State of Alaska Department of Revenue Has $7.76 Million Holdings in Edwards Lifesciences Co. (NYSE:EW)

State of Alaska Department of Revenue cut its stake in Edwards Lifesciences Co. (NYSE:EW) by 5.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 81,241 shares of the medical research company’s stock after selling 5,000 shares during the period. State of Alaska Department of Revenue’s holdings in Edwards Lifesciences were worth $7,762,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Edwards Lifesciences by 0.4% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,609,866 shares of the medical research company’s stock valued at $153,839,000 after purchasing an additional 6,563 shares in the last quarter. Plimoth Trust Co. LLC increased its stake in shares of Edwards Lifesciences by 5.4% in the 1st quarter. Plimoth Trust Co. LLC now owns 3,834 shares of the medical research company’s stock valued at $366,000 after buying an additional 195 shares during the period. Buffington Mohr McNeal raised its position in shares of Edwards Lifesciences by 6.3% during the first quarter. Buffington Mohr McNeal now owns 6,700 shares of the medical research company’s stock worth $640,000 after acquiring an additional 400 shares during the last quarter. Cullinan Associates Inc. raised its position in shares of Edwards Lifesciences by 8.6% during the first quarter. Cullinan Associates Inc. now owns 13,911 shares of the medical research company’s stock worth $1,329,000 after acquiring an additional 1,100 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Edwards Lifesciences by 4.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 330,711 shares of the medical research company’s stock worth $31,603,000 after acquiring an additional 14,087 shares during the last quarter. 79.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Edwards Lifesciences

In related news, Director Michael A. Mussallem sold 29,350 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $92.42, for a total transaction of $2,712,527.00. Following the sale, the director now owns 4,486 shares of the company’s stock, valued at approximately $414,596.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Bernard J. Zovighian bought 580 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was acquired at an average cost of $85.74 per share, with a total value of $49,729.20. Following the transaction, the chief executive officer now directly owns 3,268 shares in the company, valued at $280,198.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael A. Mussallem sold 29,350 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $92.42, for a total value of $2,712,527.00. Following the transaction, the director now directly owns 4,486 shares of the company’s stock, valued at $414,596.12. The disclosure for this sale can be found here. Insiders have sold a total of 119,849 shares of company stock valued at $10,579,038 in the last 90 days. 1.27% of the stock is owned by corporate insiders.

Edwards Lifesciences Stock Performance

Shares of NYSE EW traded down $0.14 during trading hours on Wednesday, reaching $91.09. 1,497,118 shares of the stock were exchanged, compared to its average volume of 3,443,672. The firm has a market capitalization of $54.89 billion, a price-to-earnings ratio of 39.26, a P/E/G ratio of 3.38 and a beta of 1.11. Edwards Lifesciences Co. has a 52 week low of $60.57 and a 52 week high of $96.12. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.67 and a current ratio of 3.75. The stock’s fifty day simple moving average is $87.99 and its 200 day simple moving average is $85.56.

Edwards Lifesciences (NYSE:EW) last issued its earnings results on Thursday, April 25th. The medical research company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.58 billion. Edwards Lifesciences had a return on equity of 22.86% and a net margin of 23.01%. Sell-side analysts predict that Edwards Lifesciences Co. will post 2.77 EPS for the current year.

Analysts Set New Price Targets

EW has been the subject of a number of recent analyst reports. Barclays upped their price objective on Edwards Lifesciences from $100.00 to $101.00 and gave the company an “overweight” rating in a report on Tuesday, May 7th. Piper Sandler upped their price objective on Edwards Lifesciences from $85.00 to $88.00 and gave the company a “neutral” rating in a report on Friday, April 26th. Mizuho upped their price objective on Edwards Lifesciences from $95.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Stifel Nicolaus upped their price objective on Edwards Lifesciences from $83.00 to $85.00 and gave the company a “hold” rating in a report on Friday, April 26th. Finally, Evercore ISI upped their price objective on Edwards Lifesciences from $89.00 to $91.00 and gave the company an “in-line” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Edwards Lifesciences has a consensus rating of “Moderate Buy” and an average target price of $95.18.

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.