a net margin of 24.56% and a return on equity of 25.43%. Edwards Lifesciences’s revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.63 earnings per share. As a group, analysts forecast that Edwards Lifesciences Co. will post 2.55 earnings per share for the current year.

Insiders Place Their Bets

In other Edwards Lifesciences news, VP Catherine M. Szyman sold 5,000 shares of the company’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $85.81, for a total transaction of $429,050.00. Following the transaction, the vice president now owns 35,056 shares in the company, valued at $3,008,155.36. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Edwards Lifesciences news, VP Catherine M. Szyman sold 5,000 shares of the company’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $85.81, for a total transaction of $429,050.00. Following the transaction, the vice president now owns 35,056 shares in the company, valued at $3,008,155.36. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Scott B. Ullem sold 7,255 shares of the company’s stock in a transaction on Friday, June 30th. The stock was sold at an average price of $93.27, for a total transaction of $676,673.85. Following the transaction, the chief financial officer now owns 19,248 shares in the company, valued at approximately $1,795,260.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 154,104 shares of company stock worth $13,203,389. Insiders own 1.29% of the company’s stock.

About Edwards Lifesciences

Edwards Lifesciences Corporation provides products and technologies for structural heart disease, and critical care and surgical monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of heart valves; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases.