Truist Financial Corp grew its holdings in Edwards Lifesciences Co. (NYSE:EW – Free Report) by 3.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 92,622 shares of the medical research company’s stock after purchasing an additional 3,355 shares during the quarter. Truist Financial Corp’s holdings in Edwards Lifesciences were worth $7,663,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the business. Versor Investments LP bought a new stake in shares of Edwards Lifesciences in the 1st quarter valued at about $792,000. Destination Wealth Management raised its stake in shares of Edwards Lifesciences by 8.5% during the 1st quarter. Destination Wealth Management now owns 9,657 shares of the medical research company’s stock worth $799,000 after acquiring an additional 755 shares in the last quarter. Pitcairn Co. raised its stake in shares of Edwards Lifesciences by 5.0% during the 1st quarter. Pitcairn Co. now owns 50,906 shares of the medical research company’s stock worth $4,211,000 after acquiring an additional 2,420 shares in the last quarter. Pinnacle Associates Ltd. raised its stake in shares of Edwards Lifesciences by 15.0% during the 1st quarter. Pinnacle Associates Ltd. now owns 6,078 shares of the medical research company’s stock worth $503,000 after acquiring an additional 795 shares in the last quarter. Finally, Andesa Financial Management Inc. raised its stake in shares of Edwards Lifesciences by 83.5% during the 1st quarter. Andesa Financial Management Inc. now owns 5,448 shares of the medical research company’s stock worth $362,000 after acquiring an additional 2,479 shares in the last quarter. Institutional investors own 79.78% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts recently commented on EW shares. Stifel Nicolaus boosted their price objective on shares of Edwards Lifesciences from $75.00 to $87.00 in a research note on Monday, April 24th. Piper Sandler boosted their price objective on shares of Edwards Lifesciences from $83.00 to $88.00 in a research note on Thursday, July 27th. Barclays boosted their price objective on shares of Edwards Lifesciences from $94.00 to $102.00 in a research note on Friday, April 28th. Wells Fargo & Company boosted their price objective on shares of Edwards Lifesciences from $78.00 to $90.00 in a research note on Thursday, April 27th. Finally, Mizuho boosted their target price on shares of Edwards Lifesciences from $95.00 to $102.00 in a research report on Monday, July 17th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $92.68.
Edwards Lifesciences Stock Up 0.4 %
EW stock opened at $78.28 on Friday. The firm’s fifty day simple moving average is $88.29 and its 200-day simple moving average is $84.30. Edwards Lifesciences Co. has a 12 month low of $67.13 and a 12 month high of $105.79. The company has a market capitalization of $47.59 billion, a P/E ratio of 34.64, a price-to-earnings-growth ratio of 4.31 and a beta of 1.02. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.15 and a quick ratio of 2.30.
Edwards Lifesciences (NYSE:EW – Get Free Report) last announced 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 net margin of 24.56% and a return on equity of 25.43%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the prior year, the firm posted $0.63 earnings per share. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. As a group, equities research analysts forecast that Edwards Lifesciences Co. will post 2.55 earnings per share for the current year.
Insider Buying and Selling
In other Edwards Lifesciences news, VP Catherine M. Szyman sold 5,000 shares of the company’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $85.81, for a total transaction of $429,050.00. Following the completion of the transaction, the vice president now directly owns 35,056 shares in the company, valued at $3,008,155.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Heisz Leslie Stone sold 3,303 shares of the stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $78.87, for a total value of $260,507.61. Following the completion of the sale, the director now directly owns 26,980 shares in the company, valued at $2,127,912.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Catherine M. Szyman sold 5,000 shares of the stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $85.81, for a total transaction of $429,050.00. Following the completion of the sale, the vice president now owns 35,056 shares of the company’s stock, valued at $3,008,155.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 148,104 shares of company stock valued at $12,763,159. Corporate insiders own 1.29% of the company’s stock.
Edwards Lifesciences Company Profile
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.
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