OP Asset Management Ltd purchased a new stake in shares of Edwards Lifesciences Corporation (NYSE:EW – Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 137,471 shares of the medical research company’s stock, valued at approximately $11,009,000.
Other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Edwards Lifesciences during the 4th quarter valued at about $803,686,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Edwards Lifesciences by 278.3% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,584,646 shares of the medical research company’s stock valued at $434,318,000 after acquiring an additional 4,108,270 shares during the last quarter. Viking Global Investors LP purchased a new position in Edwards Lifesciences in the third quarter worth about $238,688,000. Marshall Wace LLP grew its position in Edwards Lifesciences by 66.1% in the fourth quarter. Marshall Wace LLP now owns 5,925,627 shares of the medical research company’s stock worth $505,160,000 after acquiring an additional 2,359,128 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Edwards Lifesciences by 147.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,126,755 shares of the medical research company’s stock worth $181,307,000 after acquiring an additional 1,267,918 shares during the last quarter. Institutional investors own 79.46% of the company’s stock.
Edwards Lifesciences Trading Up 0.1%
EW stock opened at $89.75 on Friday. The company has a market capitalization of $51.68 billion, a PE ratio of 47.74, a P/E/G ratio of 2.25 and a beta of 0.87. Edwards Lifesciences Corporation has a 12 month low of $72.30 and a 12 month high of $91.65. The firm’s 50-day moving average is $84.16 and its 200 day moving average is $83.21. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.42 and a quick ratio of 3.63.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on EW shares. Mizuho set a $95.00 price objective on Edwards Lifesciences and gave the company an “outperform” rating in a research note on Monday, April 13th. Barclays reissued an “overweight” rating and set a $110.00 target price (up from $104.00) on shares of Edwards Lifesciences in a research report on Monday, April 27th. Robert W. Baird increased their price target on Edwards Lifesciences from $85.00 to $87.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Truist Financial set a $90.00 price target on Edwards Lifesciences and gave the stock a “hold” rating in a research report on Friday, April 24th. Finally, TD Cowen reaffirmed a “buy” rating and set a $104.00 price objective (up from $97.00) on shares of Edwards Lifesciences in a research note on Tuesday, June 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Edwards Lifesciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.96.
Get Our Latest Stock Report on Edwards Lifesciences
Insider Transactions at Edwards Lifesciences
In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 23,145 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $86.42, for a total transaction of $2,000,190.90. Following the transaction, the vice president directly owned 98,611 shares in the company, valued at $8,521,962.62. This trade represents a 19.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Scott B. Ullem sold 13,000 shares of Edwards Lifesciences stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $80.04, for a total value of $1,040,520.00. Following the sale, the chief financial officer directly owned 39,699 shares of the company’s stock, valued at approximately $3,177,507.96. This trade represents a 24.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 81,038 shares of company stock worth $6,683,255 over the last three months. Company insiders own 0.31% of the company’s stock.
Edwards Lifesciences Profile
Edwards Lifesciences is a medical technology company focused on products and therapies for structural heart disease and critical care monitoring. The company designs, develops and manufactures prosthetic heart valves and related delivery systems used in both surgical and minimally invasive (transcatheter) procedures. Its portfolio addresses a range of valvular conditions, with an emphasis on technologies that enable transcatheter aortic valve replacement (TAVR) as an alternative to open-heart surgery.
In addition to transcatheter heart valves—including the widely recognized SAPIEN family—Edwards offers surgical tissue valves and ancillary devices used by cardiac surgeons, interventional cardiologists and hospital teams.
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