Azzad Asset Management Inc. ADV Boosts Stake in Edwards Lifesciences Corporation $EW

Azzad Asset Management Inc. ADV lifted its position in shares of Edwards Lifesciences Corporation (NYSE:EW) by 330.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,227 shares of the medical research company’s stock after purchasing an additional 16,296 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Edwards Lifesciences were worth $1,651,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rosenberg Matthew Hamilton purchased a new stake in shares of Edwards Lifesciences in the 2nd quarter worth about $28,000. True Wealth Design LLC boosted its stake in Edwards Lifesciences by 251.5% during the third quarter. True Wealth Design LLC now owns 362 shares of the medical research company’s stock worth $28,000 after acquiring an additional 259 shares in the last quarter. NewSquare Capital LLC boosted its stake in Edwards Lifesciences by 57.8% during the second quarter. NewSquare Capital LLC now owns 366 shares of the medical research company’s stock worth $29,000 after acquiring an additional 134 shares in the last quarter. Rakuten Securities Inc. grew its holdings in Edwards Lifesciences by 413.7% in the second quarter. Rakuten Securities Inc. now owns 375 shares of the medical research company’s stock worth $29,000 after purchasing an additional 302 shares during the period. Finally, Hantz Financial Services Inc. increased its stake in shares of Edwards Lifesciences by 76.6% during the third quarter. Hantz Financial Services Inc. now owns 378 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 164 shares in the last quarter. 79.46% of the stock is owned by hedge funds and other institutional investors.

Edwards Lifesciences Stock Performance

NYSE:EW opened at $78.71 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.29 and a current ratio of 4.00. The stock has a 50-day simple moving average of $84.15 and a two-hundred day simple moving average of $81.16. The firm has a market capitalization of $45.68 billion, a PE ratio of 33.93, a P/E/G ratio of 3.03 and a beta of 0.94. Edwards Lifesciences Corporation has a 52-week low of $65.94 and a 52-week high of $87.89.

Analyst Ratings Changes

A number of equities analysts recently issued reports on EW shares. BTIG Research reiterated a “buy” rating and issued a $103.00 price target (up previously from $100.00) on shares of Edwards Lifesciences in a research note on Thursday, December 4th. Mizuho raised their price target on shares of Edwards Lifesciences from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Royal Bank Of Canada boosted their price objective on shares of Edwards Lifesciences from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, December 5th. Canaccord Genuity Group set a $87.00 target price on Edwards Lifesciences and gave the company a “hold” rating in a research note on Wednesday, December 17th. Finally, Piper Sandler restated an “overweight” rating and issued a $98.00 price target (up previously from $95.00) on shares of Edwards Lifesciences in a research note on Tuesday, January 20th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Edwards Lifesciences has a consensus rating of “Moderate Buy” and a consensus target price of $96.77.

Insider Buying and Selling

In other Edwards Lifesciences news, VP Daniel J. Lippis sold 1,019 shares of the company’s stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $85.70, for a total value of $87,328.30. Following the completion of the transaction, the vice president directly owned 22,002 shares in the company, valued at $1,885,571.40. This represents a 4.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Scott B. Ullem sold 7,700 shares of Edwards Lifesciences stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $84.47, for a total transaction of $650,419.00. Following the transaction, the chief financial officer owned 39,898 shares in the company, valued at approximately $3,370,184.06. This trade represents a 16.18% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 43,804 shares of company stock valued at $3,699,082. 0.34% of the stock is owned by corporate insiders.

About Edwards Lifesciences

Edwards Lifesciences is a medical technology company focused on products and therapies for structural heart disease and critical care monitoring. The company designs, develops and manufactures prosthetic heart valves and related delivery systems used in both surgical and minimally invasive (transcatheter) procedures. Its portfolio addresses a range of valvular conditions, with an emphasis on technologies that enable transcatheter aortic valve replacement (TAVR) as an alternative to open-heart surgery.

In addition to transcatheter heart valves—including the widely recognized SAPIEN family—Edwards offers surgical tissue valves and ancillary devices used by cardiac surgeons, interventional cardiologists and hospital teams.