Fisher Asset Management LLC Boosts Stake in Edwards Lifesciences Co. (NYSE:EW)

Fisher Asset Management LLC boosted its position in Edwards Lifesciences Co. (NYSE:EW) by 9.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,078,311 shares of the medical research company’s stock after purchasing an additional 806,705 shares during the period. Fisher Asset Management LLC owned approximately 1.54% of Edwards Lifesciences worth $599,078,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Bank of New York Mellon Corp boosted its holdings in Edwards Lifesciences by 4.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 19,782,909 shares of the medical research company’s stock valued at $1,827,347,000 after acquiring an additional 809,605 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Edwards Lifesciences by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,659,102 shares of the medical research company’s stock worth $241,464,000 after purchasing an additional 53,181 shares during the period. AustralianSuper Pty Ltd lifted its position in shares of Edwards Lifesciences by 17.8% during the third quarter. AustralianSuper Pty Ltd now owns 3,273,416 shares of the medical research company’s stock worth $216,013,000 after purchasing an additional 494,604 shares during the last quarter. Champlain Investment Partners LLC boosted its stake in shares of Edwards Lifesciences by 4.5% during the third quarter. Champlain Investment Partners LLC now owns 3,080,703 shares of the medical research company’s stock valued at $203,296,000 after purchasing an additional 132,515 shares during the period. Finally, Ownership Capital B.V. grew its holdings in shares of Edwards Lifesciences by 1.2% in the third quarter. Ownership Capital B.V. now owns 2,993,019 shares of the medical research company’s stock worth $197,509,000 after purchasing an additional 34,597 shares during the last quarter. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on EW. Oppenheimer reissued an “outperform” rating and issued a $90.00 price objective on shares of Edwards Lifesciences in a research report on Thursday, September 12th. Piper Sandler lowered their target price on Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Sanford C. Bernstein raised shares of Edwards Lifesciences from a “strong sell” rating to a “hold” rating in a research report on Monday, October 28th. Evercore ISI lowered their price target on shares of Edwards Lifesciences from $76.00 to $70.00 and set an “in-line” rating for the company in a research report on Tuesday, October 1st. Finally, Daiwa America downgraded shares of Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Seventeen analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Edwards Lifesciences presently has a consensus rating of “Hold” and a consensus target price of $75.67.

Edwards Lifesciences Stock Performance

Shares of Edwards Lifesciences stock opened at $70.48 on Monday. Edwards Lifesciences Co. has a one year low of $58.93 and a one year high of $96.12. The company has a market cap of $41.57 billion, a price-to-earnings ratio of 10.17, a PEG ratio of 3.96 and a beta of 1.12. The business’s 50 day moving average price is $67.70 and its 200 day moving average price is $75.59. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46.

Edwards Lifesciences (NYSE:EW) last announced its earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.67. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the previous year, the company earned $0.59 earnings per share. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, research analysts predict that Edwards Lifesciences Co. will post 2.57 EPS for the current year.

Insider Activity at Edwards Lifesciences

In other news, insider Larry L. Wood sold 25,000 shares of Edwards Lifesciences stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $65.91, for a total transaction of $1,647,750.00. Following the completion of the sale, the insider now directly owns 198,526 shares of the company’s stock, valued at approximately $13,084,848.66. The trade was a 11.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $65.57, for a total transaction of $327,850.00. Following the transaction, the vice president now owns 46,936 shares of the company’s stock, valued at approximately $3,077,593.52. The trade was a 9.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,000 shares of company stock worth $2,657,000 in the last three months. 1.27% of the stock is owned by company insiders.

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.