ExodusPoint Capital Management LP Takes Position in Edwards Lifesciences Co. (NYSE:EW)

ExodusPoint Capital Management LP purchased a new stake in Edwards Lifesciences Co. (NYSE:EW - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 30,428 shares of the medical research company's stock, valued at approximately $2,253,000.

A number of other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Edwards Lifesciences in the fourth quarter valued at approximately $610,895,000. Jennison Associates LLC purchased a new stake in shares of Edwards Lifesciences during the 4th quarter valued at $555,939,000. Vanguard Group Inc. lifted its holdings in shares of Edwards Lifesciences by 10.4% during the 4th quarter. Vanguard Group Inc. now owns 69,132,036 shares of the medical research company's stock worth $5,117,845,000 after acquiring an additional 6,537,494 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Edwards Lifesciences by 475.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 4,243,976 shares of the medical research company's stock worth $314,182,000 after acquiring an additional 3,506,886 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Edwards Lifesciences in the fourth quarter valued at $213,844,000. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on EW shares. Evercore ISI dropped their price target on Edwards Lifesciences from $75.00 to $73.00 and set an "in-line" rating for the company in a research note on Wednesday, February 12th. Barclays boosted their target price on Edwards Lifesciences from $88.00 to $90.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Wolfe Research downgraded shares of Edwards Lifesciences from a "hold" rating to a "strong sell" rating in a research note on Wednesday, February 12th. Stifel Nicolaus raised shares of Edwards Lifesciences from a "hold" rating to a "buy" rating and upped their price objective for the company from $75.00 to $90.00 in a research note on Thursday, January 30th. Finally, Piper Sandler increased their target price on shares of Edwards Lifesciences from $70.00 to $73.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $78.55.

Edwards Lifesciences Stock Up 1.6 %

Shares of EW stock traded up $1.06 during midday trading on Friday, reaching $69.32. 4,890,092 shares of the stock were exchanged, compared to its average volume of 4,907,200. The firm has a market cap of $40.75 billion, a PE ratio of 9.95, a price-to-earnings-growth ratio of 4.82 and a beta of 1.15. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. The company's 50 day moving average is $71.32 and its two-hundred day moving average is $70.70. Edwards Lifesciences Co. has a 1 year low of $58.93 and a 1 year high of $95.25.

Edwards Lifesciences (NYSE:EW - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The medical research company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.04. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. On average, equities research analysts predict that Edwards Lifesciences Co. will post 2.45 EPS for the current year.

Insider Buying and Selling

In other news, VP Daniel J. Lippis sold 500 shares of the firm's stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $68.76, for a total transaction of $34,380.00. Following the completion of the transaction, the vice president now directly owns 23,189 shares in the company, valued at $1,594,475.64. This trade represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Bernard J. Zovighian sold 6,164 shares of Edwards Lifesciences stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $69.51, for a total value of $428,459.64. Following the completion of the transaction, the chief executive officer now directly owns 59,083 shares of the company's stock, valued at approximately $4,106,859.33. This represents a 9.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 62,853 shares of company stock worth $4,534,247 in the last three months. 1.29% of the stock is owned by corporate 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.