BankPlus Trust Department Takes $844,000 Position in Edwards Lifesciences Co. (NYSE:EW)

BankPlus Trust Department purchased a new position in shares of Edwards Lifesciences Co. (NYSE:EW) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 11,401 shares of the medical research company’s stock, valued at approximately $844,000.

Several other hedge funds also recently added to or reduced their stakes in EW. Wellington Management Group LLP boosted its position in shares of Edwards Lifesciences by 86.3% during the third quarter. Wellington Management Group LLP now owns 31,532,725 shares of the medical research company’s stock valued at $2,080,845,000 after buying an additional 14,610,123 shares during the period. State Street Corp lifted its stake in shares of Edwards Lifesciences by 1.0% during the 3rd quarter. State Street Corp now owns 26,265,633 shares of the medical research company’s stock worth $1,733,270,000 after acquiring an additional 256,538 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Edwards Lifesciences by 2.2% during the third quarter. Geode Capital Management LLC now owns 13,521,147 shares of the medical research company’s stock valued at $889,050,000 after purchasing an additional 284,918 shares during the period. Fisher Asset Management LLC grew its stake in Edwards Lifesciences by 9.8% in the 3rd quarter. Fisher Asset Management LLC now owns 9,078,311 shares of the medical research company’s stock worth $599,078,000 after acquiring an additional 806,705 shares in the last quarter. Finally, Jennison Associates LLC purchased a new position in shares of Edwards Lifesciences during the fourth quarter worth approximately $555,939,000. 79.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on EW. Morgan Stanley boosted their price target on shares of Edwards Lifesciences from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. Wolfe Research lowered Edwards Lifesciences from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 12th. Daiwa America downgraded shares of Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. Truist Financial restated a “hold” rating and issued a $78.00 price target (up from $70.00) on shares of Edwards Lifesciences in a report on Thursday, December 5th. Finally, Citigroup boosted their price objective 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 investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $79.95.

Edwards Lifesciences Stock Performance

EW opened at $73.25 on Monday. The firm has a 50 day moving average of $72.85 and a two-hundred day moving average of $70.06. The firm has a market capitalization of $43.20 billion, a PE ratio of 10.51, a P/E/G ratio of 4.82 and a beta of 1.11. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. 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%. On average, analysts anticipate that Edwards Lifesciences Co. will post 2.45 EPS for the current year.

Insider Activity

In related 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 transaction, the chief financial officer now directly owns 30,561 shares in the company, valued at $2,315,301.36. The trade was a 26.91 % decrease in their position. The transaction 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 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 sale, the vice president now directly owns 23,189 shares in the company, valued at $1,594,475.64. This trade represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,489 shares of company stock valued at $2,002,829 in the last quarter. 1.29% of the stock is currently owned by company 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.