Mirae Asset Global Investments Co. Ltd. Makes New Investment in Edwards Lifesciences Corporation $EW

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Edwards Lifesciences Corporation (NYSE:EW) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 343,152 shares of the medical research company’s stock, valued at approximately $29,621,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in EW. Flagship Harbor Advisors LLC lifted its position in Edwards Lifesciences by 1.2% during the third quarter. Flagship Harbor Advisors LLC now owns 10,615 shares of the medical research company’s stock worth $916,000 after buying an additional 125 shares during the period. Fifth Third Wealth Advisors LLC grew its holdings in Edwards Lifesciences by 1.8% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 7,268 shares of the medical research company’s stock valued at $627,000 after buying an additional 132 shares during the period. Signaturefd LLC grew its holdings in Edwards Lifesciences by 1.4% in the 3rd quarter. Signaturefd LLC now owns 10,034 shares of the medical research company’s stock valued at $866,000 after buying an additional 142 shares during the period. NorthRock Partners LLC increased its stake in shares of Edwards Lifesciences by 1.0% during the 2nd quarter. NorthRock Partners LLC now owns 16,191 shares of the medical research company’s stock valued at $1,465,000 after acquiring an additional 153 shares during the last quarter. Finally, Soltis Investment Advisors LLC increased its stake in shares of Edwards Lifesciences by 2.4% during the 3rd quarter. Soltis Investment Advisors LLC now owns 6,479 shares of the medical research company’s stock valued at $559,000 after acquiring an additional 153 shares during the last quarter. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Insider Transactions at Edwards Lifesciences

In related news, VP Daniel J. Lippis sold 619 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $92.03, for a total transaction of $56,966.57. Following the completion of the sale, the vice president owned 40,034 shares of the company’s stock, valued at approximately $3,684,329.02. This represents a 1.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Andrew M. Dahl sold 544 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $91.06, for a total transaction of $49,536.64. Following the completion of the transaction, the senior vice president owned 14,868 shares in the company, valued at $1,353,880.08. The trade was a 3.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 5,045 shares of company stock worth $451,596 in the last three months. 0.31% of the stock is currently owned by company insiders.

Key Headlines Impacting Edwards Lifesciences

Here are the key news stories impacting Edwards Lifesciences this week:

• Positive Sentiment: The PROGRESS trial found Edwards’ transcatheter aortic valve replacement (TAVR) was superior to clinical surveillance in moderate aortic stenosis patients with at-risk features, reducing the two-year composite of death or heart-failure events. The results support using TAVR earlier in the disease course and could expand the addressable patient population beyond severe aortic stenosis. PROGRESS Trial results
• Positive Sentiment: The CLASP II TR trial showed Edwards’ PASCAL system for tricuspid repair outperformed medical therapy alone on its six-month primary endpoint. The system also produced significant and sustained reductions in tricuspid regurgitation and improvements in patients’ quality of life through one year, strengthening the case for Edwards’ transcatheter tricuspid-repair franchise. CLASP II TR trial results
• Positive Sentiment: Bank of America analyst Travis Steed revisited Edwards following the PROGRESS data, highlighting the trial’s potential to support TAVR expansion in selected moderate aortic stenosis patients. Analyst attention reinforces the potential commercial significance of the results. Bank of America analyst coverage
• Neutral Sentiment: The longer-term stock impact will depend on regulatory decisions, guideline changes, reimbursement and physician adoption. The trial results are encouraging, but expanded indications would require additional execution before translating into revenue.

Analyst Ratings Changes

EW has been the topic of several recent analyst reports. Wall Street Zen lowered shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a report on Saturday. Rothschild & Co Redburn boosted their target price on shares of Edwards Lifesciences from $99.00 to $102.00 and gave the company a “buy” rating in a report on Monday, July 27th. Piper Sandler restated an “overweight” rating and issued a $101.00 target price (up from $100.00) on shares of Edwards Lifesciences in a report on Friday, July 24th. Jefferies Financial Group upped their price target on shares of Edwards Lifesciences from $102.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Finally, Truist Financial increased their price target on shares of Edwards Lifesciences from $90.00 to $95.00 and gave the stock a “hold” rating in a research note on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $101.16.

Edwards Lifesciences Price Performance

EW stock opened at $93.38 on Tuesday. The stock has a 50-day moving average price of $88.22 and a two-hundred day moving average price of $85.47. Edwards Lifesciences Corporation has a 12-month low of $74.66 and a 12-month high of $96.29. The company has a current ratio of 4.52, a quick ratio of 3.77 and a debt-to-equity ratio of 0.06. The company has a market cap of $53.77 billion, a PE ratio of 53.67, a price-to-earnings-growth ratio of 2.40 and a beta of 0.87.

Edwards Lifesciences Profile

Edwards Lifesciences Corporation (NYSE:EW) is a medical technology company focused on therapies for structural heart disease and critical care. The company develops and manufactures products designed to treat conditions affecting the heart’s valves, including aortic, mitral and tricuspid valve disorders.

Its portfolio includes transcatheter aortic valve replacement systems, transcatheter mitral and tricuspid therapies, surgical heart valves and valve-repair technologies. Edwards also provides related delivery systems and other medical devices used by physicians in minimally invasive and open-heart procedures.

Founded in 1958 by Miles Lowell Edwards, the company is headquartered in Irvine, California, and serves healthcare providers and patients internationally.