B&L Asset Management LLC Expands Holdings in Edwards Lifesciences Co.

B&L Asset Management LLC has taken a new position in shares of Edwards Lifesciences Co. (NYSE:EW) during the third quarter, according to their latest filing with the SEC. The firm acquired 46,998 shares of the healthcare company's stock, amounting to an approximate value of $3,101,000. This investment now constitutes 2.0% of B&L Asset Management LLC's portfolio, making Edwards Lifesciences their 16th largest holding.

Additionally, other institutional investors have also made recent adjustments to their stakes in Edwards Lifesciences. For instance, First Community Trust NA acquired shares worth around $29,000 in the second quarter, while Prospera Private Wealth LLC bought shares valued at approximately $32,000 in the third quarter. Avior Wealth Management LLC significantly increased its holdings by 138.7% during the same period. They now possess a total of 530 shares, which are worth around $35,000 after acquiring an additional 308 shares. Furthermore, Webster Bank N.A. and Peoples Bank KS also bought new positions last quarter, worth $39,000 and $40,000 respectively. Overall, institutional investors and hedge funds own about 79.46% of Edwards Lifesciences stock.

Current Market Performance of Edwards Lifesciences

As of Friday, Edwards Lifesciences shares opened at $71.35. The company has a 50-day moving average of $68.10 and a 200-day moving average of $75.15. In the past year, the stock has experienced a low of $58.93 and a high of $96.12. Notably, the firm has a quick ratio of 2.89, a current ratio of 3.46, and a low debt-to-equity ratio of 0.06, indicating financial strength. With a market capitalization of approximately $42.08 billion, the company boasts a price-to-earnings (P/E) ratio of 10.30 and a P/E growth (P/E/G) ratio of 4.01, along with a beta value of 1.12, which shows its volatility in the market.

Recent Earnings Report

Recently, on October 24, Edwards Lifesciences announced its quarterly earnings results. The firm reported earnings of $0.67 per share, aligning with the consensus estimate. In terms of revenue, Edwards Lifesciences generated $1.35 billion for the quarter, which fell short of the projected $1.57 billion. However, year-over-year revenue showed an increase of 8.9%. Last year during the same quarter, the company reported earnings of $0.59 per share. Analysts are forecasting that Edwards Lifesciences will deliver an earnings per share (EPS) of 2.57 for the current fiscal year.

Insider Trading Activities

In related news, there have been recent insider transactions at Edwards Lifesciences. VP Donald E. Bobo, Jr. sold 5,000 shares of the company's stock on September 11, realizing approximately $333,850. Following the sale, Bobo now holds 46,936 shares valued at about $3,133,916. Furthermore, insider Larry L. Wood sold 25,000 shares on November 5 for a total of $1,647,750. Post-sale, Wood's remaining shares are valued at around $13,084,848. In the last three months, insiders have sold 40,000 shares totaling approximately $2,657,000, with 1.29% of shares currently held by insiders.

Analyst Ratings and Perspectives

Several analysts have recently assessed the company as well. Evercore ISI cut their price target for Edwards Lifesciences from $76.00 to $70.00, maintaining an “in-line” rating. Meanwhile, Daiwa America downgraded their rating from “strong-buy” to “hold.” Conversely, Sanford C. Bernstein upgraded their rating from “strong sell” to “hold.” Truist Financial also revised its price target down to $70.00 and sustained a “hold” outlook. Overall, 17 analysts recommend holding the stock, while 10 suggest buying it, portraying a current consensus rating of “Hold” with an average target price of $76.85.

About Edwards Lifesciences

Edwards Lifesciences Corporation focuses on developing products and technologies aimed at treating structural heart disease and offering critical care monitoring solutions globally. The company specializes in providing transcatheter heart valve replacement products, particularly under the Edwards SAPIEN brand, as well as transcatheter heart valve repair products for mitral and tricuspid valve disorders under the PASCAL PRECISION and Cardioband names.

Acquisition, Investment, Shares, Healthcare, Earnings