Wahed Invest LLC Has $958,000 Holdings in Edwards Lifesciences Co. (NYSE:EW)

Wahed Invest LLC lifted its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 9.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,517 shares of the medical research company’s stock after purchasing an additional 1,308 shares during the period. Wahed Invest LLC’s holdings in Edwards Lifesciences were worth $958,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of EW. Jacobs Levy Equity Management Inc. raised its stake in Edwards Lifesciences by 239.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 3,693,663 shares of the medical research company’s stock worth $243,745,000 after buying an additional 2,606,950 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Edwards Lifesciences by 4.3% during the second quarter. Bank of New York Mellon Corp now owns 19,782,909 shares of the medical research company’s stock worth $1,827,347,000 after buying an additional 809,605 shares during the last quarter. Fisher Asset Management LLC raised its stake in Edwards Lifesciences by 9.8% during the third quarter. Fisher Asset Management LLC now owns 9,078,311 shares of the medical research company’s stock worth $599,078,000 after buying an additional 806,705 shares during the last quarter. AustralianSuper Pty Ltd raised its stake in Edwards Lifesciences by 17.8% during the third quarter. AustralianSuper Pty Ltd now owns 3,273,416 shares of the medical research company’s stock worth $216,013,000 after buying an additional 494,604 shares during the last quarter. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund increased its stake in Edwards Lifesciences by 422.3% in the third quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 450,233 shares of the medical research company’s stock valued at $29,711,000 after purchasing an additional 364,030 shares in the last quarter. Institutional investors and hedge funds own 79.46% of the company’s stock.

Insider Buying and Selling at Edwards Lifesciences

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $69.51, for a total value of $347,550.00. Following the transaction, the vice president now directly owns 46,936 shares in the company, valued at $3,262,521.36. The trade was a 9.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Larry L. Wood sold 25,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were 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 owns 198,526 shares in the company, valued at approximately $13,084,848.66. The trade was a 11.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 40,000 shares of company stock worth $2,657,000 over the last three months. 1.29% of the stock is currently owned by insiders.

Edwards Lifesciences Stock Down 2.4 %

Edwards Lifesciences stock opened at $72.43 on Friday. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $96.12. The stock has a market cap of $42.72 billion, a PE ratio of 10.45, a price-to-earnings-growth ratio of 3.95 and a beta of 1.12. The firm’s 50-day simple moving average is $68.55 and its 200 day simple moving average is $74.76. 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 (NYSE:EW) last released its earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.67. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. The company’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.59 earnings per share. Research analysts predict that Edwards Lifesciences Co. will post 2.57 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. UBS Group decreased their price target on shares of Edwards Lifesciences from $90.00 to $75.00 and set a “neutral” rating for the company in a research note on Tuesday, September 10th. Robert W. Baird decreased their price target on shares of Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Citigroup decreased their price target on shares of Edwards Lifesciences from $83.00 to $77.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. Piper Sandler decreased their price target on shares of Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Edwards Lifesciences from $72.00 to $78.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Seventeen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $78.35.

About Edwards Lifesciences

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.