Edwards Lifesciences Co. (NYSE:EW) Shares Purchased by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. raised its stake in Edwards Lifesciences Co. (NYSE:EW - Free Report) by 46.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,223,893 shares of the medical research company's stock after buying an additional 389,141 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.21% of Edwards Lifesciences worth $90,605,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in EW. Harbor Capital Advisors Inc. lifted its stake in Edwards Lifesciences by 2.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 11,135 shares of the medical research company's stock worth $824,000 after acquiring an additional 273 shares during the period. Nordea Investment Management AB raised its holdings in shares of Edwards Lifesciences by 34.6% in the 4th quarter. Nordea Investment Management AB now owns 4,057,013 shares of the medical research company's stock valued at $301,355,000 after purchasing an additional 1,043,484 shares in the last quarter. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST lifted its position in shares of Edwards Lifesciences by 6.7% in the 4th quarter. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST now owns 4,800,000 shares of the medical research company's stock worth $355,344,000 after purchasing an additional 300,000 shares during the period. Sivik Global Healthcare LLC bought a new position in shares of Edwards Lifesciences during the fourth quarter valued at approximately $3,702,000. Finally, Avanza Fonder AB purchased a new position in Edwards Lifesciences during the fourth quarter valued at approximately $4,845,000. 79.46% of the stock is currently owned by institutional investors.

Edwards Lifesciences Stock Performance

EW traded up $0.93 during midday trading on Friday, hitting $76.06. 6,330,152 shares of the company were exchanged, compared to its average volume of 4,990,356. The firm has a market capitalization of $44.71 billion, a price-to-earnings ratio of 10.91, a price-to-earnings-growth ratio of 4.82 and a beta of 1.15. The company's 50 day simple moving average is $70.94 and its 200 day simple moving average is $71.09. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. 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 posted its earnings results on Wednesday, April 23rd. The medical research company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.60 by $0.04. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the company earned $0.66 earnings per share. As a group, sell-side analysts predict that Edwards Lifesciences Co. will post 2.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on EW. Wolfe Research cut Edwards Lifesciences from a "hold" rating to a "strong sell" rating in a research report on Wednesday, February 12th. Barclays raised their price objective on Edwards Lifesciences from $88.00 to $90.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Canaccord Genuity Group increased their price target on shares of Edwards Lifesciences from $71.00 to $75.00 and gave the company a "hold" rating in a research report on Friday. Truist Financial lowered their price target on shares of Edwards Lifesciences from $78.00 to $75.00 and set a "hold" rating on the stock in a report on Friday, April 11th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $85.00 target price on shares of Edwards Lifesciences in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $79.45.

Insider Activity at Edwards Lifesciences

In other news, VP Donald E. Bobo, Jr. sold 9,500 shares of Edwards Lifesciences stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $67.96, for a total value of $645,620.00. Following the sale, the vice president now owns 46,936 shares in the company, valued at $3,189,770.56. This trade represents a 16.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Steven R. Loranger sold 5,739 shares of Edwards Lifesciences stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $76.42, for a total value of $438,574.38. Following the completion of the sale, the director now owns 60,372 shares in the company, valued at approximately $4,613,628.24. The trade was a 8.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,853 shares of company stock worth $5,163,062. 0.34% of the stock is owned by company 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.