Raymond James Financial Inc. Takes Position in Edwards Lifesciences Co. (NYSE:EW)

Raymond James Financial Inc. purchased a new position in Edwards Lifesciences Co. (NYSE:EW - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,888,608 shares of the medical research company's stock, valued at approximately $213,844,000. Raymond James Financial Inc. owned approximately 0.49% of Edwards Lifesciences as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. FSA Wealth Management LLC acquired a new stake in Edwards Lifesciences during the 3rd quarter worth about $30,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Edwards Lifesciences in the 4th quarter worth approximately $30,000. Prospera Private Wealth LLC purchased a new position in shares of Edwards Lifesciences during the third quarter worth $32,000. Avior Wealth Management LLC raised its stake in shares of Edwards Lifesciences by 138.7% during the 3rd quarter. Avior Wealth Management LLC now owns 530 shares of the medical research company's stock valued at $35,000 after buying an additional 308 shares during the last quarter. Finally, Roble Belko & Company Inc acquired a new position in Edwards Lifesciences in the fourth quarter valued at approximately $46,000. Institutional investors and hedge funds own 79.46% of the company's stock.

Edwards Lifesciences Stock Down 2.6 %

Shares of EW stock traded down $1.85 on Monday, hitting $68.49. The stock had a trading volume of 4,773,170 shares, compared to its average volume of 4,508,592. The stock's 50 day moving average is $72.26 and its 200-day moving average is $70.39. The firm has a market capitalization of $40.26 billion, a price-to-earnings ratio of 9.83, a P/E/G ratio of 4.82 and a beta of 1.12. Edwards Lifesciences Co. has a 52-week low of $58.93 and a 52-week high of $96.12. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46.

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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 for the quarter, beating analysts' consensus estimates of $0.55 by $0.04. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. As a group, research analysts expect that Edwards Lifesciences Co. will post 2.45 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Canaccord Genuity Group increased their target price on shares of Edwards Lifesciences from $68.00 to $71.00 and gave the stock a "hold" rating in a research note on Thursday, February 13th. Piper Sandler raised their price objective on Edwards Lifesciences from $70.00 to $73.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. Bank of America raised Edwards Lifesciences from a "neutral" rating to a "buy" rating and upped their target price for the stock from $82.00 to $90.00 in a research note on Monday, December 16th. Evercore ISI decreased their price objective on shares of Edwards Lifesciences from $75.00 to $73.00 and set an "in-line" rating on the stock in a report on Wednesday, February 12th. Finally, Citigroup lifted their target price on shares of Edwards Lifesciences from $81.00 to $83.00 and gave the stock a "buy" rating in a research note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $79.95.

Insiders Place Their Bets

In other news, CFO Scott B. Ullem sold 11,250 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $75.76, for a total value of $852,300.00. Following the sale, the chief financial officer now owns 30,561 shares in the company, valued at approximately $2,315,301.36. This represents a 26.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Daniel J. Lippis sold 2,500 shares of Edwards Lifesciences stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $74.08, for a total value of $185,200.00. Following the completion of the transaction, the vice president now owns 23,189 shares of the company's stock, valued at $1,717,841.12. This trade represents a 9.73 % 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 worth $2,799,104 in the last three months. 1.29% of the stock is owned by insiders.

Edwards Lifesciences Company 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.