Assetmark Inc. Trims Position in Edwards Lifesciences Co. (NYSE:EW)

Posted by Defense World Staff on Aug 8th, 2023

Assetmark Inc. trimmed its stake in Edwards Lifesciences Co. (NYSE:EW – Free Report) by 14.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,167 shares of the medical research company’s stock after selling 9,949 shares during the period. Assetmark Inc.’s holdings in Edwards Lifesciences were worth $4,812,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Edmond DE Rothschild Holding S.A. raised its stake in Edwards Lifesciences by 11.9% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 22,126 shares of the medical research company’s stock worth $1,651,000 after buying an additional 2,353 shares in the last quarter. Stonegate Investment Group LLC raised its position in shares of Edwards Lifesciences by 22.3% in the 1st quarter. Stonegate Investment Group LLC now owns 13,118 shares of the medical research company’s stock worth $1,085,000 after acquiring an additional 2,392 shares in the last quarter. Vontobel Holding Ltd. lifted its stake in shares of Edwards Lifesciences by 72.6% during the 1st quarter. Vontobel Holding Ltd. now owns 729,156 shares of the medical research company’s stock worth $60,323,000 after purchasing an additional 306,664 shares during the last quarter. Community Bank N.A. raised its holdings in Edwards Lifesciences by 2,285.7% in the fourth quarter. Community Bank N.A. now owns 1,002 shares of the medical research company’s stock worth $75,000 after purchasing an additional 960 shares in the last quarter. Finally, Korea Investment CORP lifted its position in shares of Edwards Lifesciences by 47.3% during the fourth quarter. Korea Investment CORP now owns 601,571 shares of the medical research company’s stock valued at $44,883,000 after buying an additional 193,111 shares during the last quarter. 79.78% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Scott B. Ullem sold 80,700 shares of the company’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $88.54, for a total transaction of $7,145,178.00. Following the completion of the transaction, the chief financial officer now owns 18,294 shares in the company, valued at approximately $1,619,750.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Edwards Lifesciences news, CFO Scott B. Ullem sold 80,700 shares of Edwards Lifesciences stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $88.54, for a total transaction of $7,145,178.00. Following the sale, the chief financial officer now owns 18,294 shares of the company’s stock, valued at approximately $1,619,750.76. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Catherine M. Szyman sold 5,000 shares of the company’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $85.81, for a total transaction of $429,050.00. Following the sale, the vice president now directly owns 35,056 shares of the company’s stock, valued at approximately $3,008,155.36. The disclosure for this sale can be found here. Insiders have sold a total of 240,376 shares of company stock worth $21,013,369 over the last 90 days. 1.29% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

EW has been the subject of a number of analyst reports. Wells Fargo & Company increased their target price on shares of Edwards Lifesciences from $78.00 to $90.00 in a research report on Thursday, April 27th. Truist Financial raised their price objective on Edwards Lifesciences from $101.00 to $105.00 in a research report on Wednesday, July 19th. Morgan Stanley reaffirmed an “overweight” rating and set a $102.00 target price on shares of Edwards Lifesciences in a research report on Friday, July 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $96.00 price target on shares of Edwards Lifesciences in a report on Tuesday, August 1st. Finally, Jefferies Financial Group upped their price objective on shares of Edwards Lifesciences from $103.00 to $107.00 and gave the company a “buy” rating in a report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Edwards Lifesciences presently has a consensus rating of “Hold” and an average price target of $92.68.

Get Our Latest Report on Edwards Lifesciences

Edwards Lifesciences Stock Up 0.4 %

EW opened at $79.84 on Tuesday. The company has a fifty day moving average of $88.51 and a two-hundred day moving average of $84.34. The stock has a market capitalization of $48.54 billion, a price-to-earnings ratio of 35.33, a PEG ratio of 4.29 and a beta of 1.02. Edwards Lifesciences Co. has a fifty-two week low of $67.13 and a fifty-two week high of $107.18. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.30 and a current ratio of 3.15.

Edwards Lifesciences (NYSE:EW – Get Free Report) last issued its quarterly earnings results on Wednesday, July 26th. The medical research company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. Edwards Lifesciences had a return on equity of 25.43% and a net margin of 24.56%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the prior year, the business posted $0.63 earnings per share. Edwards Lifesciences’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, research analysts expect that Edwards Lifesciences Co. will post 2.55 earnings per share for the current year.

Edwards Lifesciences Company Profile

(Free Report)

Edwards Lifesciences Corporation provides products and technologies for structural heart disease, and critical care and surgical monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of heart valves; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases.