Edwards Lifesciences Corporation (NYSE:EW) Shares Sold by Rathbones Group PLC

Key Points

• Rathbones Group PLC has reduced its stake in Edwards Lifesciences Corporation by 51.7%, now owning approximately 0.11% of the company, worth around $45.5 million.
• Several other institutional investors, including Jennison Associates and Northern Trust, have increased their stakes in Edwards Lifesciences, highlighting robust interest with 79.46% of shares held by institutional investors.
• Edwards Lifesciences reported an earnings per share (EPS) of $0.67 for the last quarter, surpassing analyst expectations, with revenue growing by 11.9% year-over-year to reach $1.53 billion.

Rathbones Group PLC decreased its position in Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 51.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 628,075 shares of the medical research company's stock after selling 671,096 shares during the quarter. Rathbones Group PLC owned approximately 0.11% of Edwards Lifesciences worth $45,523,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of EW. Vega Investment Solutions bought a new position in shares of Edwards Lifesciences in the fourth quarter worth about $27,000. SouthState Corp purchased a new stake in shares of Edwards Lifesciences during the first quarter worth about $27,000. Global X Japan Co. Ltd. grew its position in shares of Edwards Lifesciences by 116.1% during the first quarter. Global X Japan Co. Ltd. now owns 402 shares of the medical research company's stock worth $29,000 after purchasing an additional 216 shares in the last quarter. Tradewinds Capital Management LLC grew its position in shares of Edwards Lifesciences by 102.5% during the first quarter. Tradewinds Capital Management LLC now owns 405 shares of the medical research company's stock worth $29,000 after purchasing an additional 205 shares in the last quarter. Finally, Rossby Financial LCC purchased a new stake in shares of Edwards Lifesciences during the first quarter worth about $29,000. Institutional investors own 79.46% of the company's stock.

Insider Transactions at Edwards Lifesciences

In other Edwards Lifesciences news, insider Larry L. Wood sold 8,950 shares of Edwards Lifesciences stock in a transaction on Monday, June 16th. The stock was sold at an average price of $75.23, for a total transaction of $673,308.50. Following the completion of the sale, the insider directly owned 206,900 shares of the company's stock, valued at $15,565,087. The trade was a 4.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Donald E. Bobo, Jr. sold 2,570 shares of Edwards Lifesciences stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $77.40, for a total value of $198,918.00. Following the sale, the vice president directly owned 50,356 shares of the company's stock, valued at approximately $3,897,554.40. This trade represents a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,134 shares of company stock valued at $1,311,745. Company insiders own 1.29% of the company's stock.

Edwards Lifesciences Trading Up 1.0%

Shares of EW stock traded up $0.76 on Wednesday, reaching $77.69. 3,477,205 shares of the company's stock were exchanged, compared to its average volume of 5,023,297. Edwards Lifesciences Corporation has a 52 week low of $64.00 and a 52 week high of $83.00. The company has a current ratio of 4.68, a quick ratio of 3.87 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $45.61 billion, a PE ratio of 11.18, a P/E/G ratio of 3.71 and a beta of 1.08. The company's fifty day simple moving average is $77.10 and its 200 day simple moving average is $74.29.

Edwards Lifesciences (NYSE:EW - Get Free Report) last issued its earnings results on Thursday, July 24th. The medical research company reported $0.67 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.05. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.49 billion. Edwards Lifesciences had a return on equity of 15.01% and a net margin of 72.96%. Edwards Lifesciences's revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.70 EPS. As a group, analysts forecast that Edwards Lifesciences Corporation will post 2.45 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on EW shares. Daiwa America upgraded Edwards Lifesciences from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 29th. Stifel Nicolaus increased their target price on Edwards Lifesciences from $90.00 to $95.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Truist Financial increased their target price on Edwards Lifesciences from $81.00 to $82.00 and gave the stock a "hold" rating in a research report on Friday, July 25th. Dbs Bank upgraded Edwards Lifesciences to a "hold" rating in a research report on Monday, June 2nd. Finally, JPMorgan Chase & Co. increased their target price on Edwards Lifesciences from $80.00 to $85.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $85.90.

Edwards Lifesciences 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.