Mizuho Securities USA LLC Decreases Stock Holdings in Edwards Lifesciences Corporation (NYSE:EW)

Key Points

• Mizuho Securities USA LLC reduced its holdings in Edwards Lifesciences Corporation by 15.5%, resulting in ownership of 47,225 shares valued at approximately $3.42 million.
• Despite Mizuho's decrease, other hedge funds increased their positions, with 79.46% of the stock owned by institutional investors.
• Edwards Lifesciences reported earnings of $0.67 per share, exceeding estimates and showcasing a year-over-year revenue growth of 11.9%.

Mizuho Securities USA LLC trimmed its position in shares of Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 15.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,225 shares of the medical research company's stock after selling 8,675 shares during the period. Mizuho Securities USA LLC's holdings in Edwards Lifesciences were worth $3,423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Vega Investment Solutions bought a new position in shares of Edwards Lifesciences during the 4th quarter valued at approximately $27,000. Global X Japan Co. Ltd. increased its position in shares of Edwards Lifesciences by 116.1% during the 1st 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 last quarter. Tradewinds Capital Management LLC increased its position in shares of Edwards Lifesciences by 102.5% during the 1st quarter. Tradewinds Capital Management LLC now owns 405 shares of the medical research company's stock valued at $29,000 after purchasing an additional 205 shares during the last quarter. Rossby Financial LCC bought a new position in shares of Edwards Lifesciences during the 1st quarter valued at approximately $29,000. Finally, Costello Asset Management INC bought a new position in shares of Edwards Lifesciences during the 1st quarter valued at approximately $29,000. 79.46% of the stock is owned by hedge funds and other institutional investors.

Edwards Lifesciences Trading Up 0.6%

Shares of NYSE EW opened at $78.37 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.68 and a quick ratio of 3.87. The stock has a market capitalization of $46.01 billion, a P/E ratio of 11.28, a price-to-earnings-growth ratio of 3.78 and a beta of 1.08. Edwards Lifesciences Corporation has a 1-year low of $62.88 and a 1-year high of $83.00. The business has a fifty day moving average price of $77.12 and a 200 day moving average price of $74.18.

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

Insider Buying and Selling

In related news, VP Daveen Chopra sold 1,500 shares of the company's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $75.08, for a total transaction of $112,620.00. Following the completion of the sale, the vice president directly owned 33,496 shares in the company, valued at $2,514,879.68. This represents a 4.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Larry L. Wood sold 8,950 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $75.23, for a total value of $673,308.50. Following the completion of the sale, the insider owned 206,900 shares of the company's stock, valued at approximately $15,565,087. This trade represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,134 shares of company stock valued at $1,311,745. Company insiders own 0.34% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Dbs Bank raised Edwards Lifesciences to a "hold" rating in a research report on Monday, June 2nd. William Blair raised Edwards Lifesciences to a "strong-buy" rating in a research report on Friday, July 25th. Truist Financial upped their price objective on Edwards Lifesciences from $81.00 to $82.00 and gave the company a "hold" rating in a research report on Friday, July 25th. Piper Sandler upped their price objective on Edwards Lifesciences from $83.00 to $90.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Finally, BTIG Research raised Edwards Lifesciences from a "neutral" rating to a "buy" rating and set a $100.00 price objective on the stock in a research report on Tuesday, July 29th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $85.90.

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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