Groesbeck Investment Management Corp NJ Invests $206,000 in Edwards Lifesciences Co. (NYSE:EW)

Groesbeck Investment Management Corp NJ purchased a new stake in shares of Edwards Lifesciences Co. (NYSE:EW) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,700 shares of the medical research company’s stock, valued at approximately $206,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Castleview Partners LLC purchased a new stake in Edwards Lifesciences during the 1st quarter valued at $25,000. Compass Wealth Management LLC purchased a new stake in Edwards Lifesciences during the 4th quarter valued at $31,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Edwards Lifesciences during the 4th quarter valued at $34,000. Jackson Grant Investment Advisers Inc. purchased a new stake in Edwards Lifesciences during the 3rd quarter valued at $38,000. Finally, Janiczek Wealth Management LLC increased its stake in Edwards Lifesciences by 108.6% in the third quarter. Janiczek Wealth Management LLC now owns 582 shares of the medical research company’s stock worth $40,000 after purchasing an additional 303 shares during the period. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Stock Down 0.4 %

Shares of EW traded down $0.32 during midday trading on Thursday, reaching $86.92. 1,310,404 shares of the stock were exchanged, compared to its average volume of 3,839,839. Edwards Lifesciences Co. has a 52 week low of $60.57 and a 52 week high of $96.12. The company’s 50 day moving average is $90.12 and its two-hundred day moving average is $78.14. The company has a market capitalization of $52.32 billion, a P/E ratio of 37.93, a PEG ratio of 4.46 and a beta of 1.05. The company has a current ratio of 3.38, a quick ratio of 2.40 and a debt-to-equity ratio of 0.09.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings data on Tuesday, February 6th. The medical research company reported $0.64 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.64. Edwards Lifesciences had a return on equity of 23.56% and a net margin of 23.35%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the company earned $0.64 earnings per share. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Edwards Lifesciences Co. will post 2.76 earnings per share for the current year.

Insider Activity at Edwards Lifesciences

In related news, VP Daniel J. Lippis sold 1,715 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $90.98, for a total transaction of $156,030.70. Following the sale, the vice president now owns 17,213 shares of the company’s stock, valued at $1,566,038.74. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 11,000 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $85.83, for a total value of $944,130.00. Following the completion of the sale, the vice president now directly owns 39,503 shares in the company, valued at $3,390,542.49. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Daniel J. Lippis sold 1,715 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $90.98, for a total value of $156,030.70. Following the completion of the sale, the vice president now owns 17,213 shares of the company’s stock, valued at $1,566,038.74. The disclosure for this sale can be found here. Insiders have sold a total of 194,004 shares of company stock valued at $17,166,254 over the last quarter. 1.29% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have weighed in on EW shares. Wells Fargo & Company upgraded Edwards Lifesciences from an “equal weight” rating to an “overweight” rating and set a $94.00 target price on the stock in a research note on Friday, February 2nd. Morgan Stanley increased their target price on Edwards Lifesciences from $95.00 to $103.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Truist Financial increased their target price on Edwards Lifesciences from $78.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, December 22nd. OTR Global upgraded Edwards Lifesciences from a “mixed” rating to a “positive” rating in a research note on Tuesday, March 26th. Finally, Mizuho increased their target price on Edwards Lifesciences from $95.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $91.73.

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.