Arizona State Retirement System Sells 1,053 Shares of Edwards Lifesciences Co. (NYSE:EW)

Arizona State Retirement System reduced its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 0.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 171,727 shares of the medical research company’s stock after selling 1,053 shares during the period. Arizona State Retirement System’s holdings in Edwards Lifesciences were worth $12,713,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in EW. Wellington Management Group LLP raised its position in Edwards Lifesciences by 86.3% in 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 purchasing an additional 14,610,123 shares during the period. State Street Corp raised its position in Edwards Lifesciences by 1.0% in 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 purchasing an additional 256,538 shares during the period. Geode Capital Management LLC raised its position in Edwards Lifesciences by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 13,521,147 shares of the medical research company’s stock worth $889,050,000 after purchasing an additional 284,918 shares during the period. Fisher Asset Management LLC raised its position in Edwards Lifesciences by 7.7% in the 4th quarter. Fisher Asset Management LLC now owns 9,775,276 shares of the medical research company’s stock worth $723,664,000 after purchasing an additional 696,965 shares during the period. Finally, Jennison Associates LLC purchased a new position in Edwards Lifesciences in the 4th quarter worth $555,939,000. 79.46% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Edwards Lifesciences news, CFO Scott B. Ullem sold 11,250 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $75.76, for a total transaction of $852,300.00. Following the completion of the transaction, the chief financial officer now owns 30,561 shares in the company, valued at $2,315,301.36. This trade represents a 26.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Daniel J. Lippis sold 500 shares of the stock in a transaction 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 transaction, the vice president now owns 23,189 shares of the company’s stock, valued at $1,594,475.64. This trade represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,739 shares of company stock worth $2,799,104. 1.29% of the stock is owned by insiders.

Edwards Lifesciences Stock Performance

Shares of NYSE EW opened at $71.79 on Friday. The firm has a fifty day moving average price of $72.36 and a 200-day moving average price of $70.36. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89. The stock has a market cap of $42.34 billion, a PE ratio of 10.30, a price-to-earnings-growth ratio of 4.82 and a beta of 1.10. Edwards Lifesciences Co. has a 1 year low of $58.93 and a 1 year high of $96.12.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Tuesday, February 11th. The medical research company reported $0.59 earnings per share (EPS) 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%. Equities analysts anticipate that Edwards Lifesciences Co. will post 2.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Canaccord Genuity Group lifted their target price on shares of Edwards Lifesciences from $68.00 to $71.00 and gave the stock a “hold” rating in a research report on Thursday, February 13th. Piper Sandler boosted 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. Morgan Stanley boosted their price objective on shares of Edwards Lifesciences from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 12th. Barclays boosted their price objective on shares of Edwards Lifesciences from $88.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $85.00 price objective on shares of Edwards Lifesciences in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Edwards Lifesciences presently has a consensus rating of “Hold” and an average price target 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.