Purus Wealth Management LLC Boosts Stake in Edwards Lifesciences Co. (NYSE:EW)

Purus Wealth Management LLC raised its position in Edwards Lifesciences Co. (NYSE:EW) by 5.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,212 shares of the medical research company’s stock after purchasing an additional 160 shares during the quarter. Purus Wealth Management LLC’s holdings in Edwards Lifesciences were worth $297,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC increased its position in shares of Edwards Lifesciences by 4.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 330,711 shares of the medical research company’s stock worth $31,603,000 after acquiring an additional 14,087 shares during the period. Empowered Funds LLC increased its position in shares of Edwards Lifesciences by 151.2% during the first quarter. Empowered Funds LLC now owns 20,123 shares of the medical research company’s stock worth $1,923,000 after acquiring an additional 12,112 shares during the period. Cetera Advisors LLC increased its position in shares of Edwards Lifesciences by 175.1% during the first quarter. Cetera Advisors LLC now owns 38,090 shares of the medical research company’s stock worth $3,640,000 after acquiring an additional 24,242 shares during the period. TD Asset Management Inc boosted its stake in shares of Edwards Lifesciences by 95.1% during the fourth quarter. TD Asset Management Inc now owns 1,323,611 shares of the medical research company’s stock valued at $100,925,000 after purchasing an additional 645,204 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in Edwards Lifesciences by 10.8% during the fourth quarter. Sei Investments Co. now owns 558,031 shares of the medical research company’s stock valued at $42,550,000 after buying an additional 54,595 shares during the period. 79.46% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total value of $330,400.00. Following the completion of the transaction, the vice president now owns 46,936 shares in the company, valued at $3,101,530.88. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total transaction of $330,400.00. Following the completion of the transaction, the vice president now owns 46,936 shares in the company, valued at approximately $3,101,530.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Daveen Chopra sold 1,250 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total transaction of $87,437.50. Following the transaction, the vice president now owns 29,333 shares of the company’s stock, valued at approximately $2,051,843.35. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,250 shares of company stock worth $1,218,138. Company insiders own 1.29% of the company’s stock.

Edwards Lifesciences Trading Down 3.1 %

Shares of Edwards Lifesciences stock opened at $67.22 on Wednesday. The firm has a 50-day simple moving average of $71.41 and a two-hundred day simple moving average of $83.22. The company has a market cap of $40.51 billion, a P/E ratio of 28.97, a price-to-earnings-growth ratio of 2.85 and a beta of 1.13. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $96.12. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.87 and a current ratio of 3.71.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings data on Wednesday, July 24th. The medical research company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.65 billion. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The company’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.66 earnings per share. As a group, equities analysts predict that Edwards Lifesciences Co. will post 2.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

EW has been the topic of several research reports. UBS Group cut their price objective on shares of Edwards Lifesciences from $90.00 to $75.00 and set a “neutral” rating on the stock in a report on Tuesday, September 10th. StockNews.com lowered shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Robert W. Baird lowered shares of Edwards Lifesciences from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $102.00 to $70.00 in a report on Thursday, July 25th. Barclays cut their price target on shares of Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Monday, September 9th. Finally, TD Cowen lowered shares of 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 report on Thursday, July 25th. Fifteen analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $80.29.

About Edwards Lifesciences

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.