Midwest Professional Planners LTD. Grows Stake in Edwards Lifesciences Co. (NYSE:EW)

Midwest Professional Planners LTD. grew its holdings in Edwards Lifesciences Co. (NYSE:EWGet Rating) by 0.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 21,563 shares of the medical research company’s stock after buying an additional 105 shares during the quarter. Edwards Lifesciences makes up about 1.4% of Midwest Professional Planners LTD.’s investment portfolio, making the stock its 17th largest holding. Midwest Professional Planners LTD.’s holdings in Edwards Lifesciences were worth $2,793,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Dakota Wealth Management lifted its stake in shares of Edwards Lifesciences by 9.3% in the 4th quarter. Dakota Wealth Management now owns 28,451 shares of the medical research company’s stock valued at $3,686,000 after purchasing an additional 2,429 shares during the period. Confluence Wealth Services Inc. purchased a new position in shares of Edwards Lifesciences in the 4th quarter valued at approximately $478,000. Pictet Asset Management SA lifted its stake in shares of Edwards Lifesciences by 9.3% in the 4th quarter. Pictet Asset Management SA now owns 970,579 shares of the medical research company’s stock valued at $125,739,000 after purchasing an additional 82,274 shares during the period. Industrial Alliance Investment Management Inc. purchased a new position in shares of Edwards Lifesciences in the 4th quarter valued at approximately $40,000. Finally, Rafferty Asset Management LLC lifted its stake in shares of Edwards Lifesciences by 5.6% in the 4th quarter. Rafferty Asset Management LLC now owns 20,984 shares of the medical research company’s stock valued at $2,718,000 after purchasing an additional 1,110 shares during the period. Institutional investors and hedge funds own 82.54% of the company’s stock.

Shares of EW stock traded up $4.11 during trading hours on Friday, hitting $97.55. The stock had a trading volume of 2,569,677 shares, compared to its average volume of 3,178,006. Edwards Lifesciences Co. has a one year low of $88.01 and a one year high of $131.73. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.41 and a quick ratio of 2.64. The stock’s 50-day moving average price is $112.06 and its two-hundred day moving average price is $114.55. The stock has a market capitalization of $60.65 billion, a price-to-earnings ratio of 39.98, a PEG ratio of 2.82 and a beta of 1.16.

Edwards Lifesciences (NYSE:EWGet Rating) last issued its quarterly earnings data on Tuesday, April 26th. The medical research company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02. Edwards Lifesciences had a return on equity of 25.80% and a net margin of 28.72%. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the firm posted $0.54 earnings per share. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, equities research analysts predict that Edwards Lifesciences Co. will post 2.56 earnings per share for the current fiscal year.

A number of research analysts recently weighed in on EW shares. Stifel Nicolaus reduced their price objective on Edwards Lifesciences from $132.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, January 27th. Truist Financial initiated coverage on Edwards Lifesciences in a research report on Tuesday, April 12th. They set a “buy” rating and a $145.00 price objective for the company. StockNews.com lowered Edwards Lifesciences from a “buy” rating to a “hold” rating in a report on Thursday, May 5th. Citigroup reduced their target price on Edwards Lifesciences from $138.00 to $134.00 in a report on Wednesday, April 27th. Finally, Sanford C. Bernstein raised Edwards Lifesciences from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $132.00 to $135.00 in a report on Wednesday, March 16th. Five investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $128.29.

In other news, CEO Michael A. Mussallem sold 32,550 shares of the company’s stock in a transaction that occurred on Tuesday, February 15th. The stock was sold at an average price of $110.09, for a total transaction of $3,583,429.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Huimin Wang sold 3,675 shares of the business’s stock in a transaction that occurred on Tuesday, March 8th. The shares were sold at an average price of $107.60, for a total value of $395,430.00. The disclosure for this sale can be found here. Insiders have sold 282,581 shares of company stock worth $30,556,623 over the last three months. 1.29% of the stock is currently owned by insiders.

Edwards Lifesciences Company Profile (Get Rating)

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.

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

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