Edwards Lifesciences Corporation (NYSE:EW) Shares Sold by South Dakota Investment Council

South Dakota Investment Council cut its position in Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 2.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 231,969 shares of the medical research company's stock after selling 6,050 shares during the quarter. South Dakota Investment Council's holdings in Edwards Lifesciences were worth $16,813,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in EW. Crowley Wealth Management Inc. purchased a new position in shares of Edwards Lifesciences during the 4th quarter worth approximately $26,000. Vega Investment Solutions acquired a new stake in shares of Edwards Lifesciences during the fourth quarter worth $27,000. Rossby Financial LCC acquired a new stake in shares of Edwards Lifesciences during the first quarter worth $29,000. Millstone Evans Group LLC acquired a new stake in shares of Edwards Lifesciences during the fourth quarter worth $29,000. Finally, Global X Japan Co. Ltd. raised its position in shares of Edwards Lifesciences by 116.1% in the 1st quarter. Global X Japan Co. Ltd. now owns 402 shares of the medical research company's stock worth $29,000 after buying an additional 216 shares during the period. 79.46% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Edwards Lifesciences

In other news, CEO Bernard J. Zovighian sold 5,980 shares of the business's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $74.91, for a total transaction of $447,961.80. Following the completion of the sale, the chief executive officer directly owned 58,284 shares of the company's stock, valued at approximately $4,366,054.44. The trade was a 9.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Donald E. Bobo, Jr. sold 2,570 shares of Edwards Lifesciences stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $77.40, for a total value of $198,918.00. Following the completion of the sale, the vice president owned 50,356 shares of the company's stock, valued at $3,897,554.40. The trade was a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,848 shares of company stock valued at $2,314,488 in the last 90 days. Company insiders own 1.29% of the company's stock.

Edwards Lifesciences Trading Up 0.3%

Shares of Edwards Lifesciences stock traded up $0.26 during trading on Friday, reaching $76.44. The company's stock had a trading volume of 4,816,601 shares, compared to its average volume of 5,284,402. Edwards Lifesciences Corporation has a 52-week low of $58.93 and a 52-week high of $88.50. The company has a market cap of $44.84 billion, a price-to-earnings ratio of 10.92, a PEG ratio of 3.84 and a beta of 1.11. The firm's 50-day moving average is $76.50 and its two-hundred day moving average is $73.44. The company has a quick ratio of 3.66, a current ratio of 4.45 and a debt-to-equity ratio of 0.06.

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on EW. Citigroup restated a "buy" rating and issued a $95.00 target price (up from $84.00) on shares of Edwards Lifesciences in a research note on Thursday, May 22nd. Wall Street Zen downgraded Edwards Lifesciences from a "buy" rating to a "hold" rating in a research report on Friday, May 16th. Morgan Stanley boosted their price objective on Edwards Lifesciences from $75.00 to $81.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Piper Sandler boosted their target price on Edwards Lifesciences from $80.00 to $83.00 and gave the stock an "overweight" rating in a report on Tuesday, May 13th. Finally, Robert W. Baird boosted their target price on Edwards Lifesciences from $72.00 to $75.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $81.00.

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.