4,565,141 Shares in Edwards Lifesciences Corporation (NYSE:EW) Acquired by Nuveen LLC

Key Points

• Nuveen LLC has made a significant investment in Edwards Lifesciences Corporation, purchasing approximately 4.57 million shares valued at $330.88 million.
• Institutional investors now own 79.46% of Edwards Lifesciences stock, with notable investments from firms like Jennison Associates and Marshall Wace.
• Edwards Lifesciences reported better-than-expected earnings for the quarter, with EPS of $0.67 and revenue of $1.53 billion, exceeding analyst estimates.

Nuveen LLC acquired a new position in shares of Edwards Lifesciences Corporation (NYSE:EW - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,565,141 shares of the medical research company's stock, valued at approximately $330,881,000. Nuveen LLC owned approximately 0.78% of Edwards Lifesciences as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EW. Vega Investment Solutions purchased a new position in Edwards Lifesciences in the fourth quarter valued at approximately $27,000. Global X Japan Co. Ltd. increased its holdings in shares of Edwards Lifesciences by 116.1% in the first quarter. Global X Japan Co. Ltd. now owns 402 shares of the medical research company's stock worth $29,000 after purchasing an additional 216 shares during the period. Tradewinds Capital Management LLC grew its stake in shares of Edwards Lifesciences by 102.5% during the first quarter. Tradewinds Capital Management LLC now owns 405 shares of the medical research company's stock valued at $29,000 after buying an additional 205 shares during the last quarter. Rossby Financial LCC purchased a new position in shares of Edwards Lifesciences in the first quarter worth about $29,000. Finally, Costello Asset Management INC purchased a new position in shares of Edwards Lifesciences in the first quarter worth about $29,000. Hedge funds and other institutional investors own 79.46% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Piper Sandler raised their target price on Edwards Lifesciences from $83.00 to $90.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Stifel Nicolaus raised their price target on shares of Edwards Lifesciences from $90.00 to $95.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Evercore ISI lifted their target price on shares of Edwards Lifesciences from $77.00 to $80.00 and gave the stock an "in-line" rating in a research report on Friday, July 25th. Daiwa America raised shares of Edwards Lifesciences from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 29th. Finally, Argus raised shares of Edwards Lifesciences to a "strong-buy" rating in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $85.90.

Insider Activity

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 2,570 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $77.40, for a total transaction of $198,918.00. Following the completion of the sale, the vice president owned 50,356 shares in the company, valued at $3,897,554.40. The trade was a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Larry L. Wood sold 8,950 shares of the company's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $75.23, for a total transaction of $673,308.50. Following the transaction, the insider owned 206,900 shares of the company's stock, valued at $15,565,087. This represents a 4.15% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 17,134 shares of company stock valued at $1,311,745. 1.29% of the stock is currently owned by company insiders.

Edwards Lifesciences Price Performance

Shares of EW traded up $0.76 during trading hours on Wednesday, reaching $77.69. The company had a trading volume of 3,477,205 shares, compared to its average volume of 5,023,297. The company has a current ratio of 4.68, a quick ratio of 3.87 and a debt-to-equity ratio of 0.06. The firm has a 50 day simple moving average of $77.11 and a 200-day simple moving average of $74.26. Edwards Lifesciences Corporation has a 12-month low of $64.00 and a 12-month high of $83.00. The company has a market capitalization of $45.61 billion, a price-to-earnings ratio of 11.18, a PEG ratio of 3.71 and a beta of 1.08.

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

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.