AIA Group Ltd Has $48.24 Million Stake in Edwards Lifesciences Corporation (NYSE:EW)

Key Points

• AIA Group Ltd decreased its stake in Edwards Lifesciences by 28.5%, now holding approximately 665,578 shares, valued at about $48.2 million.
• Several large investors, like Jennison Associates LLC and Brown Advisory Inc., have increased their stakes in the company by over 30% and 7.6%, respectively, during recent quarters.
• Edwards Lifesciences reported $1.53 billion in revenue for the last quarter, marking an 11.9% year-over-year increase, and an EPS of $0.67, surpassing the consensus estimate.

AIA Group Ltd decreased its position in Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 28.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 665,578 shares of the medical research company's stock after selling 265,355 shares during the quarter. Edwards Lifesciences accounts for approximately 1.2% of AIA Group Ltd's holdings, making the stock its 14th biggest holding. AIA Group Ltd owned approximately 0.11% of Edwards Lifesciences worth $48,241,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in EW. Vega Investment Solutions bought a new stake in shares of Edwards Lifesciences in the 4th quarter worth about $27,000. SouthState Corp bought a new stake in Edwards Lifesciences during the 1st quarter worth about $27,000. Global X Japan Co. Ltd. grew its holdings in Edwards Lifesciences by 116.1% during the 1st quarter. Global X Japan Co. Ltd. now owns 402 shares of the medical research company's stock worth $29,000 after acquiring an additional 216 shares during the last quarter. Tradewinds Capital Management LLC grew its holdings in Edwards Lifesciences by 102.5% during the 1st quarter. Tradewinds Capital Management LLC now owns 405 shares of the medical research company's stock worth $29,000 after acquiring an additional 205 shares during the last quarter. Finally, Rossby Financial LCC bought a new stake in Edwards Lifesciences during the 1st quarter worth about $29,000. Institutional investors own 79.46% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on EW. Evercore ISI increased their price objective on shares of Edwards Lifesciences from $77.00 to $80.00 and gave the stock an "in-line" rating in a report on Friday, July 25th. Robert W. Baird increased their price objective on shares of Edwards Lifesciences from $78.00 to $79.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. William Blair raised shares of Edwards Lifesciences to a "strong-buy" rating in a report on Friday, July 25th. Royal Bank Of Canada increased their price objective on shares of Edwards Lifesciences from $85.00 to $89.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Edwards Lifesciences from $80.00 to $85.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, Edwards Lifesciences currently has a consensus rating of "Moderate Buy" and an average target price of $85.90.

Insider Buying and Selling at Edwards Lifesciences

In other news, insider Larry L. Wood sold 8,950 shares of Edwards Lifesciences stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $75.23, for a total value of $673,308.50. Following the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Daveen Chopra sold 1,500 shares of Edwards Lifesciences 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 owned 33,496 shares in the company, valued at $2,514,879.68. This trade represents a 4.29% decrease in their ownership of the stock. 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 ninety days. 1.29% of the stock is currently owned by company insiders.

Edwards Lifesciences Stock Up 1.0%

EW stock traded up $0.76 during mid-day trading on Wednesday, hitting $77.69. 3,477,205 shares of the company were exchanged, compared to its average volume of 5,023,297. 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 firm has a market cap of $45.61 billion, a P/E ratio of 11.18, a P/E/G ratio of 3.71 and a beta of 1.08. The firm's 50 day simple moving average is $77.10 and its 200 day simple moving average is $74.29. Edwards Lifesciences Corporation has a 1-year low of $64.00 and a 1-year high of $83.00.

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