Truvestments Capital LLC Acquires New Holdings in Edwards Lifesciences Co. (NYSE:EW)

Truvestments Capital LLC acquired a new stake in shares of Edwards Lifesciences Co. (NYSE:EW) during the third quarter, HoldingsChannel reports. The firm acquired 1,648 shares of the medical research company’s stock, valued at approximately $109,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. First Community Trust NA bought a new stake in shares of Edwards Lifesciences during the second quarter valued at about $29,000. Prospera Private Wealth LLC bought a new stake in Edwards Lifesciences in the third quarter worth about $32,000. Avior Wealth Management LLC raised its position in Edwards Lifesciences by 138.7% in the third quarter. Avior Wealth Management LLC now owns 530 shares of the medical research company’s stock worth $35,000 after acquiring an additional 308 shares in the last quarter. Webster Bank N. A. bought a new stake in Edwards Lifesciences in the second quarter worth about $39,000. Finally, Peoples Bank KS bought a new stake in Edwards Lifesciences in the third quarter worth about $40,000. 79.46% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Larry L. Wood sold 25,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 198,526 shares in the company, valued at $13,084,848.66. The trade was a 11.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $66.77, for a total value of $333,850.00. Following the transaction, the vice president now owns 46,936 shares of the company’s stock, valued at approximately $3,133,916.72. This trade represents a 9.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,000 shares of company stock valued at $2,657,000 over the last 90 days. 1.29% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on EW shares. Daiwa Capital Markets upgraded shares of Edwards Lifesciences from a “neutral” rating to an “outperform” rating in a research report on Wednesday, July 31st. Wells Fargo & Company dropped their price target on shares of Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Monday, September 9th. Piper Sandler dropped their price target on shares of Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Evercore ISI dropped their price target on shares of Edwards Lifesciences from $76.00 to $70.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 1st. Finally, Oppenheimer restated an “outperform” rating and set a $90.00 price objective on shares of Edwards Lifesciences in a report on Thursday, September 12th. Seventeen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Edwards Lifesciences presently has an average rating of “Hold” and an average price target of $75.67.

Edwards Lifesciences Trading Up 0.4 %

Shares of NYSE EW opened at $71.56 on Wednesday. The stock has a market cap of $42.20 billion, a price-to-earnings ratio of 10.33, a PEG ratio of 3.96 and a beta of 1.12. 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 business has a 50 day simple moving average of $67.83 and a 200 day simple moving average of $75.37. Edwards Lifesciences Co. has a 52 week low of $58.93 and a 52 week high of $96.12.

Edwards Lifesciences (NYSE:EW) last announced its earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.67. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. The company’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.59 earnings per share. On average, research analysts predict that Edwards Lifesciences Co. will post 2.57 earnings per share for the current fiscal 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.