Moors & Cabot Inc. reduced its holdings in Edwards Lifesciences Corp (NYSE:EW) by 7.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,018 shares of the medical research company’s stock after selling 1,437 shares during the period. Moors & Cabot Inc.’s holdings in Edwards Lifesciences were worth $3,590,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of EW. Norges Bank acquired a new stake in Edwards Lifesciences in the fourth quarter valued at approximately $821,638,000. Fisher Asset Management LLC grew its holdings in Edwards Lifesciences by 17,004.8% in the first quarter. Fisher Asset Management LLC now owns 1,354,703 shares of the medical research company’s stock valued at $255,524,000 after purchasing an additional 1,346,783 shares during the period. Capital International Investors grew its holdings in Edwards Lifesciences by 18.1% in the fourth quarter. Capital International Investors now owns 4,457,984 shares of the medical research company’s stock valued at $1,040,003,000 after purchasing an additional 682,490 shares during the period. BlackRock Inc. grew its holdings in Edwards Lifesciences by 2.5% in the first quarter. BlackRock Inc. now owns 18,659,731 shares of the medical research company’s stock valued at $3,519,597,000 after purchasing an additional 458,932 shares during the period. Finally, FMR LLC grew its holdings in Edwards Lifesciences by 5.8% in the fourth quarter. FMR LLC now owns 8,092,575 shares of the medical research company’s stock valued at $1,887,918,000 after purchasing an additional 443,415 shares during the period. 80.66% of the stock is currently owned by institutional investors.
In other news, VP Huimin Wang sold 1,717 shares of Edwards Lifesciences stock in a transaction on Monday, May 18th. The stock was sold at an average price of $216.68, for a total value of $372,039.56. Following the completion of the sale, the vice president now directly owns 31,435 shares of the company’s stock, valued at $6,811,335.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Catherine M. Szyman sold 1,116 shares of Edwards Lifesciences stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $162.95, for a total value of $181,852.20. Following the completion of the sale, the vice president now directly owns 15,773 shares of the company’s stock, valued at $2,570,210.35. The disclosure for this sale can be found here. In the last three months, insiders have sold 88,842 shares of company stock valued at $18,554,417. 1.48% of the stock is owned by insiders.
EW stock traded down $150.44 during midday trading on Monday, hitting $74.28. 1,028,156 shares of the company’s stock were exchanged, compared to its average volume of 976,489. The business has a 50-day simple moving average of $217.25 and a two-hundred day simple moving average of $221.84. The company has a current ratio of 3.36, a quick ratio of 2.47 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $46.42 billion, a PE ratio of 14.20, a P/E/G ratio of 2.83 and a beta of 0.84. Edwards Lifesciences Corp has a 1-year low of $154.52 and a 1-year high of $247.64.
Edwards Lifesciences (NYSE:EW) last posted its earnings results on Thursday, April 23rd. The medical research company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.22. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Edwards Lifesciences had a return on equity of 31.83% and a net margin of 24.71%. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.32 earnings per share. As a group, research analysts expect that Edwards Lifesciences Corp will post 4.95 EPS for the current fiscal year.
Several research firms have recently weighed in on EW. BTIG Research restated a “hold” rating on shares of Edwards Lifesciences in a research report on Thursday, April 23rd. Morgan Stanley decreased their target price on Edwards Lifesciences from $250.00 to $83.00 and set an “overweight” rating on the stock in a research report on Monday. Deutsche Bank decreased their target price on Edwards Lifesciences from $245.00 to $225.00 and set a “hold” rating on the stock in a research report on Wednesday, April 22nd. SVB Leerink downgraded Edwards Lifesciences from an “outperform” rating to a “market perform” rating in a research report on Sunday, April 19th. Finally, Piper Sandler decreased their target price on Edwards Lifesciences from $270.00 to $265.00 and set an “overweight” rating on the stock in a research report on Friday, April 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $240.26.
Edwards Lifesciences Company Profile
Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States and internationally. It offers transcatheter heart valve therapy products comprising transcatheter aortic valve replacement, and transcatheter mitral and tricuspid therapies for the nonsurgical replacement of heart valves.
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