Mitsubishi UFJ Asset Management Co. Ltd. Buys 95,750 Shares of Edwards Lifesciences Corporation (NYSE:EW)

Key Points

• Mitsubishi UFJ Asset Management increased its holdings in Edwards Lifesciences by 10.1%, acquiring an additional 95,750 shares, bringing its total ownership to over 1 million shares valued at approximately $75.9 million.
• Edwards Lifesciences reported $1.53 billion in revenue for the latest quarter, exceeding analyst expectations and reflecting an 11.9% year-over-year increase.
• Multiple analysts have upgraded Edwards Lifesciences stock ratings, with the average price target now set at $85.90, indicating a consensus rating of "Moderate Buy."

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 10.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,047,264 shares of the medical research company's stock after acquiring an additional 95,750 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.18% of Edwards Lifesciences worth $75,906,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. 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 purchasing an additional 145 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Edwards Lifesciences in the fourth quarter worth $49,038,000. 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 purchasing an additional 370 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings 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 valued at $5,582,000 after buying an additional 9,188 shares during the period. Finally, Advanced Portfolio Management LLC acquired a new stake in shares of Edwards Lifesciences in the fourth quarter valued at $328,000. 79.46% of the stock is owned by institutional investors and hedge funds.

Edwards Lifesciences Stock Down 0.2%

EW stock traded down $0.12 during mid-day trading on Monday, hitting $78.23. The stock had a trading volume of 2,884,745 shares, compared to its average volume of 5,139,299. The company has a current ratio of 4.68, a quick ratio of 3.87 and a debt-to-equity ratio of 0.06. Edwards Lifesciences Corporation has a 1-year low of $64.00 and a 1-year high of $83.00. The company has a fifty day moving average of $77.12 and a 200 day moving average of $74.18. The stock has a market capitalization of $45.93 billion, a price-to-earnings ratio of 30.49, a PEG ratio of 3.78 and a beta of 1.08.

Edwards Lifesciences (NYSE:EW - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The medical research company reported $0.67 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.05. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.49 billion. Edwards Lifesciences had a return on equity of 15.01% and a net margin of 72.96%. The firm's revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.70 EPS. On average, equities analysts expect that Edwards Lifesciences Corporation will post 2.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

EW has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price objective on Edwards Lifesciences from $80.00 to $85.00 and gave the company a "neutral" rating in a report on Friday, July 25th. BTIG Research upgraded Edwards Lifesciences from a "neutral" rating to a "buy" rating and set a $100.00 price objective for the company in a report on Tuesday, July 29th. Stifel Nicolaus upped their price objective on Edwards Lifesciences from $90.00 to $95.00 and gave the company a "buy" rating in a report on Friday, July 25th. Wall Street Zen upgraded Edwards Lifesciences from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, Mizuho upped their target price on Edwards Lifesciences from $87.00 to $95.00 and gave the company an "outperform" rating in a report on Friday, July 25th. 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, Edwards Lifesciences has a consensus rating of "Moderate Buy" and a consensus target price of $85.90.

Insider Transactions at Edwards Lifesciences

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 2,570 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $77.40, for a total value of $198,918.00. Following the completion of the sale, the vice president owned 50,356 shares in the company, valued at approximately $3,897,554.40. This trade represents a 4.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Daveen Chopra sold 1,500 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $75.08, for a total value of $112,620.00. Following the completion of the sale, the vice president owned 33,496 shares of the company's stock, valued at $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 a total of 17,134 shares of company stock worth $1,311,745 over the last 90 days. Insiders own 0.34% 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.