Mediolanum International Funds Ltd Has $3.42 Million Stock Position in Edwards Lifesciences Corporation (NYSE:EW)

Key Points

• Mediolanum International Funds Ltd has reduced its stake in Edwards Lifesciences Corporation by 11.3%, now holding 48,226 shares valued at approximately $3.42 million.
• Edwards Lifesciences reported a quarterly earnings per share of $0.67, exceeding analysts' expectations of $0.62, with revenues reaching $1.53 billion, up 11.9% year-over-year.
• Several institutional investors have adjusted positions in Edwards Lifesciences, with most hedge funds owning about 79.46% of the company's stock.

Mediolanum International Funds Ltd decreased its position in shares of Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 11.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,226 shares of the medical research company's stock after selling 6,114 shares during the period. Mediolanum International Funds Ltd's holdings in Edwards Lifesciences were worth $3,420,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of EW. Brighton Jones LLC acquired a new position in Edwards Lifesciences in the fourth quarter valued at $266,000. Bank Pictet & Cie Europe AG grew its stake in Edwards Lifesciences by 16.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 10,231 shares of the medical research company's stock worth $757,000 after buying an additional 1,463 shares during the last quarter. LPL Financial LLC increased its position in Edwards Lifesciences by 8.8% in the fourth quarter. LPL Financial LLC now owns 261,680 shares of the medical research company's stock worth $19,372,000 after buying an additional 21,219 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in Edwards Lifesciences by 7.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 216,517 shares of the medical research company's stock valued at $16,029,000 after acquiring an additional 15,014 shares in the last quarter. Finally, Pictet Asset Management Holding SA increased its position in shares of Edwards Lifesciences by 7.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 375,745 shares of the medical research company's stock valued at $27,816,000 after purchasing an additional 26,573 shares during the period. Institutional investors and hedge funds own 79.46% of the company's stock.

Edwards Lifesciences Stock Down 1.7%

Shares of NYSE:EW traded down $1.40 during midday trading on Thursday, reaching $79.76. The company had a trading volume of 1,718,741 shares, compared to its average volume of 4,575,327. 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 business's 50 day moving average price is $76.73 and its 200 day moving average price is $73.69. The stock has a market cap of $46.79 billion, a PE ratio of 11.49, a P/E/G ratio of 3.90 and a beta of 1.11. Edwards Lifesciences Corporation has a 1-year low of $59.41 and a 1-year high of $83.00.

Edwards Lifesciences (NYSE:EW - Get Free Report) last released its earnings results on Thursday, July 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the business earned $0.70 earnings per share. Edwards Lifesciences's quarterly revenue was up 11.9% on a year-over-year basis. Research analysts forecast that Edwards Lifesciences Corporation will post 2.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. BTIG Research upgraded Edwards Lifesciences from a "neutral" rating to a "buy" rating and set a $100.00 target price on the stock in a report on Tuesday. The Goldman Sachs Group reissued a "buy" rating on shares of Edwards Lifesciences in a research report on Friday, July 25th. Wells Fargo & Company upped their price target on Edwards Lifesciences from $80.00 to $84.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Truist Financial increased their target price on Edwards Lifesciences from $81.00 to $82.00 and gave the stock a "hold" rating in a report on Friday, July 25th. Finally, Mizuho increased their price target on Edwards Lifesciences from $87.00 to $95.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $85.71.

Insider Buying and Selling at Edwards Lifesciences

In other news, insider Larry L. Wood sold 8,950 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $75.23, for a total transaction of $673,308.50. Following the completion of the sale, the insider owned 206,900 shares in the company, valued at $15,565,087. The trade was a 4.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Scott B. Ullem sold 11,250 shares of the business's stock in a transaction that occurred 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 owned 41,098 shares of the company's stock, valued at approximately $3,057,691.20. This trade represents a 21.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,962 shares of company stock valued at $2,641,387 in the last three months. Corporate 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.