Swedbank AB cut its holdings in shares of Edwards Lifesciences Corporation (NYSE:EW – Free Report) by 38.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 307,563 shares of the medical research company’s stock after selling 192,442 shares during the period. Swedbank AB’s holdings in Edwards Lifesciences were worth $26,220,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Edwards Lifesciences by 5.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,228,567 shares of the medical research company’s stock worth $104,834,000 after purchasing an additional 63,266 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Edwards Lifesciences by 1.1% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 75,176 shares of the medical research company’s stock worth $6,409,000 after purchasing an additional 797 shares during the period. Harel Insurance Investments & Financial Services Ltd. increased its stake in Edwards Lifesciences by 20.3% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 12,878 shares of the medical research company’s stock worth $1,098,000 after purchasing an additional 2,176 shares during the period. McIlrath & Eck LLC increased its stake in Edwards Lifesciences by 14.6% during the fourth quarter. McIlrath & Eck LLC now owns 1,057 shares of the medical research company’s stock worth $90,000 after purchasing an additional 135 shares during the period. Finally, Principal Financial Group Inc. increased its stake in Edwards Lifesciences by 2.1% during the fourth quarter. Principal Financial Group Inc. now owns 821,825 shares of the medical research company’s stock worth $70,061,000 after purchasing an additional 16,583 shares during the period. 79.46% of the stock is currently owned by hedge funds and other institutional investors.
Edwards Lifesciences Price Performance
EW stock opened at $82.75 on Friday. The company has a market capitalization of $47.71 billion, a P/E ratio of 44.01, a PEG ratio of 2.09 and a beta of 0.87. Edwards Lifesciences Corporation has a twelve month low of $72.30 and a twelve month high of $87.89. The business has a 50 day simple moving average of $82.16 and a 200-day simple moving average of $82.74. The company has a current ratio of 3.72, a quick ratio of 3.09 and a debt-to-equity ratio of 0.06.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on EW shares. BTIG Research boosted their price target on shares of Edwards Lifesciences from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Barclays restated an “overweight” rating and issued a $110.00 price objective (up from $104.00) on shares of Edwards Lifesciences in a report on Monday, April 27th. Stifel Nicolaus set a $110.00 price objective on shares of Edwards Lifesciences and gave the company a “buy” rating in a report on Tuesday, January 20th. Evercore restated an “outperform” rating and issued a $93.00 price objective on shares of Edwards Lifesciences in a report on Friday, April 24th. Finally, Wells Fargo & Company increased their price target on shares of Edwards Lifesciences from $96.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, February 11th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.65.
View Our Latest Analysis on EW
Insider Activity
In other Edwards Lifesciences news, VP Daniel J. Lippis sold 1,019 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $83.01, for a total value of $84,587.19. Following the sale, the vice president directly owned 33,934 shares of the company’s stock, valued at approximately $2,816,861.34. This trade represents a 2.92% decrease in their position. The sale was disclosed in a 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, VP Donald E. Bobo, Jr. sold 24,000 shares of Edwards Lifesciences stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $83.84, for a total value of $2,012,160.00. Following the completion of the sale, the vice president owned 21,266 shares of the company’s stock, valued at $1,782,941.44. This trade represents a 53.02% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 88,096 shares of company stock worth $7,288,799 over the last 90 days. 0.31% of the stock is currently owned by corporate 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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