Ninety One North America Inc. Sells 26,289 Shares of Edwards Lifesciences Corporation (NYSE:EW)

Ninety One North America Inc. reduced its position in shares of Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 7.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 327,714 shares of the medical research company's stock after selling 26,289 shares during the period. Edwards Lifesciences comprises approximately 1.6% of Ninety One North America Inc.'s holdings, making the stock its 25th largest holding. Ninety One North America Inc. owned about 0.06% of Edwards Lifesciences worth $23,753,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Crowley Wealth Management Inc. acquired a new stake in Edwards Lifesciences in the 4th quarter valued at approximately $26,000. Vega Investment Solutions bought a new stake in shares of Edwards Lifesciences during the fourth quarter valued at about $27,000. Millstone Evans Group LLC bought a new position in Edwards Lifesciences in the 4th quarter valued at about $29,000. Global X Japan Co. Ltd. grew its position in Edwards Lifesciences by 116.1% in the 1st quarter. Global X Japan Co. Ltd. now owns 402 shares of the medical research company's stock valued at $29,000 after buying an additional 216 shares in the last quarter. Finally, Tradewinds Capital Management LLC boosted its stake in 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 in the last quarter. 79.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on EW. Dbs Bank upgraded Edwards Lifesciences to a "hold" rating in a research report on Monday, June 2nd. Evercore ISI boosted their price objective on Edwards Lifesciences from $73.00 to $77.00 and gave the stock an "in-line" rating in a report on Tuesday. Citigroup restated a "buy" rating and set a $95.00 price objective (up previously from $84.00) on shares of Edwards Lifesciences in a report on Thursday, May 22nd. Truist Financial reduced their price objective on Edwards Lifesciences from $78.00 to $75.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Finally, Robert W. Baird increased their price objective on Edwards Lifesciences from $72.00 to $75.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $80.40.

Insider Buying and Selling

In other news, VP Daveen Chopra sold 1,500 shares of the company'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 transaction, the vice president owned 33,496 shares of the company's stock, valued at approximately $2,514,879.68. This represents a 4.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Scott B. Ullem sold 11,250 shares of the company'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 transaction, the chief financial officer directly owned 41,098 shares in the company, valued at $3,057,691.20. The trade was a 21.49% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,348 shares of company stock valued at $2,977,683. Corporate insiders own 0.34% of the company's stock.

Edwards Lifesciences Trading Down 0.3%

NYSE EW traded down $0.25 on Tuesday, reaching $76.44. The company had a trading volume of 2,411,988 shares, compared to its average volume of 5,244,792. 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 stock has a market cap of $44.84 billion, a price-to-earnings ratio of 10.92, a PEG ratio of 3.85 and a beta of 1.11. The stock's 50 day moving average is $76.14 and its 200-day moving average is $73.29.

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

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.