Sumitomo Mitsui Trust Group Inc. Has $98.38 Million Stock Holdings in Edwards Lifesciences Corporation (NYSE:EW)

Sumitomo Mitsui Trust Group Inc. lessened its position in shares of Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 0.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,357,399 shares of the medical research company's stock after selling 12,476 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.23% of Edwards Lifesciences worth $98,384,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of EW. Crowley Wealth Management Inc. purchased a new stake in shares of Edwards Lifesciences in the fourth quarter worth about $26,000. Vega Investment Solutions purchased a new stake in shares of Edwards Lifesciences in the fourth quarter worth about $27,000. Millstone Evans Group LLC purchased a new stake in shares of Edwards Lifesciences in the fourth quarter worth about $29,000. Global X Japan Co. Ltd. boosted its position in shares of 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 worth $29,000 after buying an additional 216 shares during the period. Finally, ORG Wealth Partners LLC purchased a new stake in shares of Edwards Lifesciences in the first quarter worth about $38,000. Hedge funds and other institutional investors own 79.46% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on EW. Wall Street Zen downgraded Edwards Lifesciences from a "buy" rating to a "hold" rating in a report on Friday, May 16th. Dbs Bank raised Edwards Lifesciences to a "hold" rating in a report on Monday, June 2nd. Truist Financial reduced their price target on Edwards Lifesciences from $78.00 to $75.00 and set a "hold" rating for the company in a report on Friday, April 11th. Citigroup reissued a "buy" rating and issued a $95.00 price target (up previously from $84.00) on shares of Edwards Lifesciences in a report on Thursday, May 22nd. Finally, Piper Sandler increased their price target on Edwards Lifesciences from $80.00 to $83.00 and gave the company an "overweight" rating in a report on Tuesday, May 13th. 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 company's stock. According to data from MarketBeat.com, Edwards Lifesciences has an average rating of "Hold" and a consensus price target of $80.20.

Edwards Lifesciences Price Performance

Shares of EW stock traded down $1.00 during mid-day trading on Tuesday, hitting $77.21. 3,124,860 shares of the stock traded hands, compared to its average volume of 5,233,531. Edwards Lifesciences Corporation has a twelve month low of $58.93 and a twelve month high of $95.25. The firm has a market cap of $45.29 billion, a price-to-earnings ratio of 11.03, a price-to-earnings-growth ratio of 3.94 and a beta of 1.11. The company's 50-day simple moving average is $75.80 and its 200-day simple moving average is $73.18. 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 (NYSE:EW - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.04. Edwards Lifesciences had a return on equity of 16.62% and a net margin of 75.48%. The company had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.40 billion. During the same period last year, the firm earned $0.66 EPS. The firm's revenue for the quarter was up 6.2% on a year-over-year basis. As a group, equities research analysts expect that Edwards Lifesciences Corporation will post 2.45 earnings per share for the current year.

Insiders Place Their Bets

In related news, VP Donald E. Bobo, Jr. sold 9,500 shares of Edwards Lifesciences stock in a transaction on Monday, April 14th. The stock was sold at an average price of $69.81, for a total value of $663,195.00. Following the transaction, the vice president directly owned 47,206 shares in the company, valued at $3,295,450.86. The trade was a 16.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Bernard J. Zovighian sold 5,980 shares of Edwards Lifesciences stock in a transaction on Monday, May 5th. The stock was sold at an average price of $74.91, for a total value of $447,961.80. Following the completion of the transaction, 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. Over the last ninety days, insiders sold 40,648 shares of company stock worth $2,998,866. Corporate insiders own 0.34% of the company's stock.

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.