Proficio Capital Partners LLC Makes New $8.46 Million Investment in Edwards Lifesciences Co. (NYSE:EW)

Proficio Capital Partners LLC purchased a new position in shares of Edwards Lifesciences Co. (NYSE:EW - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 114,228 shares of the medical research company's stock, valued at approximately $8,456,000.

Several other hedge funds and other institutional investors have also made changes to their positions in EW. Oppenheimer Asset Management Inc. boosted its stake in shares of Edwards Lifesciences by 37.3% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 17,574 shares of the medical research company's stock valued at $1,301,000 after acquiring an additional 4,770 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Edwards Lifesciences by 57.2% during the 4th quarter. Oppenheimer & Co. Inc. now owns 60,041 shares of the medical research company's stock worth $4,445,000 after purchasing an additional 21,855 shares during the last quarter. Nwam LLC grew its holdings in shares of Edwards Lifesciences by 7.4% during the fourth quarter. Nwam LLC now owns 11,353 shares of the medical research company's stock worth $840,000 after buying an additional 785 shares in the last quarter. Lake Street Advisors Group LLC raised its position in shares of Edwards Lifesciences by 17.8% in the fourth quarter. Lake Street Advisors Group LLC now owns 3,661 shares of the medical research company's stock valued at $271,000 after buying an additional 552 shares during the last quarter. Finally, JFG Wealth Management LLC purchased a new position in shares of Edwards Lifesciences during the fourth quarter valued at approximately $295,000. Institutional investors and hedge funds own 79.46% of the company's stock.

Remove Ads

Insider Transactions at Edwards Lifesciences

In other news, CFO Scott B. Ullem sold 11,250 shares of the company's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $75.76, for a total transaction of $852,300.00. Following the completion of the sale, the chief financial officer now directly owns 30,561 shares of the company's stock, valued at $2,315,301.36. This represents a 26.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Daniel J. Lippis sold 500 shares of the firm's stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $68.76, for a total transaction of $34,380.00. Following the completion of the transaction, the vice president now owns 23,189 shares of the company's stock, valued at approximately $1,594,475.64. The trade was a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,739 shares of company stock valued at $2,799,104 in the last quarter. Insiders own 1.29% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on EW shares. Piper Sandler raised their price objective on Edwards Lifesciences from $70.00 to $73.00 and gave the stock a "neutral" rating in a 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 for the company in a report on Wednesday, February 12th. Truist Financial reiterated a "hold" rating and set a $78.00 price objective (up from $70.00) on shares of Edwards Lifesciences in a report on Thursday, December 5th. Wolfe Research downgraded shares of Edwards Lifesciences from a "hold" rating to a "strong sell" rating in a report on Wednesday, February 12th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $85.00 price target on shares of Edwards Lifesciences in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $79.95.

Edwards Lifesciences Stock Performance

EW stock traded down $1.19 during trading on Thursday, reaching $71.66. 2,027,583 shares of the company's stock were exchanged, compared to its average volume of 4,413,320. The firm has a market cap of $42.27 billion, a PE ratio of 10.28, a P/E/G ratio of 4.82 and a beta of 1.10. The company has a quick ratio of 2.89, a current ratio of 3.46 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 $96.12. The company's fifty day moving average price is $72.45 and its 200-day moving average price is $70.35.

Edwards Lifesciences (NYSE:EW - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The medical research company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.04. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. On average, research analysts expect that Edwards Lifesciences Co. will post 2.45 EPS for the current fiscal year.

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.