Edwards Lifesciences Corporation $EW Stake Lessened by Gulf International Bank UK Ltd

Key Points

• Gulf International Bank UK Ltd reduced its stake in Edwards Lifesciences by 27.7%, owning 34,293 shares valued at approximately $2.48 million after selling 13,130 shares.
• Insiders sold a total of 17,134 shares valued at $1.31 million over the last ninety days, resulting in a 1.29% ownership by insiders.
• Edwards Lifesciences reported $0.67 earnings per share for the last quarter, exceeding expectations, with revenues of $1.53 billion, up 11.9% compared to the previous year.

Gulf International Bank UK Ltd lowered its holdings in Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 27.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 34,293 shares of the medical research company's stock after selling 13,130 shares during the quarter. Gulf International Bank UK Ltd's holdings in Edwards Lifesciences were worth $2,485,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Jennison Associates LLC raised its holdings in shares of Edwards Lifesciences by 34.3% in 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 buying an additional 2,576,383 shares during the last quarter. Brown Advisory Inc. raised its holdings in shares of 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 valued at $603,741,000 after buying an additional 575,699 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of Edwards Lifesciences by 10.4% in the fourth 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 during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Edwards Lifesciences by 8.5% in the fourth 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 during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Edwards Lifesciences by 21.8% during the fourth quarter. Northern Trust Corp now owns 6,505,227 shares of the medical research company's stock worth $481,582,000 after acquiring an additional 1,165,845 shares during the period. Hedge funds and other institutional investors own 79.46% of the company's stock.

Insider Activity at Edwards Lifesciences

In related news, insider Larry L. Wood sold 8,950 shares of the 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 sale, the insider owned 206,900 shares in the company, valued at $15,565,087. This represents a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 2,570 shares of the stock in a transaction dated Monday, June 2nd. The stock was 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 in the company, valued at approximately $3,897,554.40. This trade represents a 4.86% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,134 shares of company stock worth $1,311,745. Company insiders own 0.34% of the company's stock.

Edwards Lifesciences Trading Up 0.0%

Shares of NYSE EW traded up $0.04 during trading on Monday, hitting $78.30. 4,287,486 shares of the company traded hands, compared to its average volume of 4,494,473. Edwards Lifesciences Corporation has a 1 year low of $64.00 and a 1 year high of $83.00. The company has a 50-day moving average price of $77.13 and a 200-day moving average price of $74.42. The firm has a market capitalization of $45.97 billion, a P/E ratio of 11.27, a P/E/G ratio of 3.78 and a beta of 1.08. The company has a quick ratio of 3.87, a current ratio of 4.68 and a debt-to-equity ratio of 0.06.

Edwards Lifesciences (NYSE:EW - Get Free Report) last posted its earnings results on Thursday, July 24th. The medical research company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.05. The business had revenue of $1.53 billion for 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 business's quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.70 EPS. On average, equities analysts predict that Edwards Lifesciences Corporation will post 2.45 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Robert W. Baird increased their price target 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. Piper Sandler increased their price target on shares of Edwards Lifesciences from $83.00 to $90.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Citigroup reissued a "buy" rating and set a $95.00 price target (up from $84.00) on shares of Edwards Lifesciences in a report on Thursday, May 22nd. The Goldman Sachs Group reissued a "buy" rating on shares of Edwards Lifesciences in a report on Friday, July 25th. Finally, Argus raised shares of Edwards Lifesciences to a "strong-buy" rating in a report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average 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.