Newbridge Financial Services Group Inc. Cuts Stock Holdings in Edwards Lifesciences Co. (NYSE:EW)

Newbridge Financial Services Group Inc. decreased its stake in shares of Edwards Lifesciences Co. (NYSE:EWFree Report) by 82.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 409 shares of the medical research company’s stock after selling 1,968 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Edwards Lifesciences were worth $39,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of EW. Vanguard Group Inc. boosted its position in Edwards Lifesciences by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 52,363,400 shares of the medical research company’s stock worth $3,992,709,000 after purchasing an additional 729,984 shares during the last quarter. Brown Advisory Inc. boosted its position in Edwards Lifesciences by 20.1% in the fourth quarter. Brown Advisory Inc. now owns 18,181,420 shares of the medical research company’s stock worth $1,386,333,000 after purchasing an additional 3,048,274 shares during the last quarter. Wellington Management Group LLP boosted its position in Edwards Lifesciences by 2.4% in the fourth quarter. Wellington Management Group LLP now owns 16,827,510 shares of the medical research company’s stock worth $1,283,098,000 after purchasing an additional 393,109 shares during the last quarter. Norges Bank bought a new stake in shares of Edwards Lifesciences in the fourth quarter valued at $648,540,000. Finally, Northern Trust Corp raised its stake in shares of Edwards Lifesciences by 3.9% in the third quarter. Northern Trust Corp now owns 6,357,473 shares of the medical research company’s stock valued at $440,446,000 after buying an additional 241,347 shares during the period. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on EW. Piper Sandler boosted their target price on Edwards Lifesciences from $85.00 to $88.00 and gave the company a “neutral” rating in a research note on Friday, April 26th. Oppenheimer boosted their target price on Edwards Lifesciences from $93.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, March 18th. Citigroup boosted their target price on Edwards Lifesciences from $90.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Morgan Stanley boosted their price objective on Edwards Lifesciences from $95.00 to $103.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. Finally, Evercore ISI decreased their price objective on Edwards Lifesciences from $92.00 to $89.00 and set an “in-line” rating on the stock in a research note on Friday, April 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Edwards Lifesciences currently has an average rating of “Moderate Buy” and a consensus price target of $93.88.

Check Out Our Latest Research Report on EW

Edwards Lifesciences Price Performance

Shares of EW traded up $0.56 during midday trading on Tuesday, reaching $90.34. The stock had a trading volume of 2,283,863 shares, compared to its average volume of 3,591,521. The company’s 50-day moving average is $89.94 and its 200 day moving average is $81.28. Edwards Lifesciences Co. has a 12-month low of $60.57 and a 12-month high of $96.12. The company has a current ratio of 3.75, a quick ratio of 2.67 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $54.44 billion, a price-to-earnings ratio of 38.94, a price-to-earnings-growth ratio of 3.26 and a beta of 1.10.

Edwards Lifesciences (NYSE:EWGet Free Report) last posted its quarterly earnings data on Thursday, April 25th. The medical research company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. Edwards Lifesciences had a return on equity of 22.86% and a net margin of 23.01%. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.58 billion. On average, equities analysts predict that Edwards Lifesciences Co. will post 2.77 EPS for the current fiscal year.

Insider Transactions at Edwards Lifesciences

In other news, VP Daveen Chopra sold 8,200 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $86.74, for a total value of $711,268.00. Following the completion of the transaction, the vice president now directly owns 22,750 shares in the company, valued at approximately $1,973,335. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Daveen Chopra sold 8,200 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $86.74, for a total transaction of $711,268.00. Following the completion of the sale, the vice president now directly owns 22,750 shares in the company, valued at approximately $1,973,335. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Scott B. Ullem sold 7,255 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $85.59, for a total value of $620,955.45. Following the sale, the chief financial officer now owns 19,074 shares of the company’s stock, valued at $1,632,543.66. The disclosure for this sale can be found here. In the last three months, insiders sold 191,965 shares of company stock worth $17,013,993. 1.27% of the stock is currently owned by corporate insiders.

Edwards Lifesciences Company Profile

(Free Report)

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.

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

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