Edwards Lifesciences Corporation $EW Stock Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments cut its Edwards Lifesciences stake by 8.5% in the third quarter, selling 194,507 shares; it retained 2,094,238 shares valued at about $180.9 million.
• Edwards Lifesciences reported quarterly EPS of $0.80, beating the $0.74 consensus, while revenue rose 10.5% year over year to $1.72 billion.
• Analysts’ consensus rating was “Moderate Buy”, with an average price target of $109.56; 23 analysts rated the stock Buy and three rated it Hold.

Russell Investments Group Ltd. trimmed its holdings in shares of Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 8.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,094,238 shares of the medical research company's stock after selling 194,507 shares during the quarter. Russell Investments Group Ltd. owned 0.36% of Edwards Lifesciences worth $180,905,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EW. Flagship Harbor Advisors LLC boosted its holdings in Edwards Lifesciences by 1.2% in the third quarter. Flagship Harbor Advisors LLC now owns 10,615 shares of the medical research company's stock worth $916,000 after acquiring an additional 125 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its holdings in shares of Edwards Lifesciences by 1.8% during the third quarter. Fifth Third Wealth Advisors LLC now owns 7,268 shares of the medical research company's stock valued at $627,000 after acquiring an additional 132 shares in the last quarter. Calamos Wealth Management LLC raised its position in shares of Edwards Lifesciences by 6.1% in the 3rd quarter. Calamos Wealth Management LLC now owns 2,438 shares of the medical research company's stock valued at $210,000 after purchasing an additional 141 shares during the last quarter. Signaturefd LLC raised its position in shares of Edwards Lifesciences by 1.4% in the 3rd quarter. Signaturefd LLC now owns 10,034 shares of the medical research company's stock valued at $866,000 after purchasing an additional 142 shares during the last quarter. Finally, NorthRock Partners LLC boosted its stake in Edwards Lifesciences by 1.0% in the 2nd quarter. NorthRock Partners LLC now owns 16,191 shares of the medical research company's stock worth $1,465,000 after purchasing an additional 153 shares in the last quarter. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

Edwards Lifesciences Price Performance

NYSE:EW opened at $105.79 on Friday. The firm's fifty day moving average is $90.07 and its two-hundred day moving average is $86.20. The firm has a market cap of $60.83 billion, a price-to-earnings ratio of 59.77, a PEG ratio of 2.82 and a beta of 0.85. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.86 and a current ratio of 4.60. Edwards Lifesciences Corporation has a one year low of $74.66 and a one year high of $106.80.

Edwards Lifesciences (NYSE:EW - Get Free Report) last released its quarterly earnings data on Wednesday, November 4th. The medical research company reported $0.80 earnings per share 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 business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter last year, the business posted $0.67 EPS. The company's revenue was up 10.5% on a year-over-year basis. Research analysts expect that Edwards Lifesciences Corporation will post 3.01 EPS for the current year.

Insider Buying and Selling

In other Edwards Lifesciences news, VP Daniel Lippis sold 619 shares of the business's stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $104.25, for a total value of $64,530.75. Following the completion of the transaction, the vice president directly owned 40,034 shares of the company's stock, valued at approximately $4,173,544.50. The trade was a 1.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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 company's stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $89.98, for a total value of $237,907.12. Following the completion of the sale, the vice president owned 17,984 shares in the company, valued at approximately $1,618,200.32. This represents a 12.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 53,945 shares of company stock valued at $5,498,306 in the last ninety days. Insiders own 0.31% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on EW. Piper Sandler reaffirmed an "overweight" rating and issued a $115.00 price target (up from $101.00) on shares of Edwards Lifesciences in a report on Thursday, November 5th. Jefferies Financial Group lifted their price target on Edwards Lifesciences from $102.00 to $105.00 and gave the stock a "buy" rating in a research report on Friday, July 24th. Mizuho set a $120.00 price objective on Edwards Lifesciences in a report on Thursday, November 5th. UBS Group raised their price objective on Edwards Lifesciences from $110.00 to $118.00 and gave the stock a "buy" rating in a research note on Thursday, November 5th. Finally, TD Cowen lifted their target price on Edwards Lifesciences from $117.00 to $121.00 and gave the stock a "buy" rating in a report on Wednesday. Twenty-three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Edwards Lifesciences presently has a consensus rating of "Moderate Buy" and an average target price of $109.56.

Edwards Lifesciences Company 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.

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