Kentucky Retirement Systems Insurance Trust Fund Purchases 13,142 Shares of Edwards Lifesciences Corporation (NYSE:EW)

Kentucky Retirement Systems Insurance Trust Fund lifted its position in shares of Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 339.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,016 shares of the medical research company's stock after acquiring an additional 13,142 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in Edwards Lifesciences were worth $1,233,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Crowley Wealth Management Inc. acquired a new position in Edwards Lifesciences in the 4th quarter valued at approximately $26,000. Vega Investment Solutions bought a new stake in shares of Edwards Lifesciences in the fourth quarter worth $27,000. Millstone Evans Group LLC acquired a new stake in Edwards Lifesciences in the fourth quarter valued at $29,000. Global X Japan Co. Ltd. increased its holdings in Edwards Lifesciences by 116.1% in the first quarter. Global X Japan Co. Ltd. now owns 402 shares of the medical research company's stock valued at $29,000 after purchasing an additional 216 shares during the period. Finally, ORG Wealth Partners LLC bought a new position in Edwards Lifesciences during the 1st quarter worth $38,000. Institutional investors own 79.46% of the company's stock.

Edwards Lifesciences Stock Up 1.5%

NYSE:EW traded up $1.10 on Wednesday, hitting $76.95. The stock had a trading volume of 3,724,554 shares, compared to its average volume of 5,248,934. 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 Corporation has a 52 week low of $58.93 and a 52 week high of $95.25. The business's fifty day moving average is $75.38 and its 200 day moving average is $73.08. The company has a market cap of $45.14 billion, a PE ratio of 10.99, a P/E/G ratio of 3.82 and a beta of 1.12.

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

Insider Activity

In other news, CEO Bernard J. Zovighian sold 5,980 shares of the firm'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 value of $447,961.80. Following the transaction, the chief executive officer now owns 58,284 shares in the company, valued at $4,366,054.44. This trade represents a 9.31% 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 hyperlink. Also, CFO Scott B. Ullem sold 11,250 shares of the stock in a transaction on Friday, May 9th. The shares were sold at an average price of $74.40, for a total value of $837,000.00. Following the completion of the sale, the chief financial officer now directly owns 41,098 shares of the company's stock, valued at $3,057,691.20. The trade was a 21.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,648 shares of company stock worth $2,998,866 over the last three months. 1.29% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

EW has been the topic of a number of analyst reports. Wall Street Zen lowered Edwards Lifesciences from a "buy" rating to a "hold" rating in a research report on Friday, May 16th. Dbs Bank raised Edwards Lifesciences to a "hold" rating in a research note on Monday, June 2nd. Piper Sandler upped their target price on Edwards Lifesciences from $80.00 to $83.00 and gave the company an "overweight" rating in a report on Tuesday, May 13th. Robert W. Baird increased their target price 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, Citigroup restated a "buy" rating and set a $95.00 price target (up previously from $84.00) on shares of Edwards Lifesciences in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Edwards Lifesciences presently has an average rating of "Hold" and an average target price of $80.20.

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.