Edwards Lifesciences Co. (NYSE:EW) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC lessened its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 0.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 139,624 shares of the medical research company’s stock after selling 255 shares during the period. HighTower Advisors LLC’s holdings in Edwards Lifesciences were worth $10,336,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of EW. Wellington Management Group LLP grew its stake in 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 valued at $2,080,845,000 after acquiring an additional 14,610,123 shares in the last quarter. Jennison Associates LLC purchased a new stake in Edwards Lifesciences during the 4th quarter valued at about $555,939,000. Assenagon Asset Management S.A. grew its stake in Edwards Lifesciences by 475.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 4,243,976 shares of the medical research company’s stock valued at $314,182,000 after acquiring an additional 3,506,886 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Edwards Lifesciences during the 4th quarter valued at about $213,844,000. Finally, Jacobs Levy Equity Management Inc. grew its stake in Edwards Lifesciences by 239.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 3,693,663 shares of the medical research company’s stock valued at $243,745,000 after acquiring an additional 2,606,950 shares in the last quarter. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Price Performance

Edwards Lifesciences stock opened at $69.37 on Monday. The firm has a market cap of $40.78 billion, a PE ratio of 9.95, a price-to-earnings-growth ratio of 4.82 and a beta of 1.12. Edwards Lifesciences Co. has a 52-week low of $58.93 and a 52-week high of $96.12. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06. The company’s 50 day moving average is $71.74 and its two-hundred day moving average is $70.34.

Edwards Lifesciences (NYSE:EW) last released its earnings results 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%. On average, research analysts expect that Edwards Lifesciences Co. will post 2.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

EW has been the subject of several research reports. Piper Sandler upped their price objective on shares of Edwards Lifesciences from $70.00 to $73.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Canaccord Genuity Group increased their price target on shares of Edwards Lifesciences from $68.00 to $71.00 and gave the company a “hold” rating in a research note on Thursday, February 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $85.00 price target on shares of Edwards Lifesciences in a research note on Wednesday, February 12th. Truist Financial reissued a “hold” rating and issued a $78.00 price target (up previously from $70.00) on shares of Edwards Lifesciences in a research note on Thursday, December 5th. Finally, Barclays increased their price target on shares of Edwards Lifesciences from $88.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $79.95.

Insider Activity

In other news, VP Daniel J. Lippis sold 400 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $69.48, for a total value of $27,792.00. Following the sale, the vice president now directly owns 22,588 shares in the company, valued at approximately $1,569,414.24. This trade represents a 1.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Scott B. Ullem sold 11,250 shares of the firm’s 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 sale, the chief financial officer now owns 30,561 shares in the company, valued at $2,315,301.36. The trade was a 26.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,303 shares of company stock worth $3,715,776. 1.29% of the stock is currently owned by corporate insiders.

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.