Cullinan Associates Inc. Has $1.33 Million Stock Position in Edwards Lifesciences Co. (NYSE:EW)

Cullinan Associates Inc. lifted its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 8.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,911 shares of the medical research company’s stock after purchasing an additional 1,100 shares during the quarter. Cullinan Associates Inc.’s holdings in Edwards Lifesciences were worth $1,329,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of EW. DSM Capital Partners LLC acquired a new stake in shares of Edwards Lifesciences during the 4th quarter worth $28,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Edwards Lifesciences during the 4th quarter worth $34,000. Riverview Trust Co bought a new stake in shares of Edwards Lifesciences during the 1st quarter worth $34,000. Pingora Partners LLC bought a new stake in shares of Edwards Lifesciences during the 4th quarter worth $38,000. Finally, SRS Capital Advisors Inc. lifted its position in shares of Edwards Lifesciences by 292.6% during the 3rd quarter. SRS Capital Advisors Inc. now owns 636 shares of the medical research company’s stock worth $44,000 after buying an additional 474 shares during the last quarter. 79.46% of the stock is owned by institutional investors and hedge funds.

Edwards Lifesciences Price Performance

Shares of Edwards Lifesciences stock opened at $91.27 on Wednesday. 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 firm has a market capitalization of $55.00 billion, a PE ratio of 39.34, a price-to-earnings-growth ratio of 3.38 and a beta of 1.11. The business’s 50-day moving average price is $87.92 and its 200-day moving average price is $85.46. Edwards Lifesciences Co. has a 12 month low of $60.57 and a 12 month high of $96.12.

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

Insider Activity at Edwards Lifesciences

In other Edwards Lifesciences news, VP Jean-Luc M. Lemercier sold 14,400 shares of Edwards Lifesciences stock in a transaction on Monday, April 8th. The stock was sold at an average price of $92.32, for a total value of $1,329,408.00. Following the completion of the sale, the vice president now owns 173,849 shares of the company’s stock, valued at approximately $16,049,739.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, VP Jean-Luc M. Lemercier sold 14,400 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $92.32, for a total value of $1,329,408.00. Following the transaction, the vice president now directly owns 173,849 shares in the company, valued at $16,049,739.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Daniel J. Lippis sold 857 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $85.60, for a total value of $73,359.20. Following the sale, the vice president now directly owns 23,890 shares in the company, valued at $2,044,984. The disclosure for this sale can be found here. Insiders sold a total of 119,849 shares of company stock valued at $10,579,038 in the last 90 days. Corporate insiders own 1.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on EW. Piper Sandler upped their price objective on Edwards Lifesciences from $85.00 to $88.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. Barclays increased 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, May 7th. The Goldman Sachs Group initiated coverage on Edwards Lifesciences in a research report on Thursday, May 30th. They issued a “buy” rating and a $107.00 target price for the company. Morgan Stanley increased their target price on Edwards Lifesciences from $95.00 to $103.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Finally, Oppenheimer increased their target price on Edwards Lifesciences from $93.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $95.18.

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.