Independent Advisor Alliance Invests $374,000 in Edwards Lifesciences Co. (NYSE:EW)

Independent Advisor Alliance acquired a new stake in Edwards Lifesciences Co. (NYSE:EW - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,047 shares of the medical research company's stock, valued at approximately $374,000.

Several other hedge funds also recently modified their holdings of EW. Wellington Management Group LLP lifted its position in Edwards Lifesciences by 86.3% in 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 purchasing an additional 14,610,123 shares during the period. State Street Corp increased its stake in shares of Edwards Lifesciences by 1.0% in the third quarter. State Street Corp now owns 26,265,633 shares of the medical research company's stock valued at $1,733,270,000 after buying an additional 256,538 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Edwards Lifesciences by 2.2% in the third quarter. Geode Capital Management LLC now owns 13,521,147 shares of the medical research company's stock valued at $889,050,000 after buying an additional 284,918 shares in the last quarter. Fisher Asset Management LLC increased its position in Edwards Lifesciences by 7.7% in the fourth quarter. Fisher Asset Management LLC now owns 9,775,276 shares of the medical research company's stock worth $723,664,000 after purchasing an additional 696,965 shares during the period. Finally, Jennison Associates LLC acquired a new stake in Edwards Lifesciences in the fourth quarter worth about $555,939,000. 79.46% of the stock is owned by institutional investors.

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Insider Activity

In other news, CEO Bernard J. Zovighian sold 6,164 shares of Edwards Lifesciences 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 sale, the chief executive officer now directly owns 59,083 shares of the company's stock, valued at approximately $4,106,859.33. This trade represents a 9.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 directly owns 46,936 shares in the company, valued at $3,189,770.56. The trade was a 16.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,303 shares of company stock valued at $3,715,776. 1.29% of the stock is currently owned by corporate insiders.

Edwards Lifesciences Price Performance

NYSE:EW traded down $0.50 during trading hours on Friday, hitting $70.46. The company's stock had a trading volume of 7,144,270 shares, compared to its average volume of 4,607,998. The stock has a fifty day simple moving average of $71.42 and a 200-day simple moving average of $70.36. The company has a market capitalization of $41.42 billion, a P/E ratio of 10.11, a PEG ratio of 4.82 and a beta of 1.12. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89. Edwards Lifesciences Co. has a twelve month low of $58.93 and a twelve month high of $96.12.

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, beating 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, analysts anticipate that Edwards Lifesciences Co. will post 2.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EW. Stifel Nicolaus upgraded Edwards Lifesciences from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $75.00 to $90.00 in a research report on Thursday, January 30th. Piper Sandler boosted their price target on Edwards Lifesciences from $70.00 to $73.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 12th. Evercore ISI lowered their price target on Edwards Lifesciences from $75.00 to $73.00 and set an "in-line" rating on the stock in a research report on Wednesday, February 12th. Barclays increased their price target on Edwards Lifesciences from $88.00 to $90.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Finally, Morgan Stanley increased their price target on Edwards Lifesciences from $70.00 to $75.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $79.95.

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.