Edwards Lifesciences Corporation (NYSE:EW) Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 11.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,260 shares of the medical research company's stock after buying an additional 7,213 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Edwards Lifesciences were worth $5,237,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Brighton Jones LLC purchased a new position in shares of Edwards Lifesciences during the fourth quarter valued at approximately $266,000. Bank Pictet & Cie Europe AG lifted its stake in shares of Edwards Lifesciences by 16.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 10,231 shares of the medical research company's stock worth $757,000 after acquiring an additional 1,463 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in Edwards Lifesciences during the 4th quarter valued at $220,000. SVB Wealth LLC purchased a new position in Edwards Lifesciences during the 4th quarter valued at $325,000. Finally, Smartleaf Asset Management LLC grew its position in Edwards Lifesciences by 16.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 5,789 shares of the medical research company's stock valued at $430,000 after acquiring an additional 797 shares during the last quarter. 79.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Truist Financial decreased their target price on Edwards Lifesciences from $78.00 to $75.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Canaccord Genuity Group lifted their price objective on shares of Edwards Lifesciences from $71.00 to $75.00 and gave the company a "hold" rating in a report on Friday, April 25th. Citigroup reissued a "buy" rating and issued a $95.00 price objective (up from $84.00) on shares of Edwards Lifesciences in a research report on Thursday, May 22nd. Piper Sandler upped 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. Finally, Wall Street Zen downgraded shares of Edwards Lifesciences from a "buy" rating to a "hold" rating in a research note on Friday, May 16th. One investment 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 data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $80.20.

Insider Activity

In related news, VP Daveen Chopra sold 1,500 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $75.08, for a total value of $112,620.00. Following the completion of the transaction, the vice president directly owned 33,496 shares of the company's stock, valued at $2,514,879.68. This trade represents a 4.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Bernard J. Zovighian sold 5,980 shares of Edwards Lifesciences stock in a transaction that occurred on Monday, May 5th. The stock was 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 of the company's stock, valued at $4,366,054.44. This trade represents a 9.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,648 shares of company stock worth $2,998,866 over the last quarter. Company insiders own 1.29% of the company's stock.

Edwards Lifesciences Stock Down 0.3%

Shares of NYSE EW traded down $0.25 during trading hours on Thursday, hitting $76.77. 1,679,364 shares of the stock were exchanged, compared to its average volume of 5,224,048. Edwards Lifesciences Corporation has a 12 month low of $58.93 and a 12 month high of $95.25. The firm has a fifty day moving average price of $76.07 and a 200-day moving average price of $73.24. 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 has a market cap of $45.03 billion, a PE ratio of 10.97, a PEG ratio of 3.89 and a beta of 1.11.

Edwards Lifesciences (NYSE:EW - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.04. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.40 billion. Edwards Lifesciences had a net margin of 75.48% and a return on equity of 16.62%. The business's revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.66 earnings per share. On average, sell-side analysts expect that Edwards Lifesciences Corporation will post 2.45 EPS 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.