Edwards Lifesciences Co. (NYSE:EW) Shares Bought by Townsend & Associates Inc

Townsend & Associates Inc lifted its holdings in Edwards Lifesciences Co. (NYSE:EW) by 3.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 180,751 shares of the medical research company’s stock after acquiring an additional 5,773 shares during the quarter. Townsend & Associates Inc’s holdings in Edwards Lifesciences were worth $12,647,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in EW. Alpha Financial Partners LLC acquired a new position in shares of Edwards Lifesciences in the 3rd quarter worth approximately $693,000. Eastern Bank purchased a new position in shares of Edwards Lifesciences in the third quarter worth approximately $98,000. International Assets Investment Management LLC increased its position in shares of Edwards Lifesciences by 10,990.6% in the third quarter. International Assets Investment Management LLC now owns 163,919 shares of the medical research company’s stock worth $10,817,000 after acquiring an additional 162,441 shares in the last quarter. Mount Yale Investment Advisors LLC increased its position in shares of Edwards Lifesciences by 41.0% in the third quarter. Mount Yale Investment Advisors LLC now owns 8,401 shares of the medical research company’s stock worth $554,000 after acquiring an additional 2,441 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC increased its position in shares of Edwards Lifesciences by 8.1% in the third quarter. Legacy Wealth Asset Management LLC now owns 21,649 shares of the medical research company’s stock worth $1,429,000 after acquiring an additional 1,615 shares in the last quarter. Institutional investors and hedge funds own 79.46% of the company’s stock.

Insider Transactions at Edwards Lifesciences

In other news, CFO Scott B. Ullem sold 11,250 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $75.76, for a total value of $852,300.00. Following the completion of the sale, the chief financial officer now directly owns 30,561 shares in the company, valued at approximately $2,315,301.36. The trade was a 26.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Daniel J. Lippis sold 500 shares of the business’s stock in a transaction on 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 sale, the vice president now owns 23,189 shares of the company’s stock, valued at $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. Over the last three months, insiders sold 26,489 shares of company stock worth $2,002,829. 1.29% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on EW. The Goldman Sachs Group lifted their target price on shares of Edwards Lifesciences from $81.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Daiwa America downgraded shares of Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Piper Sandler lifted their target price on shares of Edwards Lifesciences from $70.00 to $73.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Bank of America raised shares of Edwards Lifesciences from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $82.00 to $90.00 in a research report on Monday, December 16th. Finally, Wolfe Research downgraded shares of Edwards Lifesciences from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $79.95.

Edwards Lifesciences Price Performance

NYSE EW opened at $73.25 on Friday. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $43.20 billion, a PE ratio of 10.51, a price-to-earnings-growth ratio of 4.82 and a beta of 1.10. The company has a 50 day moving average price of $72.85 and a two-hundred day moving average price of $70.00. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $96.12.

Edwards Lifesciences (NYSE:EW) last posted its earnings results on Tuesday, February 11th. The medical research company reported $0.59 earnings per share (EPS) 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, equities analysts predict that Edwards Lifesciences Co. will post 2.45 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.