Cullen Investment Group LTD. reduced its stake in shares of Edwards Lifesciences Corporation (NYSE:EW – Free Report) by 60.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,740 shares of the medical research company’s stock after selling 13,494 shares during the quarter. Cullen Investment Group LTD.’s holdings in Edwards Lifesciences were worth $744,000 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 stock. JPL Wealth Management LLC acquired a new stake in shares of Edwards Lifesciences during the 3rd quarter worth about $25,000. True Wealth Design LLC boosted its position in Edwards Lifesciences by 251.5% in the third quarter. True Wealth Design LLC now owns 362 shares of the medical research company’s stock valued at $28,000 after buying an additional 259 shares in the last quarter. Hantz Financial Services Inc. grew its stake in Edwards Lifesciences by 76.6% during the third quarter. Hantz Financial Services Inc. now owns 378 shares of the medical research company’s stock worth $29,000 after buying an additional 164 shares during the last quarter. Rakuten Securities Inc. increased its holdings in shares of Edwards Lifesciences by 413.7% during the second quarter. Rakuten Securities Inc. now owns 375 shares of the medical research company’s stock worth $29,000 after buying an additional 302 shares in the last quarter. Finally, Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Edwards Lifesciences during the third quarter worth approximately $30,000. 79.46% of the stock is owned by institutional investors.
Edwards Lifesciences Stock Up 1.2%
Shares of NYSE EW opened at $82.71 on Thursday. Edwards Lifesciences Corporation has a 1 year low of $65.94 and a 1 year high of $87.89. The firm’s 50-day moving average is $82.16 and its 200-day moving average is $81.66. The company has a current ratio of 3.72, a quick ratio of 3.09 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $48.04 billion, a PE ratio of 45.20, a price-to-earnings-growth ratio of 2.13 and a beta of 0.93.
Wall Street Analyst Weigh In
Several brokerages have recently commented on EW. Truist Financial set a $89.00 target price on Edwards Lifesciences and gave the stock a “hold” rating in a report on Wednesday, February 11th. The Goldman Sachs Group reiterated a “buy” rating and issued a $95.00 price objective (down from $108.00) on shares of Edwards Lifesciences in a research report on Wednesday, February 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Edwards Lifesciences in a research note on Wednesday, January 21st. Piper Sandler restated an “overweight” rating and set a $100.00 target price (up from $98.00) on shares of Edwards Lifesciences in a report on Wednesday, February 11th. Finally, Royal Bank Of Canada raised their target price on Edwards Lifesciences from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, December 5th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $96.14.
Get Our Latest Stock Analysis on EW
Insider Activity
In related news, CFO Scott B. Ullem sold 13,000 shares of the company’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $84.92, for a total value of $1,103,960.00. Following the completion of the sale, the chief financial officer owned 39,699 shares in the company, valued at approximately $3,371,239.08. This represents a 24.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Daniel J. Lippis sold 1,019 shares of the stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $85.38, for a total value of $87,002.22. Following the completion of the transaction, the vice president directly owned 33,934 shares in the company, valued at $2,897,284.92. The trade was a 2.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 61,718 shares of company stock valued at $5,236,281 in the last 90 days. 1.29% of the stock is owned by company 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.
Recommended Stories
Want to see what other hedge funds are holding EW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Edwards Lifesciences Corporation (NYSE:EW – Free Report).
Receive News & Ratings for Edwards Lifesciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edwards Lifesciences and related companies with MarketBeat.com's FREE daily email newsletter.
