Zurcher Kantonalbank Zurich Cantonalbank Acquires 40,348 Shares of Edwards Lifesciences Co. (NYSE:EW)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 9.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 478,418 shares of the medical research company’s stock after buying an additional 40,348 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.08% of Edwards Lifesciences worth $31,571,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of EW. First Community Trust NA bought a new position in Edwards Lifesciences during the second quarter worth $29,000. Prospera Private Wealth LLC acquired a new position in shares of Edwards Lifesciences during the third quarter valued at about $32,000. Avior Wealth Management LLC boosted its position 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 worth $35,000 after purchasing an additional 308 shares in the last quarter. Webster Bank N. A. acquired a new stake in shares of Edwards Lifesciences in the 2nd quarter valued at about $39,000. Finally, Peoples Bank KS bought a new stake in Edwards Lifesciences in the 3rd quarter valued at about $40,000. 79.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on EW. Citigroup reduced their price objective on Edwards Lifesciences from $83.00 to $77.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. Wells Fargo & Company decreased their price target on Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday, September 9th. Piper Sandler decreased their price objective on shares of Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Royal Bank of Canada increased their target price on shares of Edwards Lifesciences from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Truist Financial decreased their price target on shares of Edwards Lifesciences from $71.00 to $70.00 and set a “hold” rating for the company in a research note on Friday, October 25th. Seventeen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Edwards Lifesciences has an average rating of “Hold” and a consensus target price of $76.85.

Insider Buying and Selling

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $69.51, for a total value of $347,550.00. Following the transaction, the vice president now owns 46,936 shares of the company’s stock, valued at $3,262,521.36. This represents a 9.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Larry L. Wood sold 25,000 shares of Edwards Lifesciences stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $65.91, for a total value of $1,647,750.00. Following the sale, the insider now directly owns 198,526 shares of the company’s stock, valued at approximately $13,084,848.66. This trade represents a 11.18 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,000 shares of company stock worth $2,657,000. Insiders own 1.27% of the company’s stock.

Edwards Lifesciences Stock Up 0.7 %

EW opened at $72.07 on Friday. 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 one year low of $58.93 and a one year high of $96.12. The firm has a market capitalization of $42.51 billion, a P/E ratio of 10.40, a price-to-earnings-growth ratio of 4.01 and a beta of 1.12. The company has a fifty day moving average price of $68.01 and a 200-day moving average price of $75.32.

Edwards Lifesciences (NYSE:EW) last posted its earnings results on Thursday, October 24th. The medical research company reported $0.67 EPS for the quarter, hitting the consensus estimate of $0.67. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same period in the previous year, the business earned $0.59 earnings per share. The firm’s revenue was up 8.9% on a year-over-year basis. Equities research analysts expect that Edwards Lifesciences Co. will post 2.57 earnings per share for the current fiscal 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.