Edwards Lifesciences Corporation $EW Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments cut its Edwards Lifesciences stake by 24.9% in the third quarter, selling 619,841 shares and retaining 1.87 million shares valued at about $159.3 million.
• Edwards reported quarterly revenue of $1.72 billion and EPS of $0.80, beating analyst estimates; sales grew year over year, and the company raised its sales outlook.
• Analysts were broadly positive, with several raising price targets; the stock had a consensus “Moderate Buy” rating and an average target of $108.88. Management also noted that increasing TAVR competition could pressure future growth.

Allspring Global Investments Holdings LLC trimmed its position in shares of Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 24.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,869,555 shares of the medical research company's stock after selling 619,841 shares during the period. Allspring Global Investments Holdings LLC owned 0.32% of Edwards Lifesciences worth $159,267,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Edwards Lifesciences in the second quarter valued at $5,318,092,000. Bank of New York Mellon Corp acquired a new stake in shares of Edwards Lifesciences in the second quarter worth $1,274,082,000. Bank of America Corp DE purchased a new position in shares of Edwards Lifesciences during the second quarter valued at $605,397,000. Deutsche Bank AG purchased a new position in shares of Edwards Lifesciences during the second quarter valued at $516,552,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Edwards Lifesciences by 0.6% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,488,643 shares of the medical research company's stock valued at $496,503,000 after buying an additional 30,495 shares in the last quarter. 79.46% of the stock is owned by institutional investors and hedge funds.

Edwards Lifesciences Price Performance

EW opened at $101.91 on Monday. The stock has a market cap of $58.60 billion, a price-to-earnings ratio of 57.58, a PEG ratio of 2.72 and a beta of 0.85. Edwards Lifesciences Corporation has a 1 year low of $74.66 and a 1 year high of $104.17. The company has a current ratio of 4.60, a quick ratio of 3.86 and a debt-to-equity ratio of 0.05. The stock has a fifty day moving average price of $88.92 and a 200 day moving average price of $85.78.

Edwards Lifesciences (NYSE:EW - Get Free Report) last issued its earnings results on Wednesday, November 4th. The medical research company reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.06. Edwards Lifesciences had a return on equity of 16.06% and a net margin of 15.30%. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the previous year, the company posted $0.67 earnings per share. The business's quarterly revenue was up 10.5% compared to the same quarter last year. Analysts forecast that Edwards Lifesciences Corporation will post 3.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on EW. Piper Sandler reissued an "overweight" rating and issued a $115.00 price objective (up from $101.00) on shares of Edwards Lifesciences in a research note on Thursday. Mizuho set a $120.00 price objective on Edwards Lifesciences in a research report on Thursday. Leerink Partners lifted their target price on Edwards Lifesciences from $101.00 to $112.00 and gave the company an "outperform" rating in a research note on Thursday. UBS Group upped their target price on Edwards Lifesciences from $110.00 to $118.00 and gave the company a "buy" rating in a report on Thursday. Finally, Royal Bank Of Canada increased their price target on shares of Edwards Lifesciences from $110.00 to $115.00 and gave the stock an "outperform" rating in a research report on Thursday. Twenty-three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $108.88.

Insider Activity

In related news, VP Daniel J. Lippis sold 619 shares of the stock in a transaction that occurred on Thursday, October 8th. The stock was sold at an average price of $85.65, for a total value of $53,017.35. Following the transaction, the vice president owned 40,034 shares in the company, valued at approximately $3,428,912.10. This represents a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Andrew M. Dahl sold 544 shares of the stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $91.06, for a total value of $49,536.64. Following the completion of the transaction, the senior vice president owned 14,868 shares in the company, valued at $1,353,880.08. This represents a 3.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 5,045 shares of company stock worth $451,596 in the last three months. 0.31% of the stock is owned by insiders.

More Edwards Lifesciences News

Here are the key news stories impacting Edwards Lifesciences this week:

• Positive Sentiment: Edwards reported Q3 sales growth of 11.2% to $1.72 billion, with adjusted earnings and revenue beating estimates. TMTT sales rose 45.6% and TAVR sales grew 8.8%; the company raised its sales outlook and set adjusted full-year EPS guidance of $2.97–$3.05. Edwards Q3 earnings call highlights
• Positive Sentiment: PROGRESS Trial results found TAVR outperformed active surveillance for at-risk patients with moderate aortic stenosis, including fewer combined death or heart-failure outcomes. The findings could support earlier use of the procedure and expand Edwards’ potential market. Trial data points to earlier TAVR use
• Positive Sentiment: Analysts lifted price targets following the results: UBS raised its target to $118 and JPMorgan to $120, while Piper Sandler reaffirmed its buy-equivalent rating with a $115 target. The latest target increases and reaffirmations add to bullish sentiment. UBS reaffirms buy rating Piper Sandler keeps buy rating
• Negative Sentiment: Management has acknowledged that more competition is coming in TAVR, a potential pressure on market share and future growth, although the recent results and trial data provide positive offsets. CEO comments on TAVR competition

Edwards Lifesciences Profile

Edwards Lifesciences is a medical technology company focused on therapies for structural heart disease and critical care. Its products include transcatheter and surgical heart valves, as well as technologies used to monitor patients during intensive care and surgery.

The company traces its origins to 1958, when engineer Lowell Edwards and surgeon Albert Starr began developing an artificial heart valve. Their work led to the Starr-Edwards valve, introduced in 1960. Edwards Lifesciences is headquartered in Irvine, California, and serves clinicians and patients around the world.

Its structural heart portfolio includes transcatheter aortic valve replacement (TAVR) systems and therapies addressing mitral and tricuspid valve disease.

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