Russell Investments Group Ltd. Has $120.74 Million Holdings in Edwards Lifesciences Corporation (NYSE:EW)

Key Points

• Russell Investments Group Ltd. increased its holdings in Edwards Lifesciences Corporation by 9.5%, acquiring an additional 145,156 shares in the first quarter, bringing its total ownership to 1,667,171 shares valued at approximately $120.7 million.
• Several analysts have raised their price targets for Edwards Lifesciences, with Evercore ISI increasing its target from $77 to $80 and Royal Bank of Canada from $85 to $89, reflecting a consensus rating of "Moderate Buy" with a target price of $85.90.
• Edwards Lifesciences reported a quarterly earnings per share (EPS) of $0.67, exceeding analyst expectations of $0.62, alongside a revenue of $1.53 billion, which marks an 11.9% increase year-over-year.

Russell Investments Group Ltd. increased its position in Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 9.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,667,171 shares of the medical research company's stock after purchasing an additional 145,156 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.28% of Edwards Lifesciences worth $120,738,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC bought a new position in shares of Edwards Lifesciences during the fourth quarter valued at $266,000. Bank Pictet & Cie Europe AG lifted its holdings in shares of Edwards Lifesciences by 16.7% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 10,231 shares of the medical research company's stock valued at $757,000 after acquiring an additional 1,463 shares during the period. Townsquare Capital LLC lifted its holdings in shares of Edwards Lifesciences by 24.8% during the fourth quarter. Townsquare Capital LLC now owns 6,501 shares of the medical research company's stock valued at $481,000 after acquiring an additional 1,293 shares during the period. CreativeOne Wealth LLC bought a new position in shares of Edwards Lifesciences during the fourth quarter valued at $201,000. Finally, Ontario Teachers Pension Plan Board bought a new position in shares of Edwards Lifesciences during the fourth quarter valued at $1,453,000. 79.46% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Larry L. Wood sold 8,950 shares of the firm's stock in a transaction dated 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 transaction, the insider directly owned 206,900 shares in the company, valued at $15,565,087. This trade represents a 4.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Daniel J. Lippis sold 4,114 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $79.46, for a total value of $326,898.44. Following the sale, the vice president directly owned 22,002 shares of the company's stock, valued at $1,748,278.92. This represents a 15.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,134 shares of company stock valued at $1,311,745 over the last three months. 1.29% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on EW shares. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Edwards Lifesciences in a report on Friday, July 25th. Wells Fargo & Company increased their target price on shares of Edwards Lifesciences from $84.00 to $88.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Morgan Stanley increased their target price on Edwards Lifesciences from $75.00 to $81.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Truist Financial raised their price objective on shares of Edwards Lifesciences from $81.00 to $82.00 and gave the stock a "hold" rating in a report on Friday, July 25th. Finally, Piper Sandler boosted their target price on Edwards Lifesciences from $83.00 to $90.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Edwards Lifesciences presently has an average rating of "Moderate Buy" and an average price target of $85.90.

Edwards Lifesciences Trading Up 0.1%

NYSE:EW traded up $0.08 during mid-day trading on Friday, hitting $78.26. 2,620,544 shares of the company's stock were exchanged, compared to its average volume of 4,505,339. Edwards Lifesciences Corporation has a fifty-two week low of $64.00 and a fifty-two 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 firm has a market capitalization of $45.95 billion, a P/E ratio of 11.26, a PEG ratio of 3.75 and a beta of 1.08. The company has a 50 day simple moving average of $77.11 and a 200-day simple moving average of $74.35.

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

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.