Eversept Partners LP Buys Shares of 170,678 Edwards Lifesciences Co. (NYSE:EW)

Eversept Partners LP acquired a new stake in Edwards Lifesciences Co. (NYSE:EW - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 170,678 shares of the medical research company's stock, valued at approximately $12,635,000. Edwards Lifesciences makes up about 1.1% of Eversept Partners LP's investment portfolio, making the stock its 18th largest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EW. Abacus Planning Group Inc. lifted its position in Edwards Lifesciences by 0.3% in the fourth quarter. Abacus Planning Group Inc. now owns 40,207 shares of the medical research company's stock valued at $2,977,000 after buying an additional 140 shares during the last quarter. Bowman & Co S.C. boosted its position in shares of Edwards Lifesciences by 1.2% during the 4th quarter. Bowman & Co S.C. now owns 12,487 shares of the medical research company's stock worth $924,000 after purchasing an additional 148 shares during the period. Moors & Cabot Inc. increased its holdings in Edwards Lifesciences by 0.3% in the 4th quarter. Moors & Cabot Inc. now owns 54,589 shares of the medical research company's stock valued at $4,041,000 after purchasing an additional 152 shares during the last quarter. Quadrant Capital Group LLC raised its position in Edwards Lifesciences by 3.1% in the fourth quarter. Quadrant Capital Group LLC now owns 5,180 shares of the medical research company's stock valued at $383,000 after purchasing an additional 156 shares during the period. Finally, Pegasus Asset Management Inc. lifted its stake in Edwards Lifesciences by 0.4% during the fourth quarter. Pegasus Asset Management Inc. now owns 42,628 shares of the medical research company's stock worth $3,156,000 after purchasing an additional 159 shares in the last quarter. Institutional investors and hedge funds own 79.46% of the company's stock.

Edwards Lifesciences Stock Performance

Shares of NYSE EW traded up $4.69 during trading hours on Thursday, reaching $75.15. The stock had a trading volume of 11,705,304 shares, compared to its average volume of 4,982,175. The firm has a market cap of $44.18 billion, a price-to-earnings ratio of 10.78, a PEG ratio of 4.82 and a beta of 1.15. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $95.25. The firm has a 50-day moving average of $70.93 and a 200-day moving average of $71.02. 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 (NYSE:EW - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.04. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.40 billion. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. During the same period last year, the firm posted $0.66 earnings per share. Equities research analysts predict that Edwards Lifesciences Co. will post 2.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Barclays boosted their price objective on Edwards Lifesciences from $88.00 to $90.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Canaccord Genuity Group increased their price target on shares of Edwards Lifesciences from $68.00 to $71.00 and gave the stock a "hold" rating in a research report on Thursday, February 13th. Piper Sandler upgraded shares of Edwards Lifesciences from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $73.00 to $80.00 in a report on Thursday. Stifel Nicolaus upgraded shares of Edwards Lifesciences from a "hold" rating to a "buy" rating and increased their target price for the stock from $75.00 to $90.00 in a report on Thursday, January 30th. Finally, Evercore ISI dropped their price target on shares of 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. One research 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, the stock currently has an average rating of "Hold" and a consensus target price of $79.25.

Insider Buying and Selling

In related news, VP Donald E. Bobo, Jr. sold 9,500 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $69.81, for a total transaction of $663,195.00. Following the completion of the transaction, the vice president now directly owns 47,206 shares of the company's stock, valued at $3,295,450.86. This represents a 16.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Steven R. Loranger sold 5,739 shares of Edwards Lifesciences stock in a transaction that occurred on 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 represents a 8.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,853 shares of company stock valued at $5,163,062 over the last quarter. 0.34% of the stock is currently owned by insiders.

Edwards Lifesciences 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.