Resona Asset Management Co. Ltd. Buys 9,174 Shares of Edwards Lifesciences Corporation $EW

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Edwards Lifesciences Corporation by 4.9% in Q1, now owning 194,713 shares worth approximately $14.07 million.
• Several hedge funds, including Nuveen LLC and Jennison Associates LLC, have significantly increased their holdings in Edwards Lifesciences, with institutional investors owning 79.46% of the company's stock.
• Edwards Lifesciences reported better than expected Q2 earnings with $1.53 billion in revenue and a $0.67 EPS, exceeding estimates and reflecting an 11.9% year-over-year revenue growth.

Resona Asset Management Co. Ltd. grew its position in shares of Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 4.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 194,713 shares of the medical research company's stock after buying an additional 9,174 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Edwards Lifesciences were worth $14,067,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Vega Investment Solutions acquired a new stake in Edwards Lifesciences during the fourth quarter worth $27,000. SouthState Corp acquired a new stake in shares of Edwards Lifesciences in the first quarter valued at $27,000. Global X Japan Co. Ltd. lifted its position in shares of Edwards Lifesciences by 116.1% during 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 in the last quarter. Tradewinds Capital Management LLC increased its holdings in shares of Edwards Lifesciences by 102.5% in the first 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. Finally, Rossby Financial LCC acquired a new position in Edwards Lifesciences during the 1st quarter worth $29,000. Institutional investors and hedge funds own 79.46% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on EW shares. JPMorgan Chase & Co. boosted their price objective on Edwards Lifesciences from $80.00 to $85.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. William Blair raised Edwards Lifesciences to a "strong-buy" rating in a research note on Friday, July 25th. Royal Bank Of Canada lifted their price objective on Edwards Lifesciences from $85.00 to $89.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Daiwa America raised Edwards Lifesciences from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 29th. Finally, Argus upgraded Edwards Lifesciences to a "strong-buy" rating in a report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $85.90.

Insider Activity

In other Edwards Lifesciences news, VP Daniel J. Lippis sold 4,114 shares of the firm's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $79.46, for a total value of $326,898.44. Following the sale, the vice president owned 22,002 shares of the company's stock, valued at approximately $1,748,278.92. This trade represents a 15.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Larry L. Wood sold 8,950 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $75.23, for a total value of $673,308.50. Following the completion of the sale, the insider directly owned 206,900 shares in the company, valued at $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 17,134 shares of company stock valued at $1,311,745 in the last 90 days. 0.34% of the stock is owned by corporate insiders.

Edwards Lifesciences Stock Performance

NYSE EW traded down $0.19 during trading on Monday, reaching $78.08. 2,151,273 shares of the company's stock were exchanged, compared to its average volume of 4,489,814. Edwards Lifesciences Corporation has a fifty-two week low of $64.00 and a fifty-two week high of $83.00. The stock has a market capitalization of $45.84 billion, a P/E ratio of 11.24, a PEG ratio of 3.78 and a beta of 1.08. The business has a 50 day moving average price of $77.13 and a 200-day moving average price of $74.42. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.68 and a quick ratio of 3.87.

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 for the quarter, beating the consensus estimate of $0.62 by $0.05. The firm had revenue of $1.53 billion for the quarter, compared to analysts' expectations of $1.49 billion. Edwards Lifesciences had a net margin of 72.96% and a return on equity of 15.01%. The business's revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 EPS. Sell-side analysts forecast that Edwards Lifesciences Corporation will post 2.45 earnings per share for the current fiscal year.

Edwards Lifesciences Company 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.