Cinctive Capital Management LP Acquires 92,963 Shares of Edwards Lifesciences Co. (NYSE:EW)

Cinctive Capital Management LP raised its position in shares of Edwards Lifesciences Co. (NYSE:EW - Free Report) by 166.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 148,923 shares of the medical research company's stock after purchasing an additional 92,963 shares during the period. Cinctive Capital Management LP's holdings in Edwards Lifesciences were worth $11,025,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in EW. Wellington Management Group LLP lifted its position in shares of Edwards Lifesciences by 86.3% during the third quarter. Wellington Management Group LLP now owns 31,532,725 shares of the medical research company's stock worth $2,080,845,000 after acquiring an additional 14,610,123 shares in the last quarter. Norges Bank bought a new stake in shares of Edwards Lifesciences during the 4th quarter valued at $610,895,000. Jennison Associates LLC purchased a new stake in Edwards Lifesciences during the 4th quarter worth about $555,939,000. Vanguard Group Inc. boosted its stake in Edwards Lifesciences by 10.4% in 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 purchasing an additional 6,537,494 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in Edwards Lifesciences by 475.8% during the 4th 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. 79.46% of the stock is currently owned by institutional investors.

Insider Activity at Edwards Lifesciences

In other Edwards Lifesciences news, Director Steven R. Loranger sold 5,739 shares of the firm's stock in a transaction dated Friday, February 14th. The shares were 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 directly owns 60,372 shares in the company, valued at $4,613,628.24. This trade represents a 8.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Bernard J. Zovighian sold 6,164 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $69.51, for a total value of $428,459.64. Following the transaction, the chief executive officer now owns 59,083 shares in the company, valued at $4,106,859.33. This trade represents a 9.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 62,553 shares of company stock worth $4,513,064 over the last quarter. Corporate insiders own 1.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on EW. Barclays increased their price target on shares of Edwards Lifesciences from $88.00 to $90.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Piper Sandler increased their target price on shares of Edwards Lifesciences from $70.00 to $73.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. Wolfe Research lowered shares of Edwards Lifesciences from a "hold" rating to a "strong sell" rating in a research report on Wednesday, February 12th. Bank of America upgraded Edwards Lifesciences from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $82.00 to $90.00 in a research report on Monday, December 16th. Finally, Morgan Stanley boosted their target price on Edwards Lifesciences from $70.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $79.95.

Edwards Lifesciences Trading Down 1.8 %

Shares of NYSE:EW traded down $1.24 during midday trading on Monday, hitting $68.12. 2,431,892 shares of the stock traded hands, compared to its average volume of 4,555,371. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06. The business's 50 day moving average is $71.74 and its two-hundred day moving average is $70.66. The stock has a market capitalization of $40.05 billion, a PE ratio of 9.76, a P/E/G ratio of 4.82 and a beta of 1.15. Edwards Lifesciences Co. has a one year low of $58.93 and a one year high of $95.25.

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 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%. As a group, research analysts forecast that Edwards Lifesciences Co. will post 2.45 earnings per share for the current year.

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.