Jennison Associates LLC Has $731.04 Million Holdings in Edwards Lifesciences Corporation (NYSE:EW)

Jennison Associates LLC grew its position in shares of Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 34.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,086,033 shares of the medical research company's stock after purchasing an additional 2,576,383 shares during the period. Jennison Associates LLC owned approximately 1.72% of Edwards Lifesciences worth $731,036,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Prosperity Consulting Group LLC raised its holdings in Edwards Lifesciences by 3.6% in the 4th quarter. Prosperity Consulting Group LLC now owns 3,906 shares of the medical research company's stock valued at $289,000 after acquiring an additional 134 shares during the last quarter. Arlington Trust Co LLC raised its holdings in 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 valued at $804,000 after acquiring an additional 135 shares during the last quarter. Valeo Financial Advisors LLC raised its holdings in Edwards Lifesciences by 2.8% in the 1st 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 raised its holdings in Edwards Lifesciences by 9.3% in the 1st quarter. Versant Capital Management Inc now owns 1,698 shares of the medical research company's stock valued at $123,000 after acquiring an additional 145 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings 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 acquiring an additional 145 shares during the last quarter. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Edwards Lifesciences Price Performance

Shares of Edwards Lifesciences stock traded up $0.26 on Friday, hitting $76.44. The company had a trading volume of 4,816,601 shares, compared to its average volume of 5,284,402. The business has a 50-day simple moving average of $76.50 and a 200-day simple moving average of $73.44. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.45 and a quick ratio of 3.66. The company has a market cap of $44.84 billion, a PE ratio of 10.92, a PEG ratio of 3.84 and a beta of 1.11. Edwards Lifesciences Corporation has a 52 week low of $58.93 and a 52 week high of $88.50.

Edwards Lifesciences (NYSE:EW - Get Free Report) last posted its quarterly earnings data 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. Edwards Lifesciences had a net margin of 75.48% and a return on equity of 16.62%. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter last year, the business posted $0.66 EPS. The company's revenue was up 6.2% on a year-over-year basis. Research analysts expect that Edwards Lifesciences Corporation will post 2.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on EW. Mizuho upped their price objective on Edwards Lifesciences from $85.00 to $87.00 and gave the stock an "outperform" rating in a report on Wednesday. Morgan Stanley upped their price objective on Edwards Lifesciences from $75.00 to $81.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Robert W. Baird upped their price target on shares of Edwards Lifesciences from $72.00 to $75.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. Dbs Bank raised shares of Edwards Lifesciences to a "hold" rating in a research report on Monday, June 2nd. 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 equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $81.00.

Insider Buying and Selling at Edwards Lifesciences

In related news, VP Daveen Chopra sold 1,500 shares of the firm's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $75.08, for a total value of $112,620.00. Following the transaction, the vice president directly owned 33,496 shares in the company, valued at approximately $2,514,879.68. This trade represents a 4.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Bernard J. Zovighian sold 5,980 shares of the firm'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 transaction, the chief executive officer owned 58,284 shares in the company, valued at $4,366,054.44. The trade was a 9.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,848 shares of company stock worth $2,314,488 in the last ninety days. Company insiders own 1.29% of the company's stock.

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.