Saturna Capital Corp Lowers Position in Edwards Lifesciences Corporation (NYSE:EW)

Saturna Capital Corp decreased its stake in shares of Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 44.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,410 shares of the medical research company's stock after selling 10,830 shares during the quarter. Saturna Capital Corp's holdings in Edwards Lifesciences were worth $972,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew its position 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 worth $2,170,000 after buying an additional 145 shares during the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of Edwards Lifesciences in the 4th quarter valued at $49,038,000. Dynamic Advisor Solutions LLC boosted its holdings in shares of 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 acquiring an additional 370 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of 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, Simplify Asset Management Inc. acquired a new position in shares of Edwards Lifesciences in the 4th quarter valued at $5,979,000. Institutional investors own 79.46% of the company's stock.

Insider Activity at Edwards Lifesciences

In other news, insider Larry L. Wood sold 8,950 shares of the firm'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 value of $673,308.50. Following the completion of the sale, the insider directly owned 206,900 shares of the company's stock, valued at $15,565,087. This trade represents a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Donald E. Bobo, Jr. sold 2,570 shares of Edwards Lifesciences stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $77.40, for a total value of $198,918.00. Following the completion of the transaction, the vice president directly owned 50,356 shares of the company's stock, valued at $3,897,554.40. This represents a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,848 shares of company stock valued at $2,314,488 over the last quarter. 1.29% of the stock is currently owned by corporate insiders.

Edwards Lifesciences Stock Up 0.3%

Shares of Edwards Lifesciences stock traded up $0.26 during trading on Friday, hitting $76.44. 4,816,601 shares of the stock traded hands, compared to its average volume of 5,284,402. The stock has a market cap of $44.84 billion, a P/E ratio of 10.92, a PEG ratio of 3.84 and a beta of 1.11. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.66 and a current ratio of 4.45. Edwards Lifesciences Corporation has a twelve month low of $58.93 and a twelve month high of $88.50. The company has a fifty day moving average price of $76.50 and a two-hundred day moving average price of $73.44.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Dbs Bank raised shares of Edwards Lifesciences to a "hold" rating in a report on Monday, June 2nd. Piper Sandler increased their target price on shares of Edwards Lifesciences from $80.00 to $83.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 13th. Mizuho increased their target price on shares of Edwards Lifesciences from $85.00 to $87.00 and gave the stock an "outperform" rating in a research note on Wednesday. Wall Street Zen cut shares of Edwards Lifesciences from a "buy" rating to a "hold" rating in a research report on Friday, May 16th. Finally, Argus raised shares of Edwards Lifesciences to a "strong-buy" rating in a research report on Thursday, July 10th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Edwards Lifesciences has an average rating of "Hold" and a consensus target price of $81.00.

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.