Inspire Investing LLC Makes New $1.02 Million Investment in Edwards Lifesciences Co. (NYSE:EW)

Inspire Investing LLC bought a new stake in shares of Edwards Lifesciences Co. (NYSE:EW) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 10,988 shares of the medical research company’s stock, valued at approximately $1,015,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. DSM Capital Partners LLC bought a new position in Edwards Lifesciences during the 4th quarter worth $28,000. Crewe Advisors LLC bought a new stake in Edwards Lifesciences in the first quarter valued at $28,000. First Community Trust NA acquired a new position in shares of Edwards Lifesciences during the second quarter valued at $29,000. Riverview Trust Co bought a new position in shares of Edwards Lifesciences during the first quarter worth about $34,000. Finally, Pingora Partners LLC bought a new position in shares of Edwards Lifesciences during the fourth quarter worth about $38,000. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered shares of Edwards Lifesciences from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $105.00 to $72.00 in a research note on Thursday, July 25th. Daiwa America upgraded Edwards Lifesciences to a “strong-buy” rating in a research report on Wednesday, July 31st. TD Cowen lowered Edwards Lifesciences from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $100.00 to $70.00 in a report on Thursday, July 25th. Robert W. Baird downgraded Edwards Lifesciences from an “outperform” rating to a “neutral” rating and cut their target price for the company from $102.00 to $70.00 in a research note on Thursday, July 25th. Finally, Wells Fargo & Company reduced their price target on Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday, September 9th. Sixteen research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $79.82.

Insider Activity

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’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 completion of the transaction, the vice president now owns 46,936 shares of the company’s stock, valued at approximately $3,101,530.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Daveen Chopra sold 1,250 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total value of $87,437.50. Following the completion of the sale, the vice president now directly owns 29,333 shares of the company’s stock, valued at $2,051,843.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’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 transaction of $330,400.00. Following 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 have sold 16,250 shares of company stock worth $1,218,138 over the last 90 days. 1.29% of the stock is owned by company insiders.

Edwards Lifesciences Stock Performance

EW opened at $67.26 on Friday. The company has a quick ratio of 2.87, a current ratio of 3.71 and a debt-to-equity ratio of 0.08. The firm has a market cap of $40.53 billion, a PE ratio of 28.99, a P/E/G ratio of 2.85 and a beta of 1.13. The business has a fifty day simple moving average of $70.37 and a 200-day simple moving average of $83.00. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $96.12.

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

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.