Edwards Lifesciences Co. (NYSE:EW) Shares Acquired by Pegasus Asset Management Inc.

Pegasus Asset Management Inc. raised its holdings in Edwards Lifesciences Co. (NYSE:EW) by 0.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 42,628 shares of the medical research company’s stock after buying an additional 159 shares during the period. Pegasus Asset Management Inc.’s holdings in Edwards Lifesciences were worth $3,156,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in EW. Wellington Management Group LLP boosted its holdings in Edwards Lifesciences by 86.3% in the third quarter. Wellington Management Group LLP now owns 31,532,725 shares of the medical research company’s stock worth $2,080,845,000 after purchasing an additional 14,610,123 shares during the period. State Street Corp lifted its position in Edwards Lifesciences by 1.0% in the 3rd quarter. State Street Corp now owns 26,265,633 shares of the medical research company’s stock valued at $1,733,270,000 after purchasing an additional 256,538 shares during the last quarter. Geode Capital Management LLC increased its position in Edwards Lifesciences by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 13,521,147 shares of the medical research company’s stock valued at $889,050,000 after acquiring an additional 284,918 shares during the period. Fisher Asset Management LLC grew its position in Edwards Lifesciences by 9.8% in the 3rd quarter. Fisher Asset Management LLC now owns 9,078,311 shares of the medical research company’s stock valued at $599,078,000 after buying an additional 806,705 shares in the last quarter. Finally, Jennison Associates LLC bought a new stake in Edwards Lifesciences during the fourth quarter worth approximately $555,939,000. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on EW. Royal Bank of Canada reiterated an “outperform” rating and issued a $85.00 target price on shares of Edwards Lifesciences in a report on Wednesday, February 12th. Bank of America raised shares of Edwards Lifesciences from a “neutral” rating to a “buy” rating and boosted their target price for the company from $82.00 to $90.00 in a research note on Monday, December 16th. Piper Sandler lifted their price target on Edwards Lifesciences from $70.00 to $73.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Truist Financial reissued a “hold” rating and issued a $78.00 price objective (up from $70.00) on shares of Edwards Lifesciences in a research note on Thursday, December 5th. Finally, JPMorgan Chase & Co. lifted their target price on Edwards Lifesciences from $72.00 to $78.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $79.95.

Insider Activity

In other news, CFO Scott B. Ullem sold 11,250 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $75.76, for a total transaction of $852,300.00. Following the transaction, the chief financial officer now directly owns 30,561 shares in the company, valued at approximately $2,315,301.36. This represents a 26.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven R. Loranger sold 5,739 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $76.42, for a total transaction of $438,574.38. Following the completion of the sale, the director now directly owns 60,372 shares of the company’s stock, valued at approximately $4,613,628.24. This represents a 8.68 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,489 shares of company stock worth $2,002,829. Insiders own 1.27% of the company’s stock.

Edwards Lifesciences Price Performance

Edwards Lifesciences stock opened at $75.67 on Wednesday. The business has a 50 day simple moving average of $72.82 and a 200 day simple moving average of $69.79. Edwards Lifesciences Co. has a one year low of $58.93 and a one year high of $96.12. The company has a market capitalization of $44.63 billion, a PE ratio of 10.86, a price-to-earnings-growth ratio of 4.92 and a beta of 1.10. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89.

Edwards Lifesciences (NYSE:EW) last issued its earnings results on Tuesday, February 11th. The medical research company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.55 by $0.04. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. On average, sell-side analysts forecast that Edwards Lifesciences Co. will post 2.45 EPS for the current fiscal 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.