Edwards Lifesciences Co. (NYSE:EW) Shares Sold by Bell Asset Management Ltd

Bell Asset Management Ltd lowered its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 44.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,132 shares of the medical research company’s stock after selling 43,195 shares during the period. Bell Asset Management Ltd’s holdings in Edwards Lifesciences were worth $4,007,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of EW. Vanguard Group Inc. increased its holdings in shares of Edwards Lifesciences by 10.4% in the fourth quarter. Vanguard Group Inc. now owns 69,132,036 shares of the medical research company’s stock valued at $5,117,845,000 after purchasing an additional 6,537,494 shares during the period. Wellington Management Group LLP grew its position in Edwards Lifesciences by 5.3% in the 4th quarter. Wellington Management Group LLP now owns 33,210,879 shares of the medical research company’s stock valued at $2,458,601,000 after buying an additional 1,678,154 shares during the last quarter. Geode Capital Management LLC increased its stake in Edwards Lifesciences by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 13,647,341 shares of the medical research company’s stock valued at $1,007,520,000 after buying an additional 126,194 shares during the period. Fisher Asset Management LLC raised its position in Edwards Lifesciences by 7.7% during 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 buying an additional 696,965 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Edwards Lifesciences in the 4th quarter worth $610,895,000. 79.46% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Edwards Lifesciences

In other Edwards Lifesciences news, CEO Bernard J. Zovighian sold 6,164 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $69.51, for a total transaction of $428,459.64. Following the transaction, the chief executive officer now owns 59,083 shares of the company’s stock, valued at $4,106,859.33. This trade represents a 9.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Scott B. Ullem sold 11,250 shares of the business’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 sale, the chief financial officer now directly owns 30,561 shares of the company’s stock, valued at $2,315,301.36. This represents a 26.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 62,553 shares of company stock worth $4,513,064 over the last quarter. 1.29% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EW. Royal Bank of Canada reiterated an “outperform” rating and set a $85.00 price target on shares of Edwards Lifesciences in a research note on Wednesday, February 12th. Bank of America upgraded Edwards Lifesciences from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $82.00 to $90.00 in a research report on Monday, December 16th. Barclays raised their price target on Edwards Lifesciences from $88.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Piper Sandler upped their price objective on Edwards Lifesciences from $70.00 to $73.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Finally, Wolfe Research downgraded Edwards Lifesciences from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 12th. One equities 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 stock. According to data from MarketBeat, Edwards Lifesciences has an average rating of “Hold” and an average target price of $79.95.

Edwards Lifesciences Stock Down 4.9 %

Shares of NYSE:EW opened at $69.39 on Monday. The company has a market capitalization of $40.79 billion, a P/E ratio of 9.95, a P/E/G ratio of 4.82 and a beta of 1.15. The stock’s fifty day simple moving average is $71.74 and its 200-day simple moving average is $70.66. Edwards Lifesciences Co. has a 52-week low of $58.93 and a 52-week high of $95.25. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06.

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, beating 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%. As a group, equities research analysts forecast that Edwards Lifesciences Co. will post 2.45 earnings per share for the current fiscal year.

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.