Neo Ivy Capital Management Purchases New Shares in Edwards Lifesciences Co. (NYSE:EW)

Neo Ivy Capital Management acquired a new position in shares of Edwards Lifesciences Co. (NYSE:EW) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,002 shares of the medical research company’s stock, valued at approximately $726,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Stableford Capital II LLC grew its stake in shares of Edwards Lifesciences by 2.7% during the second quarter. Stableford Capital II LLC now owns 6,104 shares of the medical research company’s stock valued at $533,000 after purchasing an additional 159 shares during the last quarter. Purus Wealth Management LLC increased its stake in shares of Edwards Lifesciences by 5.2% in the 2nd quarter. Purus Wealth Management LLC now owns 3,212 shares of the medical research company’s stock valued at $297,000 after buying an additional 160 shares during the period. Busey Bank raised its position in shares of Edwards Lifesciences by 1.9% during the second quarter. Busey Bank now owns 8,838 shares of the medical research company’s stock worth $816,000 after acquiring an additional 165 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its stake in shares of Edwards Lifesciences by 7.4% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 2,415 shares of the medical research company’s stock valued at $224,000 after acquiring an additional 166 shares during the period. Finally, JFS Wealth Advisors LLC boosted its holdings in Edwards Lifesciences by 31.1% in the third quarter. JFS Wealth Advisors LLC now owns 700 shares of the medical research company’s stock valued at $46,000 after acquiring an additional 166 shares during the last quarter. Institutional investors and hedge funds own 79.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Truist Financial reiterated a “hold” rating and set a $78.00 price target (up previously from $70.00) on shares of Edwards Lifesciences in a research report on Thursday, December 5th. Sanford C. Bernstein raised shares of Edwards Lifesciences from a “strong sell” rating to a “hold” rating in a report on Monday, October 28th. Daiwa America cut shares of Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group raised their price target on Edwards Lifesciences from $63.00 to $68.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Finally, Evercore ISI reduced their target price on Edwards Lifesciences from $76.00 to $70.00 and set an “in-line” rating on the stock in a report on Tuesday, October 1st. Seventeen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Edwards Lifesciences has a consensus rating of “Hold” and a consensus target price of $78.65.

Insider Buying and Selling at Edwards Lifesciences

In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $69.51, for a total value of $347,550.00. Following the completion of the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at $3,262,521.36. This trade represents a 9.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Larry L. Wood sold 25,000 shares of the stock in a transaction 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 owns 198,526 shares in the company, valued at approximately $13,084,848.66. This trade represents a 11.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,000 shares of company stock worth $2,323,150 over the last quarter. 1.27% of the stock is currently owned by insiders.

Edwards Lifesciences Price Performance

Shares of NYSE EW opened at $73.78 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89. The business has a 50-day moving average of $68.92 and a 200-day moving average of $74.19. The stock has a market capitalization of $43.52 billion, a price-to-earnings ratio of 10.65, a PEG ratio of 3.52 and a beta of 1.12. 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 announced its quarterly earnings data 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. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter in the prior year, the business posted $0.59 EPS. The business’s revenue was up 8.9% compared to the same quarter last year. As a group, sell-side analysts predict that Edwards Lifesciences Co. will post 2.56 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.