First National Trust Co acquired a new position in shares of Edwards Lifesciences Corporation (NYSE:EW – Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,492 shares of the medical research company’s stock, valued at approximately $894,000.
A number of other large investors have also recently bought and sold shares of EW. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Edwards Lifesciences by 278.3% during the third 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 worth $434,318,000 after buying an additional 4,108,270 shares in the last quarter. Viking Global Investors LP acquired a new stake in Edwards Lifesciences during the third quarter worth about $238,688,000. Bank of New York Mellon Corp grew its stake in Edwards Lifesciences by 8.1% during the third 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 buying an additional 1,423,365 shares in the last quarter. AQR Capital Management LLC grew its stake in Edwards Lifesciences by 114.5% during the third quarter. AQR Capital Management LLC now owns 2,081,346 shares of the medical research company’s stock worth $161,055,000 after buying an additional 1,111,139 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in Edwards Lifesciences by 1,952.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,149,700 shares of the medical research company’s stock worth $98,012,000 after buying an additional 1,093,692 shares in the last quarter. 79.46% of the stock is currently owned by institutional investors and hedge funds.
Edwards Lifesciences Trading Up 0.2%
EW opened at $85.93 on Monday. The company’s 50 day moving average is $81.42 and its 200-day moving average is $82.89. Edwards Lifesciences Corporation has a 1-year low of $72.30 and a 1-year high of $87.89. The company has a current ratio of 4.42, a quick ratio of 3.63 and a debt-to-equity ratio of 0.06. The company has a market cap of $49.48 billion, a P/E ratio of 45.71, a PEG ratio of 2.15 and a beta of 0.87.
Insider Activity
In other news, CFO Scott B. Ullem sold 13,000 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $3,177,507.96. This trade represents a 24.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Daniel J. Lippis sold 620 shares of Edwards Lifesciences stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $81.14, for a total transaction of $50,306.80. Following the sale, the vice president owned 40,411 shares in the company, valued at approximately $3,278,948.54. This represents a 1.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 106,684 shares of company stock worth $8,811,739. Corporate insiders own 0.31% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on EW shares. Wells Fargo & Company increased their price objective on shares of Edwards Lifesciences from $96.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 11th. UBS Group reiterated a “neutral” rating and set a $94.00 price objective on shares of Edwards Lifesciences in a research note on Wednesday, February 4th. The Goldman Sachs Group reiterated a “buy” rating and set a $95.00 price objective (down from $108.00) on shares of Edwards Lifesciences in a research note on Wednesday, February 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Edwards Lifesciences in a research note on Monday, April 20th. Finally, Canaccord Genuity Group set a $85.00 price objective on shares of Edwards Lifesciences and gave the stock a “hold” rating in a research note on Friday, April 24th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $95.65.
View Our Latest Stock Analysis on EW
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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