KBC Group NV Decreases Holdings in Edwards Lifesciences Corporation (NYSE:EW)

KBC Group NV cut its holdings in shares of Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 26.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 478,713 shares of the medical research company's stock after selling 169,129 shares during the period. KBC Group NV owned 0.08% of Edwards Lifesciences worth $34,697,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Crowley Wealth Management Inc. purchased a new stake in Edwards Lifesciences in the fourth quarter valued at $26,000. Vega Investment Solutions acquired a new stake in Edwards Lifesciences in the 4th quarter valued at about $27,000. Millstone Evans Group LLC acquired a new stake in shares of Edwards Lifesciences during the 4th quarter worth approximately $29,000. Global X Japan Co. Ltd. boosted its position in shares of 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 purchasing an additional 216 shares during the period. Finally, ORG Wealth Partners LLC purchased a new position in shares of Edwards Lifesciences during the 1st quarter worth approximately $38,000. 79.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EW has been the subject of several recent research reports. Citigroup reissued a "buy" rating and issued a $95.00 price target (up previously from $84.00) on shares of Edwards Lifesciences in a research report on Thursday, May 22nd. Piper Sandler raised their price target on shares of Edwards Lifesciences from $80.00 to $83.00 and gave the company an "overweight" rating in a research report on Tuesday, May 13th. Canaccord Genuity Group raised their price target on shares of Edwards Lifesciences from $71.00 to $75.00 and gave the company a "hold" rating in a research report on Friday, April 25th. Robert W. Baird raised their price target on shares of Edwards Lifesciences from $72.00 to $75.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. Finally, Truist Financial decreased their price target on shares of Edwards Lifesciences from $78.00 to $75.00 and set a "hold" rating for the company in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $80.20.

Edwards Lifesciences Stock Performance

Shares of EW traded down $1.00 during midday trading on Tuesday, reaching $77.21. 3,124,860 shares of the stock were exchanged, compared to its average volume of 5,233,531. The business's 50-day moving average price is $75.80 and its 200 day moving average price is $73.18. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.45 and a quick ratio of 3.66. Edwards Lifesciences Corporation has a twelve month low of $58.93 and a twelve month high of $95.25. The company has a market capitalization of $45.29 billion, a price-to-earnings ratio of 11.03, a PEG ratio of 3.94 and a beta of 1.11.

Edwards Lifesciences (NYSE:EW - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The medical research company reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.60 by $0.04. The business had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.40 billion. Edwards Lifesciences had a return on equity of 16.62% and a net margin of 75.48%. The business's revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.66 earnings per share. On average, sell-side analysts expect that Edwards Lifesciences Corporation will post 2.45 EPS for the current fiscal year.

Insider Transactions at Edwards Lifesciences

In other Edwards Lifesciences news, CEO Bernard J. Zovighian sold 5,980 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $74.91, for a total transaction of $447,961.80. Following the transaction, the chief executive officer owned 58,284 shares in the company, valued at approximately $4,366,054.44. The trade was a 9.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Scott B. Ullem sold 11,250 shares of the business's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $74.40, for a total value of $837,000.00. Following the transaction, the chief financial officer owned 41,098 shares in the company, valued at $3,057,691.20. The trade was a 21.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 40,648 shares of company stock worth $2,998,866 over the last three months. 0.34% of the stock is currently owned by company insiders.

Edwards Lifesciences Company 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.