Ninety One SA PTY Ltd Grows Stake in Edwards Lifesciences Corporation (NYSE:EW)

Ninety One SA PTY Ltd lifted its position in shares of Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 173.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 144,984 shares of the medical research company's stock after acquiring an additional 91,888 shares during the quarter. Edwards Lifesciences makes up 1.9% of Ninety One SA PTY Ltd's investment portfolio, making the stock its 16th largest position. Ninety One SA PTY Ltd's holdings in Edwards Lifesciences were worth $10,459,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its holdings in shares of Edwards Lifesciences by 0.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 30,195 shares of the medical research company's stock valued at $2,170,000 after acquiring an additional 145 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in Edwards Lifesciences during the 4th quarter worth approximately $49,038,000. Dynamic Advisor Solutions LLC grew its position in Edwards Lifesciences by 2.4% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 15,506 shares of the medical research company's stock worth $1,124,000 after acquiring an additional 370 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Edwards Lifesciences by 13.5% during 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 acquiring an additional 9,188 shares in the last quarter. Finally, Simplify Asset Management Inc. bought a new position in Edwards Lifesciences in the 4th quarter worth $5,979,000. Institutional investors own 79.46% of the company's stock.

Edwards Lifesciences Price Performance

EW traded down $0.73 on Friday, hitting $78.07. 3,780,176 shares of the company's stock traded hands, compared to its average volume of 5,256,833. The company's 50 day simple moving average is $76.30 and its 200-day simple moving average is $73.38. The firm has a market cap of $45.79 billion, a price-to-earnings ratio of 11.15, a P/E/G ratio of 3.96 and a beta of 1.11. Edwards Lifesciences Corporation has a one year low of $58.93 and a one year high of $92.88. The company has a current ratio of 4.45, a quick ratio of 3.66 and a debt-to-equity ratio of 0.06.

Edwards Lifesciences (NYSE:EW - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.04. The company had revenue of $1.41 billion during 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 firm's revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.66 earnings per share. As a group, research analysts anticipate that Edwards Lifesciences Corporation will post 2.45 EPS for the current year.

Insiders Place Their Bets

In other news, insider Larry L. Wood sold 8,950 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $75.23, for a total value of $673,308.50. Following the sale, the insider directly owned 206,900 shares in the company, valued at approximately $15,565,087. This represents a 4.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Scott B. Ullem sold 11,250 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was 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 in the company, valued at approximately $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. Over the last three months, insiders sold 40,348 shares of company stock worth $2,977,683. 1.29% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Piper Sandler upped their price objective on shares of Edwards Lifesciences from $80.00 to $83.00 and gave the stock an "overweight" rating in a report on Tuesday, May 13th. Citigroup reiterated a "buy" rating and set a $95.00 price objective (up previously from $84.00) on shares of Edwards Lifesciences in a research note on Thursday, May 22nd. Dbs Bank upgraded Edwards Lifesciences to a "hold" rating in a research note on Monday, June 2nd. Evercore ISI boosted their price target on Edwards Lifesciences from $73.00 to $77.00 and gave the stock an "in-line" rating in a research note on Tuesday. Finally, Canaccord Genuity Group upped their price objective on Edwards Lifesciences from $71.00 to $75.00 and gave the company a "hold" rating in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, Edwards Lifesciences presently has an average rating of "Hold" and an average price target of $80.40.

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.