Eversept Partners LP Takes Position in Edwards Lifesciences Co. (NYSE:EW)

Eversept Partners LP purchased a new stake in Edwards Lifesciences Co. (NYSE:EW) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 170,678 shares of the medical research company’s stock, valued at approximately $12,635,000. Edwards Lifesciences comprises approximately 1.1% of Eversept Partners LP’s investment portfolio, making the stock its 18th biggest position.

Other institutional investors have also modified their holdings of the company. Crowley Wealth Management Inc. acquired a new position in Edwards Lifesciences in the 4th quarter worth about $26,000. Millstone Evans Group LLC purchased a new stake in Edwards Lifesciences during the 4th quarter worth about $29,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Edwards Lifesciences during the fourth quarter worth about $30,000. Roble Belko & Company Inc acquired a new position in Edwards Lifesciences in the fourth quarter valued at $46,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Edwards Lifesciences in the 4th quarter worth $54,000. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Stock Down 3.2 %

Shares of NYSE EW opened at $69.23 on Tuesday. The stock has a market capitalization of $40.70 billion, a P/E ratio of 9.93, a PEG ratio of 4.82 and a beta of 1.15. Edwards Lifesciences Co. has a one year low of $58.93 and a one year high of $95.25. The firm’s 50 day simple moving average is $71.18 and its two-hundred day simple moving average is $70.95. 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 (NYSE:EW) last issued its quarterly 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, analysts expect that Edwards Lifesciences Co. will post 2.45 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Daniel J. Lippis sold 400 shares of Edwards Lifesciences stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $69.48, for a total value of $27,792.00. Following the completion of the transaction, the vice president now owns 22,588 shares in the company, valued at approximately $1,569,414.24. This trade represents a 1.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Scott B. Ullem sold 11,250 shares of the firm’s 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 completion of the sale, the chief financial officer now directly owns 30,561 shares of the company’s stock, valued at approximately $2,315,301.36. The trade was a 26.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,853 shares of company stock valued at $5,163,062 over the last 90 days. Company insiders own 1.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Stifel Nicolaus upgraded Edwards Lifesciences from a “hold” rating to a “buy” rating and upped their price objective for the company from $75.00 to $90.00 in a research report on Thursday, January 30th. Barclays increased their target price on Edwards Lifesciences from $88.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Truist Financial lowered their price objective on Edwards Lifesciences from $78.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, April 11th. Piper Sandler upped their price target on Edwards Lifesciences from $70.00 to $73.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $85.00 price target on shares of Edwards Lifesciences in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Edwards Lifesciences currently has a consensus rating of “Hold” and a consensus target price of $78.55.

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.