Edwards Lifesciences Corporation $EW Stake Trimmed by Candriam S.C.A.

Key Points

• Candriam S.C.A. cut its Edwards Lifesciences stake by 44.1% in the third quarter, selling 292,909 shares and ending the period with 370,875 shares worth about $32.1 million.
• Edwards reported quarterly revenue of $1.72 billion and EPS of $0.80, beating analyst estimates; sales rose year over year, and the company raised its sales outlook. TMTT sales grew 45.6% and TAVR sales 8.8%.
• Analysts raised price targets after the results, but rising competition in TAVR remains a potential risk to market share and future growth.

Candriam S.C.A. reduced its holdings in Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 44.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 370,875 shares of the medical research company's stock after selling 292,909 shares during the quarter. Candriam S.C.A. owned about 0.06% of Edwards Lifesciences worth $32,131,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in EW. W.G. Shaheen & Associates DBA Whitney & Co boosted its holdings in Edwards Lifesciences by 0.5% in the third quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 178,438 shares of the medical research company's stock valued at $15,403,000 after acquiring an additional 975 shares in the last quarter. Ashton Thomas Private Wealth LLC lifted its position in shares of Edwards Lifesciences by 10.3% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 5,195 shares of the medical research company's stock worth $448,000 after purchasing an additional 483 shares during the period. CenterBook Partners LP bought a new stake in shares of Edwards Lifesciences during the 3rd quarter valued at about $498,000. Asset One Wealth Management LLC bought a new position in Edwards Lifesciences in the third quarter worth about $315,000. Finally, Calamos Wealth Management LLC raised its stake in Edwards Lifesciences by 6.1% in the third quarter. Calamos Wealth Management LLC now owns 2,438 shares of the medical research company's stock worth $210,000 after buying an additional 141 shares in the last quarter. 79.46% of the stock is currently owned by institutional investors.

Edwards Lifesciences Stock Down 0.2%

NYSE:EW opened at $101.91 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.60 and a quick ratio of 3.86. The firm's 50-day moving average price is $88.92 and its 200-day moving average price is $85.78. The company has a market capitalization of $58.60 billion, a PE ratio of 57.58, a P/E/G 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.

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

Edwards Lifesciences News Summary

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

Insiders Place Their Bets

In other Edwards Lifesciences news, SVP Andrew M. Dahl sold 544 shares of the firm's stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $91.06, for a total transaction of $49,536.64. Following the completion of the transaction, the senior vice president owned 14,868 shares of the company's stock, valued at approximately $1,353,880.08. This trade represents a 3.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Daniel Lippis sold 619 shares of Edwards Lifesciences stock in a transaction that occurred on Thursday, October 8th. The shares were sold at an average price of $85.65, for a total transaction of $53,017.35. Following the transaction, the vice president owned 40,034 shares of the company's stock, valued at $3,428,912.10. The trade was a 1.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 5,045 shares of company stock worth $451,596. 0.31% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on EW shares. Piper Sandler restated an "overweight" rating and issued a $115.00 price objective (up from $101.00) on shares of Edwards Lifesciences in a report on Thursday. Mizuho set a $120.00 target price on Edwards Lifesciences in a report on Thursday. Raymond James Financial upped their target price on Edwards Lifesciences from $100.00 to $103.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. BTIG Research increased their target price on Edwards Lifesciences from $110.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, The Goldman Sachs Group raised their target price on Edwards Lifesciences from $98.00 to $102.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. Twenty-three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $108.88.

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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