Destination Wealth Management Acquires 193 Shares of Edwards Lifesciences Co. (NYSE:EW)

Destination Wealth Management grew its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 2.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,012 shares of the medical research company’s stock after purchasing an additional 193 shares during the period. Destination Wealth Management’s holdings in Edwards Lifesciences were worth $463,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Wellington Management Group LLP boosted its position in shares of Edwards Lifesciences by 86.3% during the 3rd quarter. Wellington Management Group LLP now owns 31,532,725 shares of the medical research company’s stock worth $2,080,845,000 after acquiring an additional 14,610,123 shares in the last quarter. State Street Corp lifted its position in shares of Edwards Lifesciences by 1.0% during the 3rd quarter. State Street Corp now owns 26,265,633 shares of the medical research company’s stock worth $1,733,270,000 after buying an additional 256,538 shares during the last quarter. Bank of New York Mellon Corp grew its position in Edwards Lifesciences by 4.3% in the second 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 last quarter. Geode Capital Management LLC lifted its holdings in shares of Edwards Lifesciences by 2.2% in the third quarter. Geode Capital Management LLC now owns 13,521,147 shares of the medical research company’s stock worth $889,050,000 after acquiring an additional 284,918 shares during the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Edwards Lifesciences by 9.8% during the 3rd quarter. Fisher Asset Management LLC now owns 9,078,311 shares of the medical research company’s stock valued at $599,078,000 after purchasing an additional 806,705 shares during the last quarter. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Edwards Lifesciences Stock Up 0.2 %

Edwards Lifesciences stock opened at $73.97 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46. The stock has a market cap of $43.63 billion, a PE ratio of 10.67, a price-to-earnings-growth ratio of 3.63 and a beta of 1.12. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $96.12. The firm’s 50-day simple moving average is $69.26 and its 200 day simple moving average is $74.19.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data on Thursday, October 24th. The medical research company reported $0.67 EPS for the quarter, meeting the consensus estimate of $0.67. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the prior year, the business earned $0.59 earnings per share. Edwards Lifesciences’s revenue for the quarter was up 8.9% on a year-over-year basis. Research analysts predict that Edwards Lifesciences Co. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on EW. Jefferies Financial Group cut Edwards Lifesciences from a “buy” rating to a “hold” rating and reduced their price target for the stock from $85.00 to $70.00 in a report on Wednesday, September 18th. Sanford C. Bernstein upgraded shares of Edwards Lifesciences from a “strong sell” rating to a “hold” rating in a report on Monday, October 28th. JPMorgan Chase & Co. raised their target price on Edwards Lifesciences from $72.00 to $78.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Daiwa America lowered Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Piper Sandler decreased their target price on shares of Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Seventeen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $78.65.

Insider Activity at Edwards Lifesciences

In other news, insider Larry L. Wood sold 25,000 shares of the firm’s 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 sale, the insider now owns 198,526 shares in the company, valued at approximately $13,084,848.66. This trade represents a 11.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $69.51, for a total transaction of $347,550.00. Following the completion of the transaction, the vice president now owns 46,936 shares of the company’s stock, valued at $3,262,521.36. This trade represents a 9.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,000 shares of company stock worth $2,323,150. 1.29% of the stock is owned by corporate 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.