Edwards Lifesciences Corporation $EW Stock: Generali Asset Management SPA SGR Lowers Position

Key Points

• Generali Asset Management SPA SGR cut its Edwards Lifesciences stake by 25.6% in the third quarter, selling 13,981 shares and retaining 40,646 shares valued at approximately $3.5 million.
• Institutional investors own 79.46% of Edwards Lifesciences, while several other asset managers increased their positions during the quarter.
• Analysts remain broadly positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $100.31; shares recently opened at $94.35.

Generali Asset Management SPA SGR lowered its stake in Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 25.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,646 shares of the medical research company's stock after selling 13,981 shares during the period. Generali Asset Management SPA SGR's holdings in Edwards Lifesciences were worth $3,509,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Asset Management One Co. Ltd. grew its position in Edwards Lifesciences by 1.7% in the 3rd quarter. Asset Management One Co. Ltd. now owns 267,780 shares of the medical research company's stock valued at $23,115,000 after buying an additional 4,515 shares during the last quarter. Flagship Harbor Advisors LLC increased its stake in Edwards Lifesciences by 1.2% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 10,615 shares of the medical research company's stock valued at $916,000 after buying an additional 125 shares during the period. Plimoth Trust Co. LLC increased its stake in Edwards Lifesciences by 36.2% in the 3rd quarter. Plimoth Trust Co. LLC now owns 3,102 shares of the medical research company's stock valued at $268,000 after buying an additional 824 shares during the period. Apollon Wealth Management LLC raised its position in Edwards Lifesciences by 9.2% during the 3rd quarter. Apollon Wealth Management LLC now owns 10,944 shares of the medical research company's stock worth $945,000 after buying an additional 920 shares during the last quarter. Finally, Townsend & Associates Inc lifted its stake in shares of Edwards Lifesciences by 1.5% in the 3rd quarter. Townsend & Associates Inc now owns 206,533 shares of the medical research company's stock worth $17,886,000 after acquiring an additional 3,132 shares during the period. Hedge funds and other institutional investors own 79.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on EW. Mizuho lifted their target price on shares of Edwards Lifesciences from $100.00 to $105.00 and gave the company an "outperform" rating in a report on Wednesday, July 15th. Truist Financial increased their price target on shares of Edwards Lifesciences from $90.00 to $95.00 and gave the stock a "hold" rating in a report on Thursday, July 16th. Raymond James Financial raised their price objective on shares of Edwards Lifesciences from $100.00 to $103.00 and gave the company an "outperform" rating in a research report on Friday, July 24th. Leerink Partners raised Edwards Lifesciences from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $87.00 to $101.00 in a report on Friday, July 24th. Finally, Wall Street Zen upgraded Edwards Lifesciences from a "hold" rating to a "buy" rating in a research report on Saturday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $100.31.

Edwards Lifesciences Price Performance

Edwards Lifesciences stock opened at $94.35 on Friday. Edwards Lifesciences Corporation has a one year low of $74.66 and a one year high of $96.29. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.77 and a current ratio of 4.52. The business has a fifty day moving average of $88.11 and a two-hundred day moving average of $85.38. The company has a market cap of $54.33 billion, a P/E ratio of 54.22, a price-to-earnings-growth ratio of 2.40 and a beta of 0.87.

Insider Transactions at Edwards Lifesciences

In related news, VP Daniel Lippis sold 619 shares of the firm's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $92.03, for a total value of $56,966.57. Following the completion of the sale, the vice president owned 40,034 shares in the company, valued at $3,684,329.02. This trade represents a 1.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Annette Brüls sold 2,644 shares of the business's stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $89.98, for a total transaction of $237,907.12. Following the sale, the vice president directly owned 17,984 shares in the company, valued at approximately $1,618,200.32. This represents a 12.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 5,045 shares of company stock valued at $451,596 in the last ninety days. 0.31% of the stock is currently owned by company insiders.

Edwards Lifesciences Profile

Edwards Lifesciences Corporation NYSE: EW is a medical technology company focused on therapies for structural heart disease and critical care. The company develops and manufactures products designed to treat conditions affecting the heart's valves, including aortic, mitral and tricuspid valve disorders.

Its portfolio includes transcatheter aortic valve replacement systems, transcatheter mitral and tricuspid therapies, surgical heart valves and valve-repair technologies. Edwards also provides related delivery systems and other medical devices used by physicians in minimally invasive and open-heart procedures.

Founded in 1958 by Miles Lowell Edwards, the company is headquartered in Irvine, California, and serves healthcare providers and patients internationally.

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