AIA Group Ltd Increases Stake in Edwards Lifesciences Co. (NYSE:EW)

AIA Group Ltd increased its position in Edwards Lifesciences Co. (NYSE:EW) by 24.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 930,933 shares of the medical research company’s stock after acquiring an additional 181,409 shares during the quarter. Edwards Lifesciences comprises about 1.7% of AIA Group Ltd’s holdings, making the stock its 9th biggest holding. AIA Group Ltd’s holdings in Edwards Lifesciences were worth $68,917,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Crowley Wealth Management Inc. purchased a new stake in shares of Edwards Lifesciences during the 4th quarter valued at $26,000. Millstone Evans Group LLC purchased a new stake in Edwards Lifesciences during the fourth quarter valued at about $29,000. FSA Wealth Management LLC purchased a new position in shares of Edwards Lifesciences in the 3rd quarter worth about $30,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Edwards Lifesciences during the 4th quarter valued at about $30,000. Finally, Roble Belko & Company Inc bought a new stake in Edwards Lifesciences in the 4th quarter worth approximately $46,000. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Insider Buying and Selling at Edwards Lifesciences

In other Edwards Lifesciences news, VP Daniel J. Lippis sold 500 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $68.76, for a total transaction of $34,380.00. Following the completion of the sale, the vice president now directly owns 23,189 shares of the company’s stock, valued at approximately $1,594,475.64. This represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven R. Loranger sold 5,739 shares of Edwards Lifesciences stock in a transaction on Friday, February 14th. The stock was sold at an average price of $76.42, for a total transaction of $438,574.38. Following the transaction, the director now owns 60,372 shares in the company, valued at $4,613,628.24. This represents a 8.68 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,553 shares of company stock worth $4,513,064. Company insiders own 1.29% of the company’s stock.

Edwards Lifesciences Stock Down 0.4 %

NYSE:EW opened at $70.90 on Monday. 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 firm has a market cap of $41.68 billion, a P/E ratio of 10.17, a P/E/G ratio of 4.82 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 $95.73. The firm has a 50-day simple moving average of $71.49 and a two-hundred day simple moving average of $70.53.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on EW. Royal Bank of Canada restated an “outperform” rating and issued a $85.00 price objective on shares of Edwards Lifesciences in a report on Wednesday, February 12th. Truist Financial reaffirmed a “hold” rating and issued a $78.00 price target (up from $70.00) on shares of Edwards Lifesciences in a research note on Thursday, December 5th. Wolfe Research lowered Edwards Lifesciences from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 12th. Stifel Nicolaus upgraded shares of Edwards Lifesciences from a “hold” rating to a “buy” rating and upped their price target for the company from $75.00 to $90.00 in a report on Thursday, January 30th. Finally, The Goldman Sachs Group raised their price target on shares of Edwards Lifesciences from $81.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Edwards Lifesciences has a consensus rating of “Hold” and a consensus target price of $79.95.

Edwards Lifesciences 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.