Townsend & Associates Inc Purchases 8,441 Shares of Edwards Lifesciences Co. (NYSE:EW)

Townsend & Associates Inc raised its position in shares of Edwards Lifesciences Co. (NYSE:EW) by 5.1% in the third quarter, HoldingsChannel reports. The firm owned 174,978 shares of the medical research company’s stock after acquiring an additional 8,441 shares during the period. Townsend & Associates Inc’s holdings in Edwards Lifesciences were worth $12,355,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in EW. Crewe Advisors LLC purchased a new position in Edwards Lifesciences during the first quarter valued at approximately $28,000. First Community Trust NA purchased a new stake in shares of Edwards Lifesciences during the 2nd quarter worth $29,000. Webster Bank N. A. bought a new position in Edwards Lifesciences in the second quarter worth about $39,000. Peoples Bank KS bought a new stake in shares of Edwards Lifesciences in the 3rd quarter valued at about $40,000. Finally, Versant Capital Management Inc increased its position in shares of Edwards Lifesciences by 206.3% during the second quarter. Versant Capital Management Inc now owns 484 shares of the medical research company’s stock worth $45,000 after purchasing an additional 326 shares in the last quarter. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EW has been the subject of several research reports. Oppenheimer reiterated an “outperform” rating and set a $90.00 price objective on shares of Edwards Lifesciences in a research note on Thursday, September 12th. Daiwa Capital Markets upgraded Edwards Lifesciences from a “neutral” rating to an “outperform” rating in a research note on Wednesday, July 31st. Piper Sandler reduced their price objective on Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Bank of America lowered Edwards Lifesciences from a “buy” rating to a “neutral” rating and dropped their target price for the company from $105.00 to $75.00 in a research report on Thursday, July 25th. Finally, Sanford C. Bernstein raised shares of Edwards Lifesciences from a “strong sell” rating to a “hold” rating in a research report on Monday, October 28th. Seventeen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $75.67.

Insiders Place Their Bets

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction 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 sale, the vice president now owns 46,936 shares in the company, valued at $3,101,530.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other 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 value of $330,400.00. Following the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,101,530.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Larry L. Wood sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $65.91, for a total value of $1,647,750.00. Following the completion of the sale, the insider now directly owns 198,526 shares in the company, valued at approximately $13,084,848.66. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,250 shares of company stock valued at $2,746,988 in the last three months. 1.27% of the stock is currently owned by insiders.

Edwards Lifesciences Stock Up 0.6 %

Shares of EW opened at $66.22 on Friday. The stock has a 50 day moving average price of $67.59 and a 200 day moving average price of $76.96. 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 has a market capitalization of $39.89 billion, a price-to-earnings ratio of 9.56, a PEG ratio of 3.74 and a beta of 1.12. Edwards Lifesciences Co. has a one year low of $58.93 and a one year high of $96.12.

Edwards Lifesciences (NYSE:EW) last released 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 business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.57 billion. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 22.56%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.59 earnings per share. Equities research analysts forecast that Edwards Lifesciences Co. will post 2.57 earnings per share for the current fiscal year.

Edwards Lifesciences Company 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.