Primecap Management Co. CA Has $166.68 Million Stock Position in Edwards Lifesciences Corporation (NYSE:EW)

Key Points

• Primecap Management Co. CA increased its stake in Edwards Lifesciences Corporation by 12.5%, owning approximately 2.3 million shares valued at $166.68 million as of the latest SEC filing.
• The company's stock received several updates from analysts, including Barclays and Stifel Nicolaus, raising price targets to between $90.00 and $95.00, reflecting strong market expectations.
• Edwards Lifesciences reported a revenue of $1.53 billion for the last quarter, exceeding expectations, with earnings per share of $0.67, surpassing analyst estimates by $0.05.

Primecap Management Co. CA boosted its position in Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 12.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,299,600 shares of the medical research company's stock after buying an additional 256,100 shares during the quarter. Primecap Management Co. CA owned approximately 0.39% of Edwards Lifesciences worth $166,675,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC increased 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 during the period. Alyeska Investment Group L.P. bought a new stake in Edwards Lifesciences in the 4th quarter valued at $49,038,000. Dynamic Advisor Solutions LLC boosted its holdings in Edwards Lifesciences by 2.4% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 15,506 shares of the medical research company's stock valued at $1,124,000 after purchasing an additional 370 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Edwards Lifesciences by 13.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 77,016 shares of the medical research company's stock valued at $5,582,000 after purchasing an additional 9,188 shares during the period. Finally, Advanced Portfolio Management LLC bought a new stake in Edwards Lifesciences in the 4th quarter valued at $328,000. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Edwards Lifesciences

In related news, VP Daveen Chopra sold 1,500 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were 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 of the company's stock, valued at $2,514,879.68. The trade was a 4.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Larry L. Wood sold 8,950 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $75.23, for a total transaction of $673,308.50. Following the sale, the insider directly 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. Insiders sold a total of 28,714 shares of company stock valued at $2,173,304 over the last 90 days. Company insiders own 0.34% of the company's stock.

Analyst Upgrades and Downgrades

EW has been the subject of a number of research reports. Barclays increased their price target on shares of Edwards Lifesciences from $90.00 to $95.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Canaccord Genuity Group raised their price objective on shares of Edwards Lifesciences from $75.00 to $81.00 and gave the stock a "hold" rating in a report on Friday, July 25th. Stifel Nicolaus raised their price objective on shares of Edwards Lifesciences from $90.00 to $95.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Dbs Bank raised shares of Edwards Lifesciences to a "hold" rating in a report on Monday, June 2nd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Edwards Lifesciences from $80.00 to $85.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $85.71.

Edwards Lifesciences Trading Down 1.1%

Shares of NYSE EW opened at $79.21 on Wednesday. The company has a current ratio of 4.45, a quick ratio of 3.66 and a debt-to-equity ratio of 0.06. The company has a market cap of $46.46 billion, a PE ratio of 11.40, a P/E/G ratio of 3.88 and a beta of 1.08. The company has a 50-day moving average of $77.07 and a two-hundred day moving average of $73.96. Edwards Lifesciences Corporation has a 1-year low of $60.34 and a 1-year high of $83.00.

Edwards Lifesciences (NYSE:EW - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.49 billion. Edwards Lifesciences had a net margin of 72.96% and a return on equity of 15.25%. Edwards Lifesciences's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.70 earnings per share. As a group, equities analysts expect that Edwards Lifesciences Corporation will post 2.45 earnings per share for the current fiscal 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.

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