GraniteShares Advisors LLC Trims Holdings in Edwards Lifesciences Co. (NYSE:EW)

GraniteShares Advisors LLC trimmed its position in Edwards Lifesciences Co. (NYSE:EW) by 17.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,354 shares of the medical research company’s stock after selling 2,132 shares during the quarter. GraniteShares Advisors LLC’s holdings in Edwards Lifesciences were worth $767,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of EW. Lake Street Advisors Group LLC grew its holdings in Edwards Lifesciences by 17.8% during the fourth quarter. Lake Street Advisors Group LLC now owns 3,661 shares of the medical research company’s stock worth $271,000 after acquiring an additional 552 shares during the period. JFG Wealth Management LLC acquired a new stake in Edwards Lifesciences in the fourth quarter valued at approximately $295,000. Los Angeles Capital Management LLC acquired a new stake in Edwards Lifesciences in the fourth quarter valued at approximately $220,000. Prasad Wealth Partners LLC acquired a new stake in Edwards Lifesciences in the fourth quarter valued at approximately $277,000. Finally, BankPlus Trust Department acquired a new stake in Edwards Lifesciences in the fourth quarter valued at approximately $844,000. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Scott B. Ullem sold 11,250 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $75.76, for a total transaction of $852,300.00. Following the transaction, the chief financial officer now owns 30,561 shares of the company’s stock, valued at approximately $2,315,301.36. This represents a 26.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Daniel J. Lippis sold 2,500 shares of the 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 transaction, the vice president now directly owns 23,189 shares in the company, valued at approximately $1,717,841.12. The trade was a 9.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,489 shares of company stock valued at $2,002,829 in the last quarter. Insiders own 1.29% of the company’s stock.

Edwards Lifesciences Stock Performance

NYSE EW opened at $71.46 on Wednesday. The stock’s fifty day moving average is $72.78 and its two-hundred day moving average is $70.18. The firm has a market capitalization of $42.15 billion, a P/E ratio of 10.25, a price-to-earnings-growth ratio of 4.82 and a beta of 1.11. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $96.12.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Tuesday, February 11th. The medical research company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.55 by $0.04. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. On average, research analysts anticipate that Edwards Lifesciences Co. will post 2.45 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Truist Financial reissued a “hold” rating and issued a $78.00 price objective (up from $70.00) on shares of Edwards Lifesciences in a report on Thursday, December 5th. Canaccord Genuity Group raised their price objective on Edwards Lifesciences from $68.00 to $71.00 and gave the company a “hold” rating in a report on Thursday, February 13th. Morgan Stanley raised their price objective on Edwards Lifesciences from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. Barclays boosted their price target on Edwards Lifesciences from $88.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Finally, Stifel Nicolaus upgraded Edwards Lifesciences from a “hold” rating to a “buy” rating and boosted their price target for the stock from $75.00 to $90.00 in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $79.95.

Edwards Lifesciences 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.