Charles Schwab Investment Management Inc. Purchases 198,882 Shares of Edwards Lifesciences Corporation (NYSE:EW)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Edwards Lifesciences Corporation by 5.3%, owning approximately 3.96 million shares valued at $287.14 million as of the latest SEC filing.
• Insider Larry L. Wood sold 8,950 shares at an average price of $75.23, reducing his ownership by 4.15%, while company insiders recently sold a total of 17,134 shares worth over $1.3 million.
• Edwards Lifesciences reported earnings of $0.67 per share, exceeding analysts' expectations, with revenues of $1.53 billion, marking an 11.9% year-over-year increase.

Charles Schwab Investment Management Inc. grew its stake in shares of Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 5.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,961,643 shares of the medical research company's stock after purchasing an additional 198,882 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.67% of Edwards Lifesciences worth $287,140,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its stake in shares of Edwards Lifesciences by 0.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 30,195 shares of the medical research company's stock valued at $2,170,000 after purchasing an additional 145 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in Edwards Lifesciences during the fourth quarter worth about $49,038,000. Dynamic Advisor Solutions LLC boosted its stake in Edwards Lifesciences by 2.4% during the first quarter. Dynamic Advisor Solutions LLC now owns 15,506 shares of the medical research company's stock worth $1,124,000 after acquiring an additional 370 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Edwards Lifesciences by 13.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 77,016 shares of the medical research company's stock worth $5,582,000 after acquiring an additional 9,188 shares in the last quarter. Finally, Advanced Portfolio Management LLC bought a new stake in Edwards Lifesciences during the fourth quarter worth about $328,000. Institutional investors own 79.46% of the company's stock.

Analyst Upgrades and Downgrades

EW has been the topic of several research reports. Piper Sandler boosted their price objective on shares of Edwards Lifesciences from $83.00 to $90.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Wall Street Zen raised shares of Edwards Lifesciences from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. William Blair raised shares of Edwards Lifesciences to a "strong-buy" rating in a research note on Friday, July 25th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Edwards Lifesciences from $85.00 to $94.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Finally, Argus raised shares of Edwards Lifesciences to a "strong-buy" rating in a report on Thursday, July 10th. One analyst has rated the stock with a sell rating, ten have given a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, Edwards Lifesciences currently has a consensus rating of "Moderate Buy" and a consensus price target of $85.90.

Insider Buying and Selling at Edwards Lifesciences

In related news, VP Daveen Chopra sold 1,500 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $75.08, for a total transaction of $112,620.00. Following the completion of the sale, the vice president directly owned 33,496 shares in the company, valued at approximately $2,514,879.68. The trade was a 4.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Donald E. Bobo, Jr. sold 2,570 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $77.40, for a total transaction of $198,918.00. Following the sale, the vice president owned 50,356 shares of the company's stock, valued at $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. Over the last three months, insiders have sold 17,134 shares of company stock valued at $1,311,745. 0.34% of the stock is owned by corporate insiders.

Edwards Lifesciences Stock Performance

Shares of EW traded up $0.75 during mid-day trading on Wednesday, hitting $77.68. 1,545,442 shares of the company traded hands, compared to its average volume of 4,515,200. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.87 and a current ratio of 4.68. The stock has a 50-day moving average price of $77.11 and a two-hundred day moving average price of $74.26. Edwards Lifesciences Corporation has a 1 year low of $64.00 and a 1 year high of $83.00. The stock has a market cap of $45.60 billion, a price-to-earnings ratio of 11.19, a P/E/G ratio of 3.77 and a beta of 1.08.

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

About Edwards Lifesciences

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.