Simplify Asset Management Inc. Takes $5.98 Million Position in Edwards Lifesciences Co. (NYSE:EW)

Simplify Asset Management Inc. bought a new position in Edwards Lifesciences Co. (NYSE:EW - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 80,758 shares of the medical research company's stock, valued at approximately $5,979,000. Edwards Lifesciences comprises 0.3% of Simplify Asset Management Inc.'s portfolio, making the stock its 22nd largest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Millstone Evans Group LLC purchased a new stake in Edwards Lifesciences in the fourth quarter valued at $29,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Edwards Lifesciences during the fourth quarter worth about $30,000. FSA Wealth Management LLC purchased a new position in Edwards Lifesciences during the third quarter valued at approximately $30,000. Prospera Private Wealth LLC purchased a new position in Edwards Lifesciences during the third quarter valued at approximately $32,000. Finally, Avior Wealth Management LLC lifted its holdings in Edwards Lifesciences by 138.7% in the third quarter. Avior Wealth Management LLC now owns 530 shares of the medical research company's stock valued at $35,000 after acquiring an additional 308 shares during the period. Institutional investors and hedge funds own 79.46% of the company's stock.

Insiders Place Their Bets

In other news, VP Daniel J. Lippis sold 500 shares of the stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $68.76, for a total value of $34,380.00. Following the transaction, the vice president now owns 23,189 shares in the company, valued at approximately $1,594,475.64. This represents a 2.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Scott B. Ullem sold 11,250 shares of the business's stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $70.87, for a total value of $797,287.50. Following the sale, the chief financial officer now owns 30,387 shares of the company's stock, valued at approximately $2,153,526.69. The trade was a 27.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 62,553 shares of company stock valued at $4,513,064 over the last quarter. 1.29% of the stock is owned by insiders.

Remove Ads

Edwards Lifesciences Trading Up 0.1 %

Shares of NYSE EW traded up $0.08 during trading on Thursday, hitting $71.17. 3,079,151 shares of the company were exchanged, compared to its average volume of 4,622,987. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $96.12. The company has a fifty day moving average price of $71.47 and a 200-day moving average price of $70.46. The firm has a market capitalization of $41.84 billion, a PE ratio of 10.21, a P/E/G ratio of 4.82 and a beta of 1.12.

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group lifted their target price on shares of Edwards Lifesciences from $81.00 to $90.00 and gave the company a "buy" rating in a report on Thursday, December 5th. Evercore ISI cut their price objective on shares of Edwards Lifesciences from $75.00 to $73.00 and set an "in-line" rating for the company in a report on Wednesday, February 12th. Morgan Stanley increased their target price on shares of Edwards Lifesciences from $70.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 12th. Royal Bank of Canada restated an "outperform" rating and set a $85.00 target price on shares of Edwards Lifesciences in a research report on Wednesday, February 12th. Finally, Piper Sandler upped their price target on Edwards Lifesciences from $70.00 to $73.00 and gave the stock a "neutral" rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $79.95.

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.