M&G Plc Acquires Shares of 8,884 Edwards Lifesciences Co. (NYSE:EW)

M&G Plc acquired a new stake in shares of Edwards Lifesciences Co. (NYSE:EW) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 8,884 shares of the medical research company’s stock, valued at approximately $853,000.

Other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Edwards Lifesciences in the 4th quarter worth about $648,540,000. Brown Advisory Inc. lifted its holdings in shares of Edwards Lifesciences by 20.1% in the 4th quarter. Brown Advisory Inc. now owns 18,181,420 shares of the medical research company’s stock worth $1,386,333,000 after acquiring an additional 3,048,274 shares during the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of Edwards Lifesciences by 197.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 3,446,758 shares of the medical research company’s stock worth $262,815,000 after acquiring an additional 2,286,119 shares during the last quarter. AustralianSuper Pty Ltd bought a new stake in shares of Edwards Lifesciences in the 4th quarter worth about $168,519,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Edwards Lifesciences by 9.5% in the 1st quarter. Bank of New York Mellon Corp now owns 18,973,304 shares of the medical research company’s stock worth $1,813,089,000 after acquiring an additional 1,644,869 shares during the last quarter. Institutional investors own 79.46% of the company’s stock.

Wall Street Analyst Weigh In

EW has been the topic of several recent analyst reports. StockNews.com raised shares of Edwards Lifesciences from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th. Truist Financial boosted their price objective on shares of Edwards Lifesciences from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. The Goldman Sachs Group assumed coverage on shares of Edwards Lifesciences in a research report on Thursday, May 30th. They issued a “buy” rating and a $107.00 price objective for the company. Barclays boosted their price objective on shares of Edwards Lifesciences from $100.00 to $101.00 and gave the company an “overweight” rating in a research report on Tuesday, May 7th. Finally, Royal Bank of Canada boosted their price objective on shares of Edwards Lifesciences from $95.00 to $101.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Edwards Lifesciences has a consensus rating of “Moderate Buy” and a consensus target price of $96.13.

Edwards Lifesciences Stock Performance

NYSE:EW traded up $0.69 during trading hours on Friday, hitting $86.50. 2,433,949 shares of the company were exchanged, compared to its average volume of 3,261,662. The stock has a market capitalization of $52.12 billion, a price-to-earnings ratio of 37.28, a PEG ratio of 3.17 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 current ratio of 3.75 and a quick ratio of 2.67. The company’s 50 day moving average price is $89.11 and its 200-day moving average price is $86.82.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Thursday, April 25th. The medical research company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.64 by $0.02. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.58 billion. Edwards Lifesciences had a net margin of 23.01% and a return on equity of 22.86%. As a group, research analysts forecast that Edwards Lifesciences Co. will post 2.77 earnings per share for the current year.

Insider Activity

In related news, Director Michael A. Mussallem sold 29,350 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $84.77, for a total transaction of $2,487,999.50. Following the sale, the director now directly owns 4,486 shares of the company’s stock, valued at $380,278.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Edwards Lifesciences news, CFO Scott B. Ullem sold 7,250 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $85.80, for a total transaction of $622,050.00. Following the completion of the transaction, the chief financial officer now directly owns 19,074 shares in the company, valued at $1,636,549.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael A. Mussallem sold 29,350 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $84.77, for a total transaction of $2,487,999.50. Following the transaction, the director now owns 4,486 shares of the company’s stock, valued at $380,278.22. The disclosure for this sale can be found here. Insiders have sold 81,099 shares of company stock valued at $7,003,553 in the last ninety days. Insiders own 1.29% of the company’s stock.

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.