Beese Fulmer Investment Management Inc. Has $11.51 Million Stock Holdings in Edwards Lifesciences Co. (NYSE:EW)

Beese Fulmer Investment Management Inc. grew its holdings in Edwards Lifesciences Co. (NYSE:EW) by 1.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 122,038 shares of the medical research company’s stock after buying an additional 1,279 shares during the quarter. Edwards Lifesciences makes up 1.2% of Beese Fulmer Investment Management Inc.’s portfolio, making the stock its 28th largest position. Beese Fulmer Investment Management Inc.’s holdings in Edwards Lifesciences were worth $11,512,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Castleview Partners LLC acquired a new stake in Edwards Lifesciences in the first quarter worth about $25,000. Core Alternative Capital increased its position in Edwards Lifesciences by 96.1% in the first quarter. Core Alternative Capital now owns 353 shares of the medical research company’s stock worth $29,000 after purchasing an additional 173 shares during the period. Compass Wealth Management LLC acquired a new stake in Edwards Lifesciences in the fourth quarter worth about $31,000. Jones Financial Companies Lllp acquired a new position in shares of Edwards Lifesciences during the 1st quarter worth about $33,000. Finally, MCF Advisors LLC grew its position in shares of Edwards Lifesciences by 179.6% during the 1st quarter. MCF Advisors LLC now owns 411 shares of the medical research company’s stock worth $34,000 after buying an additional 264 shares during the period. 79.25% of the stock is currently owned by institutional investors and hedge funds.

Edwards Lifesciences Stock Down 1.1 %

Shares of NYSE EW traded down $0.82 during trading hours on Friday, hitting $73.20. The company had a trading volume of 3,985,765 shares, compared to its average volume of 3,165,992. The stock has a market capitalization of $44.50 billion, a P/E ratio of 32.39, a price-to-earnings-growth ratio of 3.95 and a beta of 1.03. The company has a quick ratio of 2.30, a current ratio of 3.15 and a debt-to-equity ratio of 0.09. Edwards Lifesciences Co. has a 1-year low of $67.13 and a 1-year high of $94.87. The firm’s 50 day moving average is $81.38 and its 200-day moving average is $83.95.

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on EW. 58.com restated a “reiterates” rating on shares of Edwards Lifesciences in a research report on Tuesday, June 27th. Morgan Stanley restated an “overweight” rating and set a $102.00 target price on shares of Edwards Lifesciences in a research report on Friday, July 14th. Royal Bank of Canada restated an “outperform” rating and set a $96.00 target price on shares of Edwards Lifesciences in a research report on Thursday, August 17th. Piper Sandler decreased their target price on Edwards Lifesciences from $88.00 to $83.00 and set a “neutral” rating for the company in a research report on Friday, September 8th. Finally, Citigroup lifted their price objective on Edwards Lifesciences from $101.00 to $110.00 in a report on Monday, July 10th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $92.42.

Insider Activity at Edwards Lifesciences

In related news, CFO Scott B. Ullem sold 7,255 shares of the stock in a transaction on Friday, June 30th. The stock was sold at an average price of $93.27, for a total value of $676,673.85. Following the sale, the chief financial officer now owns 19,248 shares in the company, valued at approximately $1,795,260.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Edwards Lifesciences news, CFO Scott B. Ullem sold 7,255 shares of the 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Catherine M. Szyman sold 5,000 shares of the stock in a transaction on Monday, July 10th. The stock was sold at an average price of $90.52, for a total value of $452,600.00. Following the transaction, the vice president now owns 34,814 shares in the company, valued at approximately $3,151,363.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 174,359 shares of company stock worth $14,301,522. Company insiders own 1.29% of the company’s stock.

Edwards Lifesciences Profile

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.