Plato Investment Management Ltd Increases Stock Position in Edwards Lifesciences Co. (NYSE:EW)

Plato Investment Management Ltd increased its position in Edwards Lifesciences Co. (NYSE:EW) by 10.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,314 shares of the medical research company’s stock after buying an additional 793 shares during the quarter. Plato Investment Management Ltd’s holdings in Edwards Lifesciences were worth $768,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. DSM Capital Partners LLC purchased a new stake in Edwards Lifesciences during the fourth quarter worth approximately $28,000. Crewe Advisors LLC purchased a new stake in Edwards Lifesciences during the 1st quarter worth $28,000. First Community Trust NA acquired a new stake in Edwards Lifesciences in the 2nd quarter valued at $29,000. Riverview Trust Co purchased a new position in Edwards Lifesciences in the first quarter valued at about $34,000. Finally, Pingora Partners LLC acquired a new position in shares of Edwards Lifesciences during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 79.46% of the company’s stock.

Edwards Lifesciences Stock Performance

EW stock opened at $68.52 on Monday. Edwards Lifesciences Co. has a 1 year low of $58.93 and a 1 year high of $96.12. The stock has a market capitalization of $41.28 billion, a price-to-earnings ratio of 29.53, a PEG ratio of 2.85 and a beta of 1.13. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.87 and a current ratio of 3.71. The stock’s fifty day moving average is $72.39 and its two-hundred day moving average is $83.45.

Edwards Lifesciences (NYSE:EW) last posted its earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period in the previous year, the business posted $0.66 EPS. Edwards Lifesciences’s revenue was up 6.7% on a year-over-year basis. On average, research analysts predict that Edwards Lifesciences Co. will post 2.7 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on EW shares. Baird R W downgraded Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 25th. Piper Sandler reduced their target price on shares of Edwards Lifesciences from $88.00 to $73.00 and set a “neutral” rating on the stock in a research report on Thursday, July 25th. Robert W. Baird lowered shares of Edwards Lifesciences from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $102.00 to $70.00 in a report on Thursday, July 25th. Citigroup upped their price objective on shares of Edwards Lifesciences from $105.00 to $106.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, Daiwa Capital Markets raised Edwards Lifesciences from a “neutral” rating to an “outperform” rating in a research report on Wednesday, July 31st. Fifteen investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $80.29.

Insider Buying and Selling

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $66.08, for a total transaction of $330,400.00. Following the completion of the transaction, the vice president now owns 46,936 shares in the company, valued at approximately $3,101,530.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Daveen Chopra sold 1,250 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total transaction of $87,437.50. Following the sale, the vice president now owns 29,333 shares of the company’s stock, valued at $2,051,843.35. The sale was disclosed in a filing with the SEC, which is available 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, 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 sale, the vice president now owns 46,936 shares of the company’s stock, valued at $3,101,530.88. The disclosure for this sale can be found here. Insiders sold 16,250 shares of company stock valued at $1,218,138 in the last three months. 1.29% of the stock is currently 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.