Empower Advisory Group LLC Grows Stock Holdings in Edwards Lifesciences Co. (NYSE:EW)

Empower Advisory Group LLC raised its stake in Edwards Lifesciences Co. (NYSE:EW) by 25.8% during the third quarter, Holdings Channel reports. The firm owned 705,878 shares of the medical research company’s stock after purchasing an additional 144,857 shares during the period. Empower Advisory Group LLC’s holdings in Edwards Lifesciences were worth $46,581,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Crewe Advisors LLC acquired a new position in shares of Edwards Lifesciences during the 1st quarter valued at $28,000. First Community Trust NA acquired a new position in Edwards Lifesciences in the 2nd quarter worth $29,000. Webster Bank N. A. acquired a new position in Edwards Lifesciences in the 2nd quarter worth $39,000. Peoples Bank KS acquired a new position in Edwards Lifesciences in the 3rd quarter worth $40,000. Finally, Versant Capital Management Inc lifted its holdings in Edwards Lifesciences by 206.3% in the 2nd quarter. Versant Capital Management Inc now owns 484 shares of the medical research company’s stock worth $45,000 after buying an additional 326 shares in the last quarter. Institutional investors and hedge funds own 79.46% of the company’s stock.

Insider Activity at Edwards Lifesciences

In related news, insider Larry L. Wood sold 25,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $65.91, for a total value of $1,647,750.00. Following the sale, the insider now owns 198,526 shares of the company’s stock, valued at $13,084,848.66. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $66.77, for a total transaction of $333,850.00. Following the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,133,916.72. This represents a 0.00 % 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 link. Also, insider Larry L. Wood sold 25,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $65.91, for a total transaction of $1,647,750.00. Following the sale, the insider now directly owns 198,526 shares in the company, valued at $13,084,848.66. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,250 shares of company stock valued at $2,416,588 over the last quarter. 1.27% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have commented on EW. The Goldman Sachs Group cut their price objective on shares of Edwards Lifesciences from $107.00 to $91.00 and set a “buy” rating on the stock in a report on Friday, July 26th. Truist Financial lowered their price objective on shares of Edwards Lifesciences from $71.00 to $70.00 and set a “hold” rating for the company in a research report on Friday, October 25th. Robert W. Baird lowered 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. TD Cowen lowered shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and reduced their price target for the stock from $100.00 to $70.00 in a research note on Thursday, July 25th. Finally, Baird R W lowered shares of Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 25th. Seventeen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Edwards Lifesciences has an average rating of “Hold” and an average price target of $75.67.

Edwards Lifesciences Stock Performance

NYSE:EW opened at $65.81 on Wednesday. The firm’s 50-day moving average is $67.53 and its 200-day moving average is $76.65. Edwards Lifesciences Co. has a 52-week low of $58.93 and a 52-week high of $96.12. 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 has a market cap of $38.81 billion, a price-to-earnings ratio of 9.50, a PEG ratio of 3.75 and a beta of 1.12.

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

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.