US Bancorp DE Has $33.44 Million Position in Edwards Lifesciences Corporation (NYSE:EW)

Key Points

• US Bancorp DE has reduced its holdings in Edwards Lifesciences Corporation by 28.8% in the first quarter, selling 186,577 shares, bringing their total ownership to approximately $33.44 million.
• Several large investors have also shifted their positions in Edwards Lifesciences, with Global X Japan Co. Ltd. and Tradewinds Capital Management LLC both significantly increasing their stakes.
• Analysts have upgraded their ratings for Edwards Lifesciences, with some setting a price target as high as $100.00, indicating a positive outlook for the company's stock performance.

US Bancorp DE lessened its holdings in Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 28.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 461,399 shares of the medical research company's stock after selling 186,577 shares during the quarter. US Bancorp DE owned approximately 0.08% of Edwards Lifesciences worth $33,442,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in EW. Vega Investment Solutions acquired a new position in shares of Edwards Lifesciences during the fourth quarter valued at $27,000. Global X Japan Co. Ltd. boosted its holdings 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 valued at $29,000 after acquiring an additional 216 shares during the period. Tradewinds Capital Management LLC boosted its holdings in shares of Edwards Lifesciences by 102.5% during the first quarter. Tradewinds Capital Management LLC now owns 405 shares of the medical research company's stock valued at $29,000 after acquiring an additional 205 shares during the period. Rossby Financial LCC acquired a new position in shares of Edwards Lifesciences during the first quarter valued at $29,000. Finally, ORG Wealth Partners LLC acquired a new position in shares of Edwards Lifesciences during the first quarter valued at $38,000. Institutional investors and hedge funds own 79.46% of the company's stock.

Edwards Lifesciences Trading Down 1.1%

EW traded down $0.88 during trading on Tuesday, reaching $79.21. The company had a trading volume of 4,047,114 shares, compared to its average volume of 5,089,273. 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 12-month low of $60.34 and a 12-month high of $83.00. The firm's 50-day simple moving average is $77.01 and its 200 day simple moving average is $73.92. The company has a market cap of $46.46 billion, a price-to-earnings ratio of 11.40, a PEG ratio of 3.88 and a beta of 1.08.

Edwards Lifesciences (NYSE:EW - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The medical research company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.62 by $0.05. The business had revenue of $1.53 billion during the quarter, compared to analysts' expectations of $1.49 billion. Edwards Lifesciences had a return on equity of 15.25% and a net margin of 72.96%. The firm's quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.70 EPS. Equities research analysts anticipate that Edwards Lifesciences Corporation will post 2.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on EW. Truist Financial boosted their price target on shares of Edwards Lifesciences from $81.00 to $82.00 and gave the company a "hold" rating in a report on Friday, July 25th. Wall Street Zen upgraded shares of Edwards Lifesciences from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Morgan Stanley lifted their price objective on shares of Edwards Lifesciences from $75.00 to $81.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Piper Sandler lifted their price objective on shares of Edwards Lifesciences from $83.00 to $90.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Finally, Dbs Bank upgraded shares of Edwards Lifesciences to a "hold" rating in a research note on Monday, June 2nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $85.71.

Insider Transactions at Edwards Lifesciences

In other news, CFO Scott B. Ullem sold 11,250 shares of the company's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $74.40, for a total transaction of $837,000.00. Following the completion of the transaction, the chief financial officer directly owned 41,098 shares in the company, valued at $3,057,691.20. The trade was a 21.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Donald E. Bobo, Jr. sold 2,570 shares of the company's 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 owned 50,356 shares of the company's stock, valued at $3,897,554.40. The trade was a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,982 shares of company stock worth $2,193,425. 0.34% of the stock is currently owned by company insiders.

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.