Edwards Lifesciences Co. (NYSE:EW) Stake Reduced by Mirova US LLC

Mirova US LLC cut its holdings in Edwards Lifesciences Co. (NYSE:EW) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,809,222 shares of the medical research company’s stock after selling 53,910 shares during the quarter. Edwards Lifesciences comprises about 1.6% of Mirova US LLC’s investment portfolio, making the stock its 25th biggest holding. Mirova US LLC’s holdings in Edwards Lifesciences were worth $133,937,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GSA Capital Partners LLP acquired a new stake in Edwards Lifesciences in the 3rd quarter worth approximately $481,000. Empowered Funds LLC increased its stake in shares of Edwards Lifesciences by 10.7% in the third quarter. Empowered Funds LLC now owns 24,032 shares of the medical research company’s stock valued at $1,586,000 after buying an additional 2,324 shares in the last quarter. Swiss National Bank increased its stake in shares of Edwards Lifesciences by 0.5% in the third quarter. Swiss National Bank now owns 1,788,600 shares of the medical research company’s stock valued at $118,030,000 after buying an additional 8,300 shares in the last quarter. Quest Partners LLC acquired a new stake in Edwards Lifesciences in the third quarter worth about $406,000. Finally, W.G. Shaheen & Associates DBA Whitney & Co bought a new position in Edwards Lifesciences during the third quarter worth about $7,290,000. 79.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on EW. Royal Bank of Canada reiterated an “outperform” rating and set a $85.00 price objective on shares of Edwards Lifesciences in a report on Wednesday, February 12th. Wolfe Research downgraded Edwards Lifesciences from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 12th. Canaccord Genuity Group upped their price objective on Edwards Lifesciences from $68.00 to $71.00 and gave the stock a “hold” rating in a research report on Thursday, February 13th. Truist Financial reaffirmed a “hold” rating and issued a $78.00 target price (up previously from $70.00) on shares of Edwards Lifesciences in a report on Thursday, December 5th. Finally, Piper Sandler increased their price target on Edwards Lifesciences from $70.00 to $73.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $79.95.

Edwards Lifesciences Stock Up 2.0 %

EW opened at $70.67 on Tuesday. The firm has a 50-day simple moving average of $71.68 and a two-hundred day simple moving average of $70.34. Edwards Lifesciences Co. has a 52 week low of $58.93 and a 52 week high of $96.12. The company has a market capitalization of $41.55 billion, a PE ratio of 10.14, a price-to-earnings-growth ratio of 4.82 and a beta of 1.12. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06.

Edwards Lifesciences (NYSE:EW) last announced its earnings results on Tuesday, February 11th. The medical research company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.04. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. Analysts forecast that Edwards Lifesciences Co. will post 2.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Steven R. Loranger sold 5,739 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $76.42, for a total transaction of $438,574.38. Following the sale, the director now directly owns 60,372 shares of the company’s stock, valued at $4,613,628.24. This represents a 8.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Bernard J. Zovighian sold 6,164 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $69.51, for a total transaction of $428,459.64. Following the transaction, the chief executive officer now owns 59,083 shares of the company’s stock, valued at approximately $4,106,859.33. This trade represents a 9.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,303 shares of company stock valued at $3,715,776 over the last 90 days. Corporate insiders own 1.29% of the company’s stock.

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.