Solidarity Wealth LLC Makes New Investment in Edwards Lifesciences Co. (NYSE:EW)

Solidarity Wealth LLC acquired a new stake in Edwards Lifesciences Co. (NYSE:EW) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 15,673 shares of the medical research company’s stock, valued at approximately $1,034,000.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Edwards Lifesciences by 1.1% during the first quarter. Vanguard Group Inc. now owns 52,964,394 shares of the medical research company’s stock worth $5,061,277,000 after purchasing an additional 600,994 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Edwards Lifesciences by 4.3% in the second quarter. Bank of New York Mellon Corp now owns 19,782,909 shares of the medical research company’s stock valued at $1,827,347,000 after buying an additional 809,605 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Edwards Lifesciences by 57.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,516,260 shares of the medical research company’s stock worth $622,695,000 after acquiring an additional 2,390,137 shares during the period. Champlain Investment Partners LLC increased its holdings in shares of Edwards Lifesciences by 3.1% during the 1st quarter. Champlain Investment Partners LLC now owns 2,964,168 shares of the medical research company’s stock worth $283,256,000 after acquiring an additional 88,205 shares during the last quarter. Finally, AustralianSuper Pty Ltd raised its stake in Edwards Lifesciences by 14.2% in the 2nd quarter. AustralianSuper Pty Ltd now owns 2,778,812 shares of the medical research company’s stock valued at $256,679,000 after acquiring an additional 344,465 shares during the period. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on EW. Bank of America downgraded shares of Edwards Lifesciences from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $105.00 to $75.00 in a report on Thursday, July 25th. Wolfe Research raised shares of Edwards Lifesciences from an “underperform” rating to a “peer perform” rating in a report on Monday, July 29th. Robert W. Baird reduced their price objective on Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Daiwa Capital Markets raised Edwards Lifesciences from a “neutral” rating to an “outperform” rating in a research report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Edwards Lifesciences from $103.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Sixteen investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Edwards Lifesciences has an average rating of “Hold” and an average target price of $75.67.

Edwards Lifesciences Stock Performance

NYSE:EW opened at $68.63 on Thursday. The company has a quick ratio of 2.87, a current ratio of 3.71 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $41.36 billion, a PE ratio of 29.58, a price-to-earnings-growth ratio of 3.00 and a beta of 1.13. Edwards Lifesciences Co. has a twelve month low of $58.93 and a twelve month high of $96.12. The stock’s 50-day simple moving average is $68.07 and its 200 day simple moving average is $77.92.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data 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. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same period in the prior year, the company earned $0.59 EPS. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, analysts anticipate that Edwards Lifesciences Co. will post 2.61 EPS for the current fiscal year.

Insider Activity at Edwards Lifesciences

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $66.08, for a total value of $330,400.00. Following the completion of the transaction, the vice president now owns 46,936 shares of the company’s stock, valued at $3,101,530.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total transaction of $330,400.00. Following the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at $3,101,530.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Daveen Chopra sold 1,250 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total transaction of $87,437.50. Following the completion of the transaction, the vice president now owns 29,333 shares of the company’s stock, valued at approximately $2,051,843.35. This trade 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 16,250 shares of company stock valued at $1,099,238 in the last 90 days. 1.29% of the stock is owned by corporate insiders.

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.