ING Groep NV Purchases 137,081 Shares of Edwards Lifesciences Corporation (NYSE:EW)

Key Points

• ING Groep NV increased its stake in Edwards Lifesciences Corporation by 182.0% in Q1, acquiring an additional 137,081 shares to reach a total of 212,411 shares valued at approximately $15.40 million.
• Several hedge funds, including Liberty Wealth Management LLC and North Star Asset Management Inc., have also acquired shares, indicating strong institutional interest with 79.46% of the stock owned by institutional investors.
• Edwards Lifesciences exceeded analysts' earnings expectations with $0.67 earnings per share and revenue of $1.53 billion, up 11.9% year-over-year, alongside strong ratings and a price target increase from various analysts.

ING Groep NV lifted its holdings in Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 182.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 212,411 shares of the medical research company's stock after purchasing an additional 137,081 shares during the period. ING Groep NV's holdings in Edwards Lifesciences were worth $15,396,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Prosperity Consulting Group LLC increased its position in Edwards Lifesciences by 3.6% during the fourth quarter. Prosperity Consulting Group LLC now owns 3,906 shares of the medical research company's stock worth $289,000 after acquiring an additional 134 shares during the period. Arlington Trust Co LLC grew its holdings in shares of Edwards Lifesciences by 1.2% in the 1st quarter. Arlington Trust Co LLC now owns 11,092 shares of the medical research company's stock worth $804,000 after purchasing an additional 135 shares during the last quarter. Valeo Financial Advisors LLC raised its stake in shares of Edwards Lifesciences by 2.8% in the first quarter. Valeo Financial Advisors LLC now owns 5,136 shares of the medical research company's stock valued at $372,000 after acquiring an additional 142 shares during the last quarter. Versant Capital Management Inc increased its holdings in Edwards Lifesciences by 9.3% during the 1st quarter. Versant Capital Management Inc now owns 1,698 shares of the medical research company's stock valued at $123,000 after purchasing an additional 145 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in Edwards Lifesciences by 0.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 30,195 shares of the medical research company's stock valued at $2,170,000 after purchasing an additional 145 shares during the last quarter. 79.46% of the stock is currently owned by institutional investors.

Edwards Lifesciences Stock Performance

EW traded down $0.78 during midday trading on Thursday, reaching $77.83. The company had a trading volume of 3,238,496 shares, compared to its average volume of 5,237,431. Edwards Lifesciences Corporation has a 1 year low of $61.33 and a 1 year high of $83.00. The company has a quick ratio of 3.66, a current ratio of 4.45 and a debt-to-equity ratio of 0.06. The company has a market cap of $45.65 billion, a P/E ratio of 11.20, a P/E/G ratio of 3.81 and a beta of 1.08. The business has a 50-day moving average of $77.12 and a two-hundred day moving average of $74.05.

Edwards Lifesciences (NYSE:EW - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.05. Edwards Lifesciences had a return on equity of 15.25% and a net margin of 72.96%. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the business posted $0.70 EPS. Edwards Lifesciences's revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, equities research analysts predict that Edwards Lifesciences Corporation will post 2.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Piper Sandler increased their price objective on Edwards Lifesciences from $83.00 to $90.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Mizuho upped 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. William Blair raised Edwards Lifesciences to a "strong-buy" rating in a research note on Friday, July 25th. Argus raised Edwards Lifesciences to a "strong-buy" rating in a research note on Thursday, July 10th. Finally, Wells Fargo & Company upped their target price on shares of Edwards Lifesciences from $84.00 to $88.00 and gave the company an "overweight" rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $85.90.

Insider Transactions at Edwards Lifesciences

In related news, insider Larry L. Wood sold 8,950 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $75.23, for a total value of $673,308.50. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Daveen Chopra sold 1,500 shares of the stock in a transaction 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 directly owned 33,496 shares in the company, valued at approximately $2,514,879.68. This represents a 4.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,714 shares of company stock worth $2,173,304 in the last quarter. Company insiders own 1.29% of the company's stock.

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.