Kennedy Capital Management LLC Buys New Position in Edwards Lifesciences Co. (NYSE:EW)

Kennedy Capital Management LLC bought a new stake in shares of Edwards Lifesciences Co. (NYSE:EW) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 25,536 shares of the medical research company’s stock, valued at approximately $2,440,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EW. Ritholtz Wealth Management bought a new position in Edwards Lifesciences in the fourth quarter worth $202,000. AdvisorNet Financial Inc grew its stake in shares of Edwards Lifesciences by 14.8% in the fourth quarter. AdvisorNet Financial Inc now owns 2,118 shares of the medical research company’s stock worth $161,000 after acquiring an additional 273 shares during the last quarter. Miracle Mile Advisors LLC grew its stake in shares of Edwards Lifesciences by 12.9% in the fourth quarter. Miracle Mile Advisors LLC now owns 9,371 shares of the medical research company’s stock worth $715,000 after acquiring an additional 1,074 shares during the last quarter. Private Ocean LLC grew its stake in shares of Edwards Lifesciences by 18.8% in the fourth quarter. Private Ocean LLC now owns 1,425 shares of the medical research company’s stock worth $109,000 after acquiring an additional 225 shares during the last quarter. Finally, TIAA Trust National Association grew its stake in shares of Edwards Lifesciences by 22.8% in the fourth quarter. TIAA Trust National Association now owns 11,149 shares of the medical research company’s stock worth $850,000 after acquiring an additional 2,072 shares during the last quarter. Institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Stock Down 0.4 %

Shares of EW stock traded down $0.26 during mid-day trading on Wednesday, hitting $63.38. 1,610,846 shares of the stock traded hands, compared to its average volume of 3,833,667. The stock has a market cap of $38.19 billion, a P/E ratio of 27.43, a P/E/G ratio of 2.38 and a beta of 1.11. The stock’s fifty day moving average is $86.92 and its two-hundred day moving average is $86.84. Edwards Lifesciences Co. has a 52-week low of $58.93 and a 52-week high of $96.12. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.71 and a quick ratio of 2.87.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Wednesday, July 24th. The medical research company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.65 billion. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. Edwards Lifesciences’s revenue was up 6.7% on a year-over-year basis. During the same period last year, the firm posted $0.66 EPS. Equities analysts predict that Edwards Lifesciences Co. will post 2.71 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on EW. Robert W. Baird cut Edwards Lifesciences from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $102.00 to $70.00 in a research note on Thursday, July 25th. JPMorgan Chase & Co. cut Edwards Lifesciences from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $105.00 to $72.00 in a research report on Thursday, July 25th. Royal Bank of Canada dropped their price objective on Edwards Lifesciences from $101.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. TD Cowen cut Edwards Lifesciences from a “buy” rating to a “hold” rating and dropped their price objective for the company from $100.00 to $70.00 in a research report on Thursday, July 25th. Finally, Piper Sandler dropped their price objective on Edwards Lifesciences from $88.00 to $73.00 and set a “neutral” rating on the stock in a research report on Thursday, July 25th. Fourteen analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Edwards Lifesciences currently has an average rating of “Hold” and a consensus target price of $82.10.

Insider Activity at Edwards Lifesciences

In other Edwards Lifesciences news, CEO Bernard J. Zovighian purchased 580 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were bought at an average price of $85.74 per share, for a total transaction of $49,729.20. Following the acquisition, the chief executive officer now owns 3,268 shares in the company, valued at $280,198.32. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Michael A. Mussallem sold 29,350 shares of Edwards Lifesciences stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $84.77, for a total value of $2,487,999.50. Following the sale, the director now owns 4,486 shares of the company’s stock, valued at approximately $380,278.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Bernard J. Zovighian purchased 580 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was bought at an average cost of $85.74 per share, for a total transaction of $49,729.20. Following the purchase, the chief executive officer now directly owns 3,268 shares in the company, valued at approximately $280,198.32. The disclosure for this purchase can be found here. Insiders sold 59,449 shares of company stock valued at $5,168,879 in the last three months. 1.29% of the stock is owned by insiders.

Edwards Lifesciences Company 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.