Russell Investments Group Ltd. increased its stake in shares of Edwards Lifesciences Corporation (NYSE:EW – Free Report) by 4.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,907,920 shares of the medical research company’s stock after buying an additional 79,385 shares during the quarter. Russell Investments Group Ltd. owned about 0.33% of Edwards Lifesciences worth $148,339,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Edwards Lifesciences in the second quarter valued at $580,640,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of Edwards Lifesciences by 111.2% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 9,129,357 shares of the medical research company’s stock valued at $714,006,000 after acquiring an additional 4,805,819 shares during the period. Marshall Wace LLP grew its position in shares of Edwards Lifesciences by 127.5% during the second quarter. Marshall Wace LLP now owns 6,895,579 shares of the medical research company’s stock worth $539,303,000 after acquiring an additional 3,864,908 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Edwards Lifesciences by 19.6% in the 3rd quarter. Jennison Associates LLC now owns 13,958,774 shares of the medical research company’s stock worth $1,085,574,000 after acquiring an additional 2,287,783 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Edwards Lifesciences by 8.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 19,010,227 shares of the medical research company’s stock worth $1,478,425,000 after acquiring an additional 1,423,365 shares during the period. 79.46% of the stock is owned by institutional investors and hedge funds.
Edwards Lifesciences Stock Performance
Shares of EW opened at $81.71 on Monday. The firm has a market capitalization of $47.46 billion, a PE ratio of 44.65, a P/E/G ratio of 2.13 and a beta of 0.93. The company has a quick ratio of 3.09, a current ratio of 3.72 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average price of $82.56 and a 200 day moving average price of $81.47. Edwards Lifesciences Corporation has a 52-week low of $65.94 and a 52-week high of $87.89.
Analysts Set New Price Targets
EW has been the topic of several recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Edwards Lifesciences in a research report on Wednesday, January 21st. The Goldman Sachs Group restated a “buy” rating and issued a $95.00 price target (down from $108.00) on shares of Edwards Lifesciences in a research note on Wednesday, February 11th. BTIG Research reaffirmed a “buy” rating and set a $103.00 price target on shares of Edwards Lifesciences in a report on Wednesday, February 11th. Canaccord Genuity Group set a $87.00 price objective on Edwards Lifesciences and gave the stock a “hold” rating in a research report on Wednesday, December 17th. Finally, Royal Bank Of Canada increased their price objective on Edwards Lifesciences from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, December 5th. Three analysts have rated the stock with a Strong Buy rating, fifteen have given 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 an average target price of $96.14.
Check Out Our Latest Report on Edwards Lifesciences
Insider Activity at Edwards Lifesciences
In other Edwards Lifesciences news, CFO Scott B. Ullem sold 7,700 shares of the company’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $84.47, for a total value of $650,419.00. Following the completion of the sale, the chief financial officer directly owned 39,898 shares of the company’s stock, valued at approximately $3,370,184.06. This represents a 16.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 24,000 shares of the firm’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $83.84, for a total value of $2,012,160.00. Following the sale, the vice president directly owned 21,266 shares of the company’s stock, valued at approximately $1,782,941.44. This represents a 53.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 79,144 shares of company stock worth $6,685,688 over the last quarter. 0.34% of the stock is currently owned by company insiders.
Edwards Lifesciences Company 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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