Sei Investments Co. increased its position in Edwards Lifesciences Co. (NYSE:EW) by 46.5% during the first quarter, Holdings Channel reports. The firm owned 548,181 shares of the medical research company’s stock after buying an additional 173,911 shares during the quarter. Sei Investments Co.’s holdings in Edwards Lifesciences were worth $45,889,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its holdings in Edwards Lifesciences by 5.7% in the 4th quarter. Bank of New York Mellon Corp now owns 21,783,830 shares of the medical research company’s stock valued at $1,987,339,000 after acquiring an additional 1,181,085 shares during the period. Brown Advisory Inc. raised its holdings in Edwards Lifesciences by 7.1% in the 4th quarter. Brown Advisory Inc. now owns 13,581,363 shares of the medical research company’s stock valued at $1,239,027,000 after acquiring an additional 895,789 shares during the period. Alliancebernstein L.P. increased its holdings in shares of Edwards Lifesciences by 1.9% during the first quarter. Alliancebernstein L.P. now owns 13,076,383 shares of the medical research company’s stock worth $1,093,709,000 after purchasing an additional 239,765 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Edwards Lifesciences by 32.1% during the fourth quarter. Janus Henderson Group PLC now owns 9,741,014 shares of the medical research company’s stock worth $888,674,000 after purchasing an additional 2,365,014 shares during the period. Finally, Norges Bank bought a new position in shares of Edwards Lifesciences during the fourth quarter worth approximately $689,483,000. 80.45% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP Jean-Luc M. Lemercier sold 13,020 shares of Edwards Lifesciences stock in a transaction on Thursday, April 1st. The shares were sold at an average price of $83.66, for a total transaction of $1,089,253.20. Also, VP Catherine M. Szyman sold 3,389 shares of Edwards Lifesciences stock in a transaction on Monday, March 15th. The stock was sold at an average price of $81.66, for a total transaction of $276,745.74. Insiders have sold 235,941 shares of company stock valued at $21,331,732 in the last three months. 1.35% of the stock is owned by insiders.
Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Monday, April 19th. The medical research company reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.07. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.16 billion. Edwards Lifesciences had a net margin of 19.02% and a return on equity of 27.63%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.50 earnings per share. As a group, sell-side analysts expect that Edwards Lifesciences Co. will post 2.2 earnings per share for the current year.
Several research analysts have recently commented on EW shares. Piper Sandler raised their target price on shares of Edwards Lifesciences from $97.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, April 21st. Morgan Stanley raised their target price on shares of Edwards Lifesciences from $99.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, April 21st. Wells Fargo & Company increased their price target on shares of Edwards Lifesciences from $87.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 21st. Barclays began coverage on shares of Edwards Lifesciences in a research report on Monday, May 24th. They set an “overweight” rating and a $110.00 price target on the stock. Finally, Atlantic Securities began coverage on shares of Edwards Lifesciences in a research report on Thursday, April 15th. They set a “neutral” rating and a $85.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $100.60.
About Edwards Lifesciences
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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