Cinctive Capital Management LP Takes Position in Edwards Lifesciences Co. (NYSE:EW)

Cinctive Capital Management LP acquired a new stake in shares of Edwards Lifesciences Co. (NYSE:EW) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 55,960 shares of the medical research company’s stock, valued at approximately $3,693,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EW. First Community Trust NA purchased a new stake in Edwards Lifesciences during the 2nd quarter valued at $29,000. Webster Bank N. A. bought a new stake in shares of Edwards Lifesciences in the second quarter worth $39,000. FSA Wealth Management LLC purchased a new stake in Edwards Lifesciences during the third quarter valued at $30,000. Prospera Private Wealth LLC bought a new position in Edwards Lifesciences in the third quarter valued at about $32,000. Finally, Avior Wealth Management LLC boosted its position in Edwards Lifesciences by 138.7% in the third 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 during the last quarter. Institutional investors own 79.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on EW shares. Daiwa America lowered shares of Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Barclays increased their price target on shares of Edwards Lifesciences from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday. Robert W. Baird cut their price objective on shares of Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Wells Fargo & Company reduced their price objective on Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Monday, September 9th. Finally, Truist Financial lowered their target price on Edwards Lifesciences from $71.00 to $70.00 and set a “hold” rating on the stock in a research report on Friday, October 25th. Seventeen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Edwards Lifesciences currently has an average rating of “Hold” and an average target price of $77.25.

Edwards Lifesciences Price Performance

EW stock opened at $70.53 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46. The company’s fifty day moving average price is $68.10 and its 200-day moving average price is $75.05. Edwards Lifesciences Co. has a one year low of $58.93 and a one year high of $96.12. The company has a market capitalization of $41.60 billion, a PE ratio of 10.18, a price-to-earnings-growth ratio of 4.01 and a beta of 1.12.

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

Insider Activity at Edwards Lifesciences

In other news, insider Larry L. Wood sold 25,000 shares of Edwards Lifesciences stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 198,526 shares in the company, valued at approximately $13,084,848.66. The trade was a 11.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $66.77, for a total value of $333,850.00. Following the sale, the vice president now owns 46,936 shares in the company, valued at $3,133,916.72. The trade was a 9.63 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,000 shares of company stock valued at $2,657,000. Insiders own 1.27% of the company’s stock.

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.