Generali Asset Management SPA SGR lessened its position in shares of Edwards Lifesciences Corporation (NYSE:EW – Free Report) by 25.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 40,646 shares of the medical research company’s stock after selling 13,981 shares during the quarter. Generali Asset Management SPA SGR’s holdings in Edwards Lifesciences were worth $3,509,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. RMG Wealth Management LLC purchased a new position in Edwards Lifesciences during the 1st quarter valued at about $26,000. Pin Oak Investment Advisors Inc. acquired a new position in Edwards Lifesciences during the second quarter worth about $26,000. GK Wealth Management LLC purchased a new stake in shares of Edwards Lifesciences in the third quarter valued at about $26,000. TrinityBridge Ltd purchased a new stake in shares of Edwards Lifesciences in the second quarter valued at about $27,000. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Edwards Lifesciences by 175.2% in the first quarter. Meeder Asset Management Inc. now owns 366 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 233 shares in the last quarter. Institutional investors and hedge funds own 79.46% of the company’s stock.
Insider Activity
In other Edwards Lifesciences news, VP Daniel J. Lippis sold 619 shares of Edwards Lifesciences stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $92.03, for a total value of $56,966.57. Following the completion of the sale, the vice president directly owned 40,034 shares of the company’s stock, valued at approximately $3,684,329.02. The trade was a 1.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Andrew M. Dahl sold 544 shares of the business’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $91.06, for a total value of $49,536.64. Following the completion of the transaction, the senior vice president owned 14,868 shares of the company’s stock, valued at $1,353,880.08. This trade represents a 3.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 5,045 shares of company stock valued at $451,596 over the last 90 days. Insiders own 0.31% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on the stock. Jefferies Financial Group raised their price objective on shares of Edwards Lifesciences from $102.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Wall Street Zen raised Edwards Lifesciences from a “hold” rating to a “buy” rating in a research note on Saturday, October 17th. UBS Group reaffirmed a “buy” rating and issued a $110.00 target price (up from $90.00) on shares of Edwards Lifesciences in a research note on Thursday, October 8th. Piper Sandler reiterated an “overweight” rating and set a $101.00 target price (up from $100.00) on shares of Edwards Lifesciences in a report on Friday, July 24th. Finally, Leerink Partners raised Edwards Lifesciences from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $87.00 to $101.00 in a research report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $100.31.
Get Our Latest Report on Edwards Lifesciences
Edwards Lifesciences Price Performance
NYSE:EW opened at $94.35 on Friday. Edwards Lifesciences Corporation has a 12-month low of $74.66 and a 12-month high of $96.29. The firm has a market cap of $54.33 billion, a price-to-earnings ratio of 54.22, a price-to-earnings-growth ratio of 2.40 and a beta of 0.87. The company’s 50-day moving average is $88.11 and its two-hundred day moving average is $85.38. The company has a current ratio of 4.52, a quick ratio of 3.77 and a debt-to-equity ratio of 0.06.
About Edwards Lifesciences
Edwards Lifesciences Corporation (NYSE:EW) is a medical technology company focused on therapies for structural heart disease and critical care. The company develops and manufactures products designed to treat conditions affecting the heart’s valves, including aortic, mitral and tricuspid valve disorders.
Its portfolio includes transcatheter aortic valve replacement systems, transcatheter mitral and tricuspid therapies, surgical heart valves and valve-repair technologies. Edwards also provides related delivery systems and other medical devices used by physicians in minimally invasive and open-heart procedures.
Founded in 1958 by Miles Lowell Edwards, the company is headquartered in Irvine, California, and serves healthcare providers and patients internationally.
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