Patrick M Sweeney & Associates Inc. Purchases New Stake in Edwards Lifesciences Co. (NYSE:EW)

Patrick M Sweeney & Associates Inc. acquired a new position in shares of Edwards Lifesciences Co. (NYSE:EW) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,945 shares of the medical research company’s stock, valued at approximately $225,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EW. Simmons Bank raised its position in shares of Edwards Lifesciences by 11.3% during the 4th quarter. Simmons Bank now owns 35,992 shares of the medical research company’s stock valued at $2,744,000 after buying an additional 3,653 shares during the period. Apollon Wealth Management LLC raised its position in Edwards Lifesciences by 21.0% in the fourth quarter. Apollon Wealth Management LLC now owns 21,057 shares of the medical research company’s stock valued at $1,606,000 after purchasing an additional 3,661 shares during the period. Maryland State Retirement & Pension System lifted its stake in shares of Edwards Lifesciences by 1.9% in the 4th quarter. Maryland State Retirement & Pension System now owns 46,864 shares of the medical research company’s stock valued at $3,573,000 after purchasing an additional 877 shares during the last quarter. Private Advisor Group LLC lifted its stake in shares of Edwards Lifesciences by 9.3% in the 4th quarter. Private Advisor Group LLC now owns 25,299 shares of the medical research company’s stock valued at $1,929,000 after purchasing an additional 2,162 shares during the last quarter. Finally, Summit Trail Advisors LLC grew its holdings in shares of Edwards Lifesciences by 1.4% during the 4th quarter. Summit Trail Advisors LLC now owns 13,522 shares of the medical research company’s stock worth $1,031,000 after purchasing an additional 192 shares during the period. Institutional investors and hedge funds own 79.46% of the company’s stock.

Insiders Place Their Bets

In related news, Director Michael A. Mussallem sold 29,350 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $86.67, for a total value of $2,543,764.50. Following the completion of the sale, the director now directly owns 4,486 shares of the company’s stock, valued at $388,801.62. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, VP Donald E. Bobo, Jr. sold 11,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $85.83, for a total transaction of $944,130.00. Following the transaction, the vice president now directly owns 39,503 shares in the company, valued at $3,390,542.49. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael A. Mussallem sold 29,350 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $86.67, for a total transaction of $2,543,764.50. Following the completion of the sale, the director now owns 4,486 shares of the company’s stock, valued at approximately $388,801.62. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 237,749 shares of company stock valued at $20,920,934. 1.27% of the stock is owned by corporate insiders.

Edwards Lifesciences Stock Up 0.9 %

NYSE:EW traded up $0.76 during trading hours on Tuesday, hitting $85.85. The company’s stock had a trading volume of 1,836,259 shares, compared to its average volume of 3,735,495. Edwards Lifesciences Co. has a 52-week low of $60.57 and a 52-week high of $96.12. The company has a current ratio of 3.75, a quick ratio of 2.67 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $51.73 billion, a P/E ratio of 37.00, a price-to-earnings-growth ratio of 3.59 and a beta of 1.10. The stock has a fifty day moving average of $90.05 and a 200-day moving average of $79.69.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Thursday, April 25th. The medical research company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.58 billion. Edwards Lifesciences had a return on equity of 22.86% and a net margin of 23.01%. On average, equities analysts forecast that Edwards Lifesciences Co. will post 2.77 earnings per share for the current year.

Wall Street Analyst Weigh In

EW has been the subject of several research analyst reports. Stifel Nicolaus increased their target price on shares of Edwards Lifesciences from $83.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. Barclays boosted their target price on Edwards Lifesciences from $100.00 to $101.00 and gave the company an “overweight” rating in a research report on Tuesday. StockNews.com upgraded Edwards Lifesciences from a “hold” rating to a “buy” rating in a research report on Monday, April 29th. Oppenheimer boosted their price objective on Edwards Lifesciences from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, March 18th. Finally, Mizuho raised their target price on Edwards Lifesciences from $95.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Edwards Lifesciences presently has an average rating of “Moderate Buy” and an average price target of $93.27.

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.