Capital Group Investment Management PTE. LTD. Sells 1,447 Shares of Edwards Lifesciences Co. (NYSE:EW)

Capital Group Investment Management PTE. LTD. reduced its stake in Edwards Lifesciences Co. (NYSE:EW) by 12.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,862 shares of the medical research company’s stock after selling 1,447 shares during the period. Capital Group Investment Management PTE. LTD.’s holdings in Edwards Lifesciences were worth $942,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Edwards Lifesciences by 1.1% during the first quarter. Vanguard Group Inc. now owns 52,964,394 shares of the medical research company’s stock worth $5,061,277,000 after buying an additional 600,994 shares during the last quarter. Bank of New York Mellon Corp lifted its position in 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 valued at $1,813,089,000 after acquiring an additional 1,644,869 shares in the last quarter. Brown Advisory Inc. boosted its stake in Edwards Lifesciences by 20.1% during the 4th quarter. Brown Advisory Inc. now owns 18,181,420 shares of the medical research company’s stock valued at $1,386,333,000 after purchasing an additional 3,048,274 shares during the last quarter. Wellington Management Group LLP increased its holdings in Edwards Lifesciences by 2.4% during the 4th quarter. Wellington Management Group LLP now owns 16,827,510 shares of the medical research company’s stock worth $1,283,098,000 after purchasing an additional 393,109 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Edwards Lifesciences in the fourth quarter valued at approximately $648,540,000. Institutional investors and hedge funds own 79.46% of the company’s stock.

Insider Activity

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $93.29, for a total value of $466,450.00. Following the sale, the vice president now owns 46,936 shares in the company, valued at $4,378,659.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $93.29, for a total value of $466,450.00. Following the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at $4,378,659.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Bernard J. Zovighian sold 8,617 shares of Edwards Lifesciences stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $87.68, for a total transaction of $755,538.56. Following the sale, the chief executive officer now owns 68,218 shares of the company’s stock, valued at $5,981,354.24. The disclosure for this sale can be found here. Insiders sold 81,099 shares of company stock worth $7,003,553 in the last three months. Corporate insiders own 1.29% of the company’s stock.

Edwards Lifesciences Stock Performance

Shares of NYSE:EW traded up $2.67 during midday trading on Friday, reaching $62.37. 14,079,854 shares of the company traded hands, compared to its average volume of 3,771,425. The firm’s fifty day moving average price is $88.51 and its two-hundred day moving average price is $86.93. The firm has a market capitalization of $37.58 billion, a price-to-earnings ratio of 27.14, a price-to-earnings-growth ratio of 3.18 and a beta of 1.11. The company has a quick ratio of 2.67, a current ratio of 3.75 and a debt-to-equity ratio of 0.08. Edwards Lifesciences Co. has a 12 month low of $58.93 and a 12 month high of $96.12.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Wednesday, July 24th. The medical research company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.65 billion. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.86%. Edwards Lifesciences’s revenue was up 6.7% compared to the same quarter last year. During the same period last year, the business earned $0.66 earnings per share. On average, equities analysts expect that Edwards Lifesciences Co. will post 2.77 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Truist Financial downgraded Edwards Lifesciences from a “buy” rating to a “hold” rating and decreased their price target for the stock from $110.00 to $82.00 in a report on Thursday. Oppenheimer reduced their target price on shares of Edwards Lifesciences from $100.00 to $90.00 and set an “outperform” rating for the company in a research note on Thursday. Stifel Nicolaus dropped their price target on shares of Edwards Lifesciences from $85.00 to $70.00 and set a “hold” rating on the stock in a research report on Thursday. Mizuho upped their price objective on shares of Edwards Lifesciences from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Finally, TD Cowen cut shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and dropped their target price for the stock from $100.00 to $70.00 in a research report on Thursday. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $82.10.

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.