Corient Private Wealth LLC Cuts Holdings in Edwards Lifesciences Co. (NYSE:EW)

Corient Private Wealth LLC decreased its position in Edwards Lifesciences Co. (NYSE:EW) by 8.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 137,831 shares of the medical research company’s stock after selling 13,440 shares during the period. Corient Private Wealth LLC’s holdings in Edwards Lifesciences were worth $10,510,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Edwards Lifesciences in the 4th quarter worth about $648,540,000. Brown Advisory Inc. boosted its stake in Edwards Lifesciences by 20.1% in the fourth quarter. Brown Advisory Inc. now owns 18,181,420 shares of the medical research company’s stock valued at $1,386,333,000 after acquiring an additional 3,048,274 shares during the last quarter. AustralianSuper Pty Ltd bought a new position in shares of Edwards Lifesciences during the 4th quarter valued at approximately $168,519,000. Nordea Investment Management AB increased its stake in shares of Edwards Lifesciences by 1,224.1% during the 4th quarter. Nordea Investment Management AB now owns 1,610,412 shares of the medical research company’s stock worth $123,261,000 after purchasing an additional 1,488,791 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Edwards Lifesciences by 9.2% in the 3rd quarter. Wellington Management Group LLP now owns 16,434,401 shares of the medical research company’s stock worth $1,138,575,000 after purchasing an additional 1,390,427 shares during the period. Institutional investors own 79.46% of the company’s stock.

Insider Transactions at Edwards Lifesciences

In related news, CEO Bernard J. Zovighian bought 580 shares of the company’s stock in a transaction on Monday, May 6th. The stock was acquired at an average cost of $85.74 per share, for a total transaction of $49,729.20. Following the completion of the transaction, the chief executive officer now directly owns 3,268 shares in the company, valued at approximately $280,198.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Scott B. Ullem sold 7,255 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $85.59, for a total value of $620,955.45. Following the completion of the transaction, the chief financial officer now directly owns 19,074 shares in the company, valued at approximately $1,632,543.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Bernard J. Zovighian acquired 580 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were purchased at an average cost of $85.74 per share, for a total transaction of $49,729.20. Following the completion of the acquisition, the chief executive officer now owns 3,268 shares in the company, valued at approximately $280,198.32. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 180,707 shares of company stock valued at $16,034,814. 1.29% of the stock is owned by corporate insiders.

Edwards Lifesciences Stock Up 0.6 %

EW opened at $87.98 on Friday. The firm has a market capitalization of $53.02 billion, a P/E ratio of 37.92, a price-to-earnings-growth ratio of 3.22 and a beta of 1.10. Edwards Lifesciences Co. has a one year low of $60.57 and a one year high of $96.12. The company has a fifty day moving average price of $89.68 and a 200-day moving average price of $81.63. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.75 and a quick ratio of 2.67.

Edwards Lifesciences (NYSE:EW) last posted its earnings results on Thursday, April 25th. The medical research company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.64 by $0.02. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Edwards Lifesciences had a return on equity of 22.86% and a net margin of 23.01%. Equities research analysts expect that Edwards Lifesciences Co. will post 2.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on EW shares. Deutsche Bank Aktiengesellschaft raised Edwards Lifesciences from a “hold” rating to a “buy” rating and increased their price objective for the company from $86.00 to $103.00 in a report on Tuesday, May 14th. Morgan Stanley increased their price target on Edwards Lifesciences from $95.00 to $103.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Bank of America raised Edwards Lifesciences from a “neutral” rating to a “buy” rating in a report on Thursday, March 7th. Royal Bank of Canada upped their price objective on shares of Edwards Lifesciences from $95.00 to $101.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Finally, Piper Sandler lifted their target price on shares of Edwards Lifesciences from $85.00 to $88.00 and gave the stock a “neutral” rating in a research note on Friday, April 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $94.31.

About Edwards Lifesciences

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.