Wellington Management Group LLP grew its stake in shares of Edwards Lifesciences Corporation (NYSE:EW – Free Report) by 4.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,804,416 shares of the medical research company’s stock after acquiring an additional 977,933 shares during the period. Wellington Management Group LLP owned 3.59% of Edwards Lifesciences worth $1,617,959,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in EW. Norges Bank bought a new position in Edwards Lifesciences during the second quarter worth about $580,640,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in Edwards Lifesciences by 111.2% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 9,129,357 shares of the medical research company’s stock valued at $714,006,000 after purchasing an additional 4,805,819 shares during the period. Marshall Wace LLP grew its position in shares of Edwards Lifesciences by 127.5% during the 2nd quarter. Marshall Wace LLP now owns 6,895,579 shares of the medical research company’s stock worth $539,303,000 after purchasing an additional 3,864,908 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Edwards Lifesciences by 19.6% during the third quarter. Jennison Associates LLC now owns 13,958,774 shares of the medical research company’s stock worth $1,085,574,000 after purchasing an additional 2,287,783 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Edwards Lifesciences by 8.1% during the third quarter. Bank of New York Mellon Corp now owns 19,010,227 shares of the medical research company’s stock worth $1,478,425,000 after purchasing an additional 1,423,365 shares during the period. Institutional investors and hedge funds own 79.46% of the company’s stock.
Edwards Lifesciences Price Performance
Edwards Lifesciences stock opened at $81.82 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.09 and a current ratio of 3.72. Edwards Lifesciences Corporation has a 52 week low of $65.94 and a 52 week high of $87.89. The stock has a market capitalization of $47.52 billion, a P/E ratio of 44.71, a price-to-earnings-growth ratio of 2.21 and a beta of 0.93. The stock has a fifty day moving average of $82.41 and a 200-day moving average of $81.58.
Insider Activity
In related news, VP Daniel J. Lippis sold 1,019 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $85.38, for a total value of $87,002.22. Following the completion of the transaction, the vice president owned 33,934 shares of the company’s stock, valued at $2,897,284.92. This represents a 2.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Donald E. Bobo, Jr. sold 11,340 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $85.93, for a total transaction of $974,446.20. Following the completion of the sale, the vice president owned 21,266 shares in the company, valued at $1,827,387.38. This represents a 34.78% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 61,718 shares of company stock worth $5,236,281. Corporate insiders own 1.29% of the company’s stock.
Wall Street Analyst Weigh In
EW has been the subject of several analyst reports. Stifel Nicolaus set a $110.00 price objective on Edwards Lifesciences and gave the company a “buy” rating in a report on Tuesday, January 20th. Truist Financial set a $89.00 target price on Edwards Lifesciences and gave the stock a “hold” rating in a report on Wednesday, February 11th. The Goldman Sachs Group restated a “buy” rating and issued a $95.00 price target (down from $108.00) on shares of Edwards Lifesciences in a research report on Wednesday, February 11th. BTIG Research reaffirmed a “buy” rating and set a $103.00 price objective on shares of Edwards Lifesciences in a research report on Wednesday, February 11th. Finally, Barclays reiterated an “overweight” rating and set a $104.00 price objective (up from $103.00) on shares of Edwards Lifesciences in a research note on Monday, January 12th. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $96.14.
Check Out Our Latest Stock Report on EW
About Edwards Lifesciences
Edwards Lifesciences is a medical technology company focused on products and therapies for structural heart disease and critical care monitoring. The company designs, develops and manufactures prosthetic heart valves and related delivery systems used in both surgical and minimally invasive (transcatheter) procedures. Its portfolio addresses a range of valvular conditions, with an emphasis on technologies that enable transcatheter aortic valve replacement (TAVR) as an alternative to open-heart surgery.
In addition to transcatheter heart valves—including the widely recognized SAPIEN family—Edwards offers surgical tissue valves and ancillary devices used by cardiac surgeons, interventional cardiologists and hospital teams.
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