Resonant Capital Advisors LLC increased its position in Edwards Lifesciences Co. (NYSE:EW)

Resonant Capital Advisors LLC grew its stake in shares of Edwards Lifesciences Co. (NYSE:EW – Free Report) by 7.2% during the second quarter, Holdings Channel reports. The fund owned 2,946 shares of the medical research company’s stock after purchasing an additional 199 shares during the period. Resonant Capital Advisors LLC’s holdings in Edwards Lifesciences were worth $272,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in EW. DSM Capital Partners LLC purchased a new stake in Edwards Lifesciences in the 4th quarter valued at approximately $28,000. Crewe Advisors LLC purchased a new stake in Edwards Lifesciences in the 1st quarter worth approximately $28,000. First Community Trust NA acquired a new stake in shares of Edwards Lifesciences in the second quarter valued at approximately $29,000. Riverview Trust Co purchased a new stake in shares of Edwards Lifesciences in the first quarter valued at about $34,000. Finally, Pingora Partners LLC acquired a new stake in shares of Edwards Lifesciences in the 4th quarter valued at about $38,000. 79.46% of shares are owned by institutional investors and hedge funds.

Edwards Lifesciences Price Performance

Shares of EW stock opened at $68.75 on Wednesday. The stock has a 50-day moving average of $76.26 and a two-hundred-day moving average of $84.54. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $96.12. The company has a current ratio of 3.71, a quick ratio of 2.87, and a debt-to-equity ratio of 0.08. The company has a market cap of $41.43 billion, a PE ratio of 29.63, a price-to-earnings-growth ratio of 2.92 and a beta of 1.11.

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

Insiders place their bets

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $93.29, for a total transaction of $466,450.00. Following the transaction, the vice president now owns 46,936 shares in the company, valued at $4,378,659.44. The sale was disclosed in a legal filing with the SEC, which is available on the SEC’s website. In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $93.29, for a total transaction of $466,450.00. Following the transaction, the vice president now owns 46,936 shares in the company, valued at $4,378,659.44. The sale was disclosed in a legal filing with the SEC, which is available on the SEC’s website. Also, VP Daveen Chopra sold 1,250 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total value of $87,437.50. Following the completion of the transaction, the vice president now owns 29,333 shares in the company, valued at approximately $2,051,843.35. The disclosure for this sale can be found here. Insiders sold a total of 16,250 shares of company stock worth $1,321,988 in the last quarter. 1.29% of shares are owned by corporate insiders.

Analyst upgrades and downgrades

EW has been the subject of several recent analyst reports. Robert W. Baird cut Edwards Lifesciences from an “outperform” rating to a “neutral” rating and cut their price target for the company from $102.00 to $70.00 in a report on Thursday, July 25th . Truist Financial cut Edwards Lifesciences from a “buy” rating to a “hold” rating and cut their price target for the company from $110.00 to $82.00 in a report on Thursday, July 25th . StockNews.com cut Edwards Lifesciences from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Barclays cut their price target on Edwards Lifesciences from $101.00 to $90.00 and set an “overweight” rating for the company in a report on Friday, July 26th. Finally, Baird RW cut Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 25th. Fourteen research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Moderate Buy” and an average target price of $82.10, according to MarketBeat.com.

View Edwards Lifesciences’ latest stock report

Edwards Lifesciences Profile

(Free Report)

Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States, Europe, Japan and internationally. Offers transcatheter heart valve replacement products for minimally invasive aortic heart valve replacement within the Edwards SAPIEN family of valve systems; and transcatheter heart valve repair and replacement products for the treatment of mitral and tricuspid valve disease under the names PASCAL PRECISION and Cardioband.

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