Forsta AP Fonden Has $8.86 Million Stake in Edwards Lifesciences Corporation (NYSE:EW)

Key Points

• Forsta AP Fonden has reduced its holdings in Edwards Lifesciences Corporation by 6.1%, now owning 122,200 shares valued at approximately $8.86 million.
• Multiple institutional investors, including Jennison Associates LLC and Marshall Wace LLP, significantly increased their stakes during the first quarter, demonstrating strong institutional interest in the company.
• Edwards Lifesciences reported $0.67 earnings per share, exceeding analysts' expectations, with revenue of $1.53 billion for the quarter, reflecting an 11.9% year-over-year increase.

Forsta AP Fonden decreased its position in shares of Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 6.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 122,200 shares of the medical research company's stock after selling 7,900 shares during the quarter. Forsta AP Fonden's holdings in Edwards Lifesciences were worth $8,857,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Jennison Associates LLC boosted its holdings in shares of Edwards Lifesciences by 34.3% during the first quarter. Jennison Associates LLC now owns 10,086,033 shares of the medical research company's stock valued at $731,036,000 after acquiring an additional 2,576,383 shares during the period. Brown Advisory Inc. lifted its holdings in Edwards Lifesciences by 7.6% in the fourth quarter. Brown Advisory Inc. now owns 8,155,355 shares of the medical research company's stock worth $603,741,000 after purchasing an additional 575,699 shares during the period. Deutsche Bank AG grew its position in Edwards Lifesciences by 10.4% in the 4th quarter. Deutsche Bank AG now owns 6,903,202 shares of the medical research company's stock valued at $511,044,000 after buying an additional 652,923 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Edwards Lifesciences by 8.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,519,257 shares of the medical research company's stock valued at $482,621,000 after buying an additional 513,468 shares in the last quarter. Finally, Northern Trust Corp grew its position in Edwards Lifesciences by 21.8% in the 4th quarter. Northern Trust Corp now owns 6,505,227 shares of the medical research company's stock valued at $481,582,000 after buying an additional 1,165,845 shares in the last quarter. Institutional investors and hedge funds own 79.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on EW. Mizuho increased their target price on shares of Edwards Lifesciences from $87.00 to $95.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Royal Bank Of Canada increased their target price on shares of Edwards Lifesciences from $85.00 to $89.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Truist Financial increased their target price on shares of Edwards Lifesciences from $81.00 to $82.00 and gave the company a "hold" rating in a research report on Friday, July 25th. Morgan Stanley increased their target price on shares of Edwards Lifesciences from $75.00 to $81.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Finally, BTIG Research upgraded shares of Edwards Lifesciences from a "neutral" rating to a "buy" rating and set a $100.00 target price for the company in a research report on Tuesday, July 29th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $85.90.

Insider Activity

In other Edwards Lifesciences news, insider Larry L. Wood sold 8,950 shares of the company's stock in a transaction dated Monday, June 16th. The shares were 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 approximately $15,565,087. This represents a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Daniel J. Lippis sold 4,114 shares of the company's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $79.46, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,134 shares of company stock valued at $1,311,745 over the last ninety days. Corporate insiders own 0.34% of the company's stock.

Edwards Lifesciences Trading Up 1.0%

EW stock traded up $0.76 during mid-day trading on Wednesday, reaching $77.69. 3,477,205 shares of the stock traded hands, compared to its average volume of 4,528,455. The company has a current ratio of 4.68, a quick ratio of 3.87 and a debt-to-equity ratio of 0.06. Edwards Lifesciences Corporation has a 52-week low of $64.00 and a 52-week high of $83.00. The company has a market cap of $45.61 billion, a P/E ratio of 11.18, a P/E/G ratio of 3.77 and a beta of 1.08. The stock's fifty day moving average is $77.11 and its 200-day moving average is $74.26.

Edwards Lifesciences (NYSE:EW - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The medical research company reported $0.67 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 during the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the firm earned $0.70 earnings per share. The business's quarterly revenue was up 11.9% on a year-over-year basis. As a group, sell-side 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.