Bank of New York Mellon Corp Decreases Position in Edwards Lifesciences Corporation (NYSE:EW)

Bank of New York Mellon Corp decreased its holdings in shares of Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 2.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,656,138 shares of the medical research company's stock after selling 468,983 shares during the period. Bank of New York Mellon Corp owned 3.00% of Edwards Lifesciences worth $1,279,717,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Alyeska Investment Group L.P. bought a new position in Edwards Lifesciences during the 4th quarter valued at approximately $49,038,000. Dynamic Advisor Solutions LLC raised its position in shares of Edwards Lifesciences by 2.4% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 15,506 shares of the medical research company's stock worth $1,124,000 after purchasing an additional 370 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Edwards Lifesciences by 13.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 77,016 shares of the medical research company's stock worth $5,582,000 after purchasing an additional 9,188 shares in the last quarter. Simplify Asset Management Inc. purchased a new stake in Edwards Lifesciences during the 4th quarter valued at about $5,979,000. Finally, Assetmark Inc. increased its stake in Edwards Lifesciences by 786.9% during the 4th quarter. Assetmark Inc. now owns 1,082 shares of the medical research company's stock valued at $80,000 after purchasing an additional 960 shares in the last quarter. Institutional investors own 79.46% of the company's stock.

Wall Street Analysts Forecast Growth

EW has been the topic of several analyst reports. Dbs Bank upgraded shares of Edwards Lifesciences to a "hold" rating in a research note on Monday, June 2nd. Canaccord Genuity Group upped their price objective on Edwards Lifesciences from $71.00 to $75.00 and gave the company a "hold" rating in a research report on Friday, April 25th. Truist Financial cut their target price on Edwards Lifesciences from $78.00 to $75.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. Citigroup restated a "buy" rating and issued a $95.00 price target (up previously from $84.00) on shares of Edwards Lifesciences in a research note on Thursday, May 22nd. Finally, Wall Street Zen downgraded Edwards Lifesciences from a "buy" rating to a "hold" rating in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $80.20.

Edwards Lifesciences Stock Performance

Shares of EW stock traded down $0.25 during trading hours on Friday, reaching $76.77. 1,679,364 shares of the company traded hands, compared to its average volume of 5,253,911. The firm has a 50-day moving average price of $76.12 and a 200 day moving average price of $73.27. The company has a market cap of $45.03 billion, a P/E ratio of 10.97, a P/E/G ratio of 3.86 and a beta of 1.11. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.45 and a quick ratio of 3.66. Edwards Lifesciences Corporation has a 12-month low of $58.93 and a 12-month high of $95.25.

Edwards Lifesciences (NYSE:EW - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.60 by $0.04. The company had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.40 billion. Edwards Lifesciences had a return on equity of 16.62% and a net margin of 75.48%. The firm's revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.66 EPS. As a group, sell-side analysts predict that Edwards Lifesciences Corporation will post 2.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Edwards Lifesciences news, CEO Bernard J. Zovighian sold 5,980 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $74.91, for a total transaction of $447,961.80. Following the completion of the transaction, the chief executive officer owned 58,284 shares in the company, valued at $4,366,054.44. This trade represents a 9.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Scott B. Ullem sold 11,250 shares of the company's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $74.40, for a total value of $837,000.00. Following the sale, the chief financial officer directly owned 41,098 shares in the company, valued at $3,057,691.20. This trade represents a 21.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,648 shares of company stock worth $2,998,866 in the last 90 days. 1.29% of the stock is owned by company insiders.

Edwards Lifesciences Company Profile

Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of aortic heart valves under the Edwards SAPIEN family of valves system; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases under the PASCAL PRECISION and Cardioband names.