Elo Mutual Pension Insurance Co Trims Stake in Edwards Lifesciences Co. (NYSE:EW)

Elo Mutual Pension Insurance Co lowered its position in Edwards Lifesciences Co. (NYSE:EW) by 4.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 60,596 shares of the medical research company’s stock after selling 3,096 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Edwards Lifesciences were worth $4,486,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. WINTON GROUP Ltd purchased a new stake in shares of Edwards Lifesciences in the 4th quarter valued at about $3,230,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Edwards Lifesciences by 6.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 951,514 shares of the medical research company’s stock worth $70,326,000 after purchasing an additional 58,352 shares during the last quarter. Korea Investment CORP raised its stake in Edwards Lifesciences by 46.5% in the fourth quarter. Korea Investment CORP now owns 470,650 shares of the medical research company’s stock valued at $34,842,000 after purchasing an additional 149,315 shares in the last quarter. Banco BTG Pactual S.A. purchased a new stake in Edwards Lifesciences in the fourth quarter valued at approximately $508,000. Finally, Baxter Bros Inc. lifted its position in Edwards Lifesciences by 3.0% during the fourth quarter. Baxter Bros Inc. now owns 87,824 shares of the medical research company’s stock valued at $6,502,000 after purchasing an additional 2,556 shares during the last quarter. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Stock Performance

Edwards Lifesciences stock opened at $71.17 on Friday. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. The firm has a market cap of $41.84 billion, a P/E ratio of 10.21, a P/E/G ratio of 4.82 and a beta of 1.12. Edwards Lifesciences Co. has a 1-year low of $58.93 and a 1-year high of $96.12. The firm has a 50-day moving average of $71.47 and a 200-day moving average of $70.46.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Tuesday, February 11th. The medical research company reported $0.59 earnings per share for the quarter, topping 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%. Sell-side analysts expect that Edwards Lifesciences Co. will post 2.45 EPS for the current year.

Wall Street Analysts Forecast Growth

EW has been the topic of several research reports. Piper Sandler raised their price objective on shares of Edwards Lifesciences from $70.00 to $73.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. The Goldman Sachs Group raised their price target on Edwards Lifesciences from $81.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Truist Financial reiterated a “hold” rating and issued a $78.00 price objective (up from $70.00) on shares of Edwards Lifesciences in a report on Thursday, December 5th. Barclays raised their price objective on Edwards Lifesciences from $88.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Finally, Stifel Nicolaus upgraded shares of Edwards Lifesciences from a “hold” rating to a “buy” rating and increased their price target for the company from $75.00 to $90.00 in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $79.95.

Insider Buying and Selling

In related news, CEO Bernard J. Zovighian sold 6,164 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $69.51, for a total value of $428,459.64. Following the completion of the transaction, the chief executive officer now directly owns 59,083 shares of the company’s stock, valued at $4,106,859.33. This represents a 9.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Steven R. Loranger sold 5,739 shares of Edwards Lifesciences stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $76.42, for a total value of $438,574.38. Following the sale, the director now directly owns 60,372 shares in the company, valued at approximately $4,613,628.24. The trade was a 8.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 62,553 shares of company stock valued at $4,513,064 over the last quarter. 1.29% of the stock is owned by company insiders.

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.