Newbridge Financial Services Group Inc. Sells 136 Shares of Edwards Lifesciences Co. (NYSE:EW)

Newbridge Financial Services Group Inc. reduced its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 5.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,377 shares of the medical research company’s stock after selling 136 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Edwards Lifesciences were worth $181,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Nomura Holdings Inc. purchased a new position in shares of Edwards Lifesciences during the fourth quarter valued at approximately $933,000. HighPoint Advisor Group LLC bought a new position in Edwards Lifesciences during the 4th quarter valued at approximately $955,000. Accent Capital Management LLC purchased a new position in Edwards Lifesciences during the fourth quarter valued at $308,000. Cove Private Wealth LLC bought a new stake in Edwards Lifesciences in the fourth quarter worth $974,000. Finally, Vanguard Group Inc. grew its stake in shares of Edwards Lifesciences by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 52,363,400 shares of the medical research company’s stock worth $3,992,709,000 after acquiring an additional 729,984 shares during the last quarter. Institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Stock Up 1.9 %

NYSE EW opened at $88.53 on Wednesday. Edwards Lifesciences Co. has a 52 week low of $60.57 and a 52 week high of $96.12. The company has a quick ratio of 2.67, a current ratio of 3.75 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $53.35 billion, a P/E ratio of 38.16, a price-to-earnings-growth ratio of 3.18 and a beta of 1.11. The stock’s 50-day moving average price is $87.56 and its 200-day moving average price is $84.22.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Thursday, April 25th. The medical research company reported $0.66 earnings per share for the quarter, beating the consensus estimate 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 net margin of 23.01% and a return on equity of 22.86%. On average, equities research analysts predict that Edwards Lifesciences Co. will post 2.77 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Bernard J. Zovighian acquired 580 shares of the stock in a transaction dated Monday, May 6th. The stock was acquired at an average cost of $85.74 per share, with a total value of $49,729.20. Following the purchase, the chief executive officer now directly owns 3,268 shares of the company’s stock, valued at $280,198.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Bernard J. Zovighian bought 580 shares of the stock in a transaction dated Monday, May 6th. The stock was purchased at an average price of $85.74 per share, for a total transaction of $49,729.20. Following the acquisition, the chief executive officer now owns 3,268 shares of the company’s stock, valued at $280,198.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Bernard J. Zovighian sold 8,617 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $87.68, for a total transaction of $755,538.56. Following the transaction, the chief executive officer now owns 68,218 shares in the company, valued at $5,981,354.24. The disclosure for this sale can be found here. Insiders have sold 127,104 shares of company stock valued at $11,267,464 over the last ninety days. 1.27% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on EW shares. Stifel Nicolaus lifted their price target on Edwards Lifesciences from $83.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, April 26th. StockNews.com cut shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a report on Tuesday. Royal Bank of Canada upped their target price on shares of Edwards Lifesciences from $95.00 to $101.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Mizuho raised their price target on shares of Edwards Lifesciences from $95.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Finally, Piper Sandler upped their price objective on Edwards Lifesciences from $85.00 to $88.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Edwards Lifesciences has an average rating of “Moderate Buy” and a consensus target price of $95.06.

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.