Corebridge Financial Inc. Sells 10,976 Shares of Edwards Lifesciences Co. (NYSE:EW)

Corebridge Financial Inc. reduced its position in shares of Edwards Lifesciences Co. (NYSE:EW) by 6.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 152,316 shares of the medical research company’s stock after selling 10,976 shares during the quarter. Corebridge Financial Inc.’s holdings in Edwards Lifesciences were worth $11,276,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Abacus Planning Group Inc. lifted its holdings in Edwards Lifesciences by 0.3% in the fourth quarter. Abacus Planning Group Inc. now owns 40,207 shares of the medical research company’s stock valued at $2,977,000 after buying an additional 140 shares during the period. Bowman & Co S.C. boosted its position in shares of Edwards Lifesciences by 1.2% in the 4th quarter. Bowman & Co S.C. now owns 12,487 shares of the medical research company’s stock worth $924,000 after purchasing an additional 148 shares during the last quarter. Moors & Cabot Inc. grew its stake in shares of Edwards Lifesciences by 0.3% during the fourth quarter. Moors & Cabot Inc. now owns 54,589 shares of the medical research company’s stock worth $4,041,000 after purchasing an additional 152 shares during the period. Pegasus Asset Management Inc. lifted its stake in Edwards Lifesciences by 0.4% in the fourth quarter. Pegasus Asset Management Inc. now owns 42,628 shares of the medical research company’s stock valued at $3,156,000 after buying an additional 159 shares during the period. Finally, Mount Yale Investment Advisors LLC lifted its stake in Edwards Lifesciences by 1.9% in the fourth quarter. Mount Yale Investment Advisors LLC now owns 8,563 shares of the medical research company’s stock valued at $634,000 after buying an additional 162 shares during the period. 79.46% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Bernard J. Zovighian sold 6,164 shares of Edwards Lifesciences stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $69.51, for a total transaction of $428,459.64. Following the completion of the transaction, the chief executive officer now directly owns 59,083 shares in the company, valued at approximately $4,106,859.33. The trade was a 9.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Donald E. Bobo, Jr. sold 9,500 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $67.96, for a total value of $645,620.00. Following the completion of the sale, the vice president now owns 46,936 shares in the company, valued at approximately $3,189,770.56. This trade represents a 16.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 51,303 shares of company stock valued at $3,715,776 in the last quarter. Company insiders own 1.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on EW shares. Bank of America upgraded shares of Edwards Lifesciences from a “neutral” rating to a “buy” rating and increased their price target for the company from $82.00 to $90.00 in a research report on Monday, December 16th. Barclays lifted their price target on shares of Edwards Lifesciences from $88.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Truist Financial restated a “hold” rating and issued a $78.00 price objective (up previously from $70.00) on shares of Edwards Lifesciences in a research report on Thursday, December 5th. Citigroup lifted their target price on Edwards Lifesciences from $81.00 to $83.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, Evercore ISI lowered their price target on Edwards Lifesciences from $75.00 to $73.00 and set an “in-line” rating for the company in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $79.95.

Edwards Lifesciences Stock Performance

EW opened at $71.29 on Wednesday. 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 business’s 50-day simple moving average is $71.43 and its 200 day simple moving average is $70.45. The firm has a market capitalization of $41.91 billion, a PE ratio of 10.23, a PEG 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.

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

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.