Allspring Global Investments Holdings LLC Has $29.94 Million Stock Position in Edwards Lifesciences Co. (NYSE:EW)

Allspring Global Investments Holdings LLC decreased its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 2.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 324,072 shares of the medical research company’s stock after selling 6,639 shares during the period. Allspring Global Investments Holdings LLC owned 0.05% of Edwards Lifesciences worth $29,935,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. DSM Capital Partners LLC acquired a new position in Edwards Lifesciences during the 4th quarter valued at about $28,000. Crewe Advisors LLC acquired a new position in Edwards Lifesciences during the 1st quarter valued at about $28,000. First Community Trust NA acquired a new position in Edwards Lifesciences during the 2nd quarter valued at about $29,000. Riverview Trust Co acquired a new position in Edwards Lifesciences during the 1st quarter valued at about $34,000. Finally, Pingora Partners LLC acquired a new position in Edwards Lifesciences during the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 79.46% of the company’s stock.

Edwards Lifesciences Price Performance

Shares of EW opened at $69.63 on Wednesday. The stock has a market capitalization of $41.96 billion, a P/E ratio of 30.01, a P/E/G ratio of 2.57 and a beta of 1.11. Edwards Lifesciences Co. has a twelve month low of $58.93 and a twelve month high of $96.12. The company has a 50 day moving average of $78.68 and a 200-day moving average of $85.24. The company has a quick ratio of 2.87, a current ratio of 3.71 and a debt-to-equity ratio of 0.08.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.01. The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period last year, the business earned $0.66 EPS. As a group, equities research analysts forecast that Edwards Lifesciences Co. will post 2.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Daiwa Capital Markets upgraded shares of Edwards Lifesciences from a “neutral” rating to an “outperform” rating in a research report on Wednesday, July 31st. Piper Sandler lowered their price target on Edwards Lifesciences from $88.00 to $73.00 and set a “neutral” rating for the company in a research note on Thursday, July 25th. JPMorgan Chase & Co. cut Edwards Lifesciences from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $105.00 to $72.00 in a research note on Thursday, July 25th. The Goldman Sachs Group lowered their price target on Edwards Lifesciences from $107.00 to $91.00 and set a “buy” rating for the company in a research note on Friday, July 26th. Finally, Bank of America cut Edwards Lifesciences from a “buy” rating to a “neutral” rating and lowered their price target for the company from $105.00 to $75.00 in a research note on Thursday, July 25th. Fourteen investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $82.10.

Insider Activity

In other news, CEO Bernard J. Zovighian sold 8,617 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $87.68, for a total value of $755,538.56. Following the completion of the sale, the chief executive officer now owns 68,218 shares of the company’s stock, valued at approximately $5,981,354.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Edwards Lifesciences news, CEO Bernard J. Zovighian sold 8,617 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $87.68, for a total transaction of $755,538.56. Following the completion of the sale, the chief executive officer now owns 68,218 shares of the company’s stock, valued at approximately $5,981,354.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $87.54, for a total value of $437,700.00. Following the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $4,108,777.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,867 shares of company stock valued at $2,077,526. 1.29% of the stock is owned by insiders.

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.