Principal Financial Group Inc. Buys 25,161 Shares of Edwards Lifesciences Corporation (NYSE:EW)

Principal Financial Group Inc. increased its stake in shares of Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 3.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 819,086 shares of the medical research company's stock after purchasing an additional 25,161 shares during the quarter. Principal Financial Group Inc. owned about 0.14% of Edwards Lifesciences worth $59,367,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Crowley Wealth Management Inc. bought a new stake in shares of Edwards Lifesciences during the fourth quarter valued at approximately $26,000. Vega Investment Solutions bought a new position in Edwards Lifesciences in the fourth quarter valued at approximately $27,000. Rossby Financial LCC bought a new position in Edwards Lifesciences in the first quarter valued at approximately $29,000. Millstone Evans Group LLC bought a new position in Edwards Lifesciences in the fourth quarter valued at approximately $29,000. Finally, Global X Japan Co. Ltd. boosted its stake in 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 valued at $29,000 after acquiring an additional 216 shares during the last quarter. 79.46% of the stock is owned by institutional investors.

Edwards Lifesciences Trading Down 0.3%

Shares of NYSE:EW opened at $76.77 on Friday. Edwards Lifesciences Corporation has a 12 month low of $58.93 and a 12 month high of $95.25. The company has a quick ratio of 3.66, a current ratio of 4.45 and a debt-to-equity ratio of 0.06. The company's fifty day simple moving average is $76.12 and its 200 day simple moving average is $73.28. The firm has a market cap of $45.03 billion, a price-to-earnings ratio of 10.97, a PEG ratio of 3.86 and a beta of 1.11.

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

Insider Transactions at Edwards Lifesciences

In other Edwards Lifesciences news, CFO Scott B. Ullem sold 11,250 shares of Edwards Lifesciences stock in a transaction 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 sale, the chief financial officer directly owned 41,098 shares in the company, valued at approximately $3,057,691.20. The trade was a 21.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Bernard J. Zovighian sold 5,980 shares of Edwards Lifesciences stock in a transaction on Monday, May 5th. The shares were sold at an average price of $74.91, for a total transaction of $447,961.80. Following the completion of the sale, the chief executive officer owned 58,284 shares in the company, valued at $4,366,054.44. The trade was a 9.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,648 shares of company stock worth $2,998,866. 1.29% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on EW. Dbs Bank raised shares of Edwards Lifesciences to a "hold" rating in a research note on Monday, June 2nd. Piper Sandler raised their price objective on shares of Edwards Lifesciences from $80.00 to $83.00 and gave the company an "overweight" rating in a research note on Tuesday, May 13th. Canaccord Genuity Group raised their price objective on shares of Edwards Lifesciences from $71.00 to $75.00 and gave the company a "hold" rating in a research note on Friday, April 25th. Citigroup reaffirmed a "buy" rating and issued a $95.00 price objective (up from $84.00) on shares of Edwards Lifesciences in a research note on Thursday, May 22nd. Finally, Robert W. Baird raised their price objective on shares of Edwards Lifesciences from $72.00 to $75.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Edwards Lifesciences has a consensus rating of "Hold" and a consensus target price of $80.20.

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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