Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Edwards Lifesciences Corporation (NYSE:EW – Free Report) by 4.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,165,301 shares of the medical research company’s stock after purchasing an additional 52,700 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Edwards Lifesciences were worth $90,625,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the business. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in shares of Edwards Lifesciences by 7.0% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 137,835 shares of the medical research company’s stock valued at $10,719,000 after buying an additional 9,069 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Edwards Lifesciences by 13.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,235 shares of the medical research company’s stock valued at $6,706,000 after acquiring an additional 10,078 shares during the last quarter. Arkadios Wealth Advisors acquired a new position in Edwards Lifesciences in the second quarter valued at $300,000. Atlantic Union Bankshares Corp grew its holdings in shares of Edwards Lifesciences by 2,240.9% during the third quarter. Atlantic Union Bankshares Corp now owns 11,892 shares of the medical research company’s stock worth $925,000 after purchasing an additional 11,384 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp increased its position in shares of Edwards Lifesciences by 97.3% during the second quarter. OMERS ADMINISTRATION Corp now owns 44,504 shares of the medical research company’s stock worth $3,481,000 after purchasing an additional 21,950 shares in the last quarter. Institutional investors and hedge funds own 79.46% of the company’s stock.
Edwards Lifesciences Stock Performance
Shares of EW opened at $86.47 on Friday. The stock has a market capitalization of $50.22 billion, a P/E ratio of 47.25, a P/E/G ratio of 2.24 and a beta of 0.94. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.29 and a current ratio of 4.00. Edwards Lifesciences Corporation has a 1 year low of $65.94 and a 1 year high of $87.89. The company’s fifty day moving average is $82.74 and its two-hundred day moving average is $81.22.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on EW. National Bank Financial set a $92.00 target price on Edwards Lifesciences in a research report on Friday, October 31st. Wells Fargo & Company boosted their price objective on Edwards Lifesciences from $96.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, February 11th. Piper Sandler restated an “overweight” rating and set a $100.00 target price (up from $98.00) on shares of Edwards Lifesciences in a research report on Wednesday, February 11th. JPMorgan Chase & Co. upgraded shares of Edwards Lifesciences from a “neutral” rating to an “overweight” rating and upped their price target for the company from $90.00 to $100.00 in a research report on Thursday, December 18th. Finally, Canaccord Genuity Group set a $87.00 price target on shares of Edwards Lifesciences and gave the stock a “hold” rating in a research note on Wednesday, December 17th. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $96.14.
Check Out Our Latest Stock Report on Edwards Lifesciences
Insiders Place Their Bets
In other news, CFO Scott B. Ullem sold 7,700 shares of the stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $84.47, for a total transaction of $650,419.00. Following the completion of the transaction, the chief financial officer directly owned 39,898 shares of the company’s stock, valued at approximately $3,370,184.06. This represents a 16.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Daniel J. Lippis sold 1,019 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $85.70, for a total value of $87,328.30. Following the completion of the sale, the vice president directly owned 22,002 shares of the company’s stock, valued at $1,885,571.40. This represents a 4.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 67,804 shares of company stock worth $5,711,242. Company insiders own 1.29% of the company’s stock.
Edwards Lifesciences Profile
Edwards Lifesciences is a medical technology company focused on products and therapies for structural heart disease and critical care monitoring. The company designs, develops and manufactures prosthetic heart valves and related delivery systems used in both surgical and minimally invasive (transcatheter) procedures. Its portfolio addresses a range of valvular conditions, with an emphasis on technologies that enable transcatheter aortic valve replacement (TAVR) as an alternative to open-heart surgery.
In addition to transcatheter heart valves—including the widely recognized SAPIEN family—Edwards offers surgical tissue valves and ancillary devices used by cardiac surgeons, interventional cardiologists and hospital teams.
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