Advisory Services Network LLC Has $2.03 Million Stock Position in Edwards Lifesciences Co. (NYSE:EW)

Advisory Services Network LLC grew its holdings in Edwards Lifesciences Co. (NYSE:EW - Free Report) by 69.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,429 shares of the medical research company's stock after purchasing an additional 11,263 shares during the period. Advisory Services Network LLC's holdings in Edwards Lifesciences were worth $2,031,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other news, VP Daniel J. Lippis sold 400 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $69.48, for a total value of $27,792.00. Following the completion of the sale, the vice president now directly owns 22,588 shares in the company, valued at approximately $1,569,414.24. This trade represents a 1.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Bernard J. Zovighian sold 6,164 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $69.51, for a total transaction of $428,459.64. Following the transaction, the chief executive officer now owns 59,083 shares in the company, valued at approximately $4,106,859.33. This trade represents a 9.45 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,853 shares of company stock valued at $5,163,062. 1.29% of the stock is currently owned by insiders.

Edwards Lifesciences Price Performance

Shares of EW stock traded up $0.84 during trading hours on Thursday, hitting $72.04. The company had a trading volume of 1,036,800 shares, compared to its average volume of 4,903,283. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46. The firm has a market capitalization of $42.35 billion, a price-to-earnings ratio of 10.33, a PEG ratio of 4.82 and a beta of 1.15. Edwards Lifesciences Co. has a 12 month low of $58.93 and a 12 month high of $95.25. The firm's fifty day moving average is $71.29 and its 200 day moving average is $70.76.

Edwards Lifesciences (NYSE:EW - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The medical research company reported $0.59 earnings per share (EPS) 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, sell-side analysts predict that Edwards Lifesciences Co. will post 2.45 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on EW. Evercore ISI lowered their price objective on Edwards Lifesciences from $75.00 to $73.00 and set an "in-line" rating on the stock in a report on Wednesday, February 12th. Truist Financial lowered their price target on Edwards Lifesciences from $78.00 to $75.00 and set a "hold" rating on the stock in a report on Friday, April 11th. Barclays boosted their price objective on shares of Edwards Lifesciences from $88.00 to $90.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Stifel Nicolaus upgraded shares of Edwards Lifesciences from a "hold" rating to a "buy" rating and raised their target price for the company from $75.00 to $90.00 in a research note on Thursday, January 30th. Finally, Piper Sandler boosted their target price on shares of Edwards Lifesciences from $70.00 to $73.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $78.55.

About Edwards Lifesciences

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.