Invesco Ltd. Raises Position in Edwards Lifesciences Corporation (NYSE:EW)

Key Points

• Invesco Ltd. increased its stake in Edwards Lifesciences Corporation by 2.6% during the first quarter, now owning approximately 0.73% of the company with shares valued at $310.77 million.
• Analysts have recently upgraded their ratings on Edwards Lifesciences, with William Blair giving it a "strong-buy" rating and Barclays raising its target price from $90 to $95.
• Edwards Lifesciences reported a quarterly earnings per share (EPS) of $0.67, exceeding expectations, with revenue reaching $1.53 billion, a growth of 11.9% year-over-year.

Invesco Ltd. grew its position in Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 2.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 4,287,712 shares of the medical research company's stock after buying an additional 107,241 shares during the period. Invesco Ltd. owned approximately 0.73% of Edwards Lifesciences worth $310,773,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of EW. Allspring Global Investments Holdings LLC grew its stake in shares of Edwards Lifesciences by 0.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 30,195 shares of the medical research company's stock worth $2,170,000 after acquiring an additional 145 shares during the period. Alyeska Investment Group L.P. bought a new stake in shares of Edwards Lifesciences in the fourth quarter worth approximately $49,038,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Edwards Lifesciences by 13.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 77,016 shares of the medical research company's stock worth $5,582,000 after acquiring an additional 9,188 shares during the period. Dynamic Advisor Solutions LLC grew its stake in shares of Edwards Lifesciences by 2.4% in the first quarter. Dynamic Advisor Solutions LLC now owns 15,506 shares of the medical research company's stock worth $1,124,000 after acquiring an additional 370 shares during the period. Finally, Advanced Portfolio Management LLC bought a new stake in shares of Edwards Lifesciences in the fourth quarter worth approximately $328,000. 79.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on EW shares. William Blair upgraded shares of Edwards Lifesciences to a "strong-buy" rating in a research note on Friday, July 25th. Barclays boosted their target price on shares of Edwards Lifesciences from $90.00 to $95.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Wall Street Zen upgraded shares of Edwards Lifesciences from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Morgan Stanley boosted 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, Dbs Bank upgraded shares of Edwards Lifesciences to a "hold" rating in a research report on Monday, June 2nd. One research 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 company. According to data from MarketBeat.com, Edwards Lifesciences has a consensus rating of "Moderate Buy" and a consensus price target of $85.90.

Edwards Lifesciences Price Performance

EW stock opened at $78.23 on Tuesday. Edwards Lifesciences Corporation has a one year low of $64.00 and a one year high of $83.00. The company's fifty day moving average price is $77.12 and its 200-day moving average price is $74.24. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.87 and a current ratio of 4.68. The company has a market capitalization of $45.93 billion, a PE ratio of 11.26, a price-to-earnings-growth ratio of 3.78 and a beta of 1.08.

Edwards Lifesciences (NYSE:EW - Get Free Report) last released its earnings results on Thursday, July 24th. The medical research company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.62 by $0.05. Edwards Lifesciences had a net margin of 72.96% and a return on equity of 15.01%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the firm earned $0.70 earnings per share. The company's quarterly revenue was up 11.9% compared to the same quarter last year. On average, equities analysts anticipate that Edwards Lifesciences Corporation will post 2.45 EPS for the current fiscal year.

Insider Activity at Edwards Lifesciences

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

About Edwards Lifesciences

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.

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