Global Retirement Partners LLC bought a new position in Edwards Lifesciences Corporation (NYSE:EW – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 7,241 shares of the medical research company’s stock, valued at approximately $655,000.
A number of other institutional investors and hedge funds have also modified their holdings of EW. State Street Corp raised its position in Edwards Lifesciences by 1.5% during the fourth quarter. State Street Corp now owns 25,991,524 shares of the medical research company’s stock valued at $2,215,777,000 after buying an additional 371,892 shares during the period. Wellington Management Group LLP boosted its position in Edwards Lifesciences by 4.8% during the 4th quarter. Wellington Management Group LLP now owns 21,793,949 shares of the medical research company’s stock worth $1,857,934,000 after acquiring an additional 989,533 shares during the period. Bank of New York Mellon Corp purchased a new position in Edwards Lifesciences during the 2nd quarter valued at about $1,274,082,000. Norges Bank purchased a new position in Edwards Lifesciences during the 4th quarter valued at about $803,686,000. Finally, Morgan Stanley increased its holdings in shares of Edwards Lifesciences by 12.4% in the 4th quarter. Morgan Stanley now owns 7,314,292 shares of the medical research company’s stock valued at $623,544,000 after purchasing an additional 804,942 shares during the period. Hedge funds and other institutional investors own 79.46% of the company’s stock.
Edwards Lifesciences Stock Up 0.4%
Shares of Edwards Lifesciences stock opened at $91.13 on Wednesday. The firm has a market cap of $52.47 billion, a price-to-earnings ratio of 52.37, a P/E/G ratio of 2.30 and a beta of 0.85. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.52 and a quick ratio of 3.77. Edwards Lifesciences Corporation has a 52-week low of $72.30 and a 52-week high of $96.29. The stock has a 50-day simple moving average of $88.90 and a 200-day simple moving average of $84.49.
Analyst Ratings Changes
A number of analysts have recently issued reports on EW shares. Robert W. Baird increased their price target on shares of Edwards Lifesciences from $85.00 to $87.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Leerink Partners raised shares of Edwards Lifesciences from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $87.00 to $101.00 in a research report on Friday, July 24th. TD Cowen reiterated a “buy” rating on shares of Edwards Lifesciences in a research note on Tuesday, July 21st. Piper Sandler reiterated an “overweight” rating and issued a $101.00 target price (up from $100.00) on shares of Edwards Lifesciences in a research report on Friday, July 24th. Finally, Wall Street Zen lowered shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Seventeen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $100.27.
View Our Latest Stock Report on EW
Insider Buying and Selling at Edwards Lifesciences
In other news, VP Donald E. Bobo, Jr. sold 23,145 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $86.42, for a total transaction of $2,000,190.90. Following the transaction, the vice president owned 98,611 shares in the company, valued at approximately $8,521,962.62. This trade represents a 19.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Andrew M. Dahl sold 568 shares of the firm’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $86.08, for a total transaction of $48,893.44. Following the transaction, the senior vice president owned 15,334 shares in the company, valued at $1,319,950.72. This represents a 3.57% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 25,570 shares of company stock worth $2,219,390 over the last ninety days. 0.31% of the stock is currently owned by insiders.
About Edwards Lifesciences
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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