First Trust Direct Indexing L.P. Buys 1,804 Shares of Edwards Lifesciences Co. (NYSE:EW)

First Trust Direct Indexing L.P. boosted its stake in Edwards Lifesciences Co. (NYSE:EW) by 10.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,239 shares of the medical research company’s stock after buying an additional 1,804 shares during the period. First Trust Direct Indexing L.P.’s holdings in Edwards Lifesciences were worth $1,838,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kovack Advisors Inc. purchased a new position in shares of Edwards Lifesciences in the 1st quarter worth about $207,000. Financial Sense Advisors Inc. bought a new position in shares of Edwards Lifesciences in the first quarter worth approximately $975,000. DMC Group LLC increased its position in shares of Edwards Lifesciences by 33.3% during the first quarter. DMC Group LLC now owns 4,747 shares of the medical research company’s stock valued at $454,000 after acquiring an additional 1,186 shares in the last quarter. Bourgeon Capital Management LLC purchased a new position in shares of Edwards Lifesciences in the first quarter worth $287,000. Finally, Valley National Advisers Inc. increased its holdings in Edwards Lifesciences by 6.0% in the 1st quarter. Valley National Advisers Inc. now owns 2,677 shares of the medical research company’s stock worth $255,000 after buying an additional 152 shares in the last quarter. 79.46% of the stock is owned by hedge funds and other institutional investors.

Edwards Lifesciences Stock Performance

EW opened at $91.08 on Friday. Edwards Lifesciences Co. has a 1 year low of $60.57 and a 1 year high of $96.12. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.75 and a quick ratio of 2.67. The stock has a market cap of $54.88 billion, a P/E ratio of 39.26, a P/E/G ratio of 3.33 and a beta of 1.11. The firm has a fifty day moving average price of $88.10 and a 200 day moving average price of $85.64.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data on Thursday, April 25th. The medical research company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.58 billion. Equities research analysts anticipate that Edwards Lifesciences Co. will post 2.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on EW shares. Deutsche Bank Aktiengesellschaft upgraded Edwards Lifesciences from a “hold” rating to a “buy” rating and raised their price target for the stock from $86.00 to $103.00 in a research note on Tuesday, May 14th. Stifel Nicolaus boosted their price objective on Edwards Lifesciences from $83.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, April 26th. Barclays raised their target price on shares of Edwards Lifesciences from $100.00 to $101.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 7th. Piper Sandler raised their price objective on Edwards Lifesciences from $85.00 to $88.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. Finally, StockNews.com raised Edwards Lifesciences from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th. One research 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.18.

Insider Buying and Selling

In other news, CEO Bernard J. Zovighian acquired 580 shares of the company’s stock in a transaction on Monday, May 6th. The shares were bought at an average cost of $85.74 per share, with a total value of $49,729.20. Following the purchase, the chief executive officer now owns 3,268 shares of the company’s stock, valued at approximately $280,198.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Bernard J. Zovighian acquired 580 shares of Edwards Lifesciences stock in a transaction that occurred on Monday, May 6th. The stock was purchased at an average cost of $85.74 per share, with a total value of $49,729.20. Following the completion of the acquisition, the chief executive officer now owns 3,268 shares in the company, valued at approximately $280,198.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jean-Luc M. Lemercier sold 14,400 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $92.32, for a total transaction of $1,329,408.00. Following the transaction, the vice president now directly owns 173,849 shares in the company, valued at approximately $16,049,739.68. The disclosure for this sale can be found here. Insiders sold a total of 90,499 shares of company stock worth $7,866,511 in the last 90 days. Company insiders own 1.27% of the company’s stock.

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.