7,509,650 Shares in Edwards Lifesciences Co. (NYSE:EW) Purchased by Jennison Associates LLC

Jennison Associates LLC acquired a new stake in Edwards Lifesciences Co. (NYSE:EW) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 7,509,650 shares of the medical research company’s stock, valued at approximately $555,939,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP raised its holdings in shares of Edwards Lifesciences by 86.3% in the 3rd quarter. Wellington Management Group LLP now owns 31,532,725 shares of the medical research company’s stock worth $2,080,845,000 after purchasing an additional 14,610,123 shares during the period. State Street Corp lifted its position in shares of Edwards Lifesciences by 1.0% during the 3rd quarter. State Street Corp now owns 26,265,633 shares of the medical research company’s stock valued at $1,733,270,000 after buying an additional 256,538 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Edwards Lifesciences by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 13,521,147 shares of the medical research company’s stock worth $889,050,000 after acquiring an additional 284,918 shares during the period. Fisher Asset Management LLC increased its holdings in Edwards Lifesciences by 9.8% in the 3rd quarter. Fisher Asset Management LLC now owns 9,078,311 shares of the medical research company’s stock worth $599,078,000 after acquiring an additional 806,705 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Edwards Lifesciences by 1.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,005,789 shares of the medical research company’s stock valued at $396,322,000 after purchasing an additional 61,275 shares during the last quarter. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on EW shares. Truist Financial reiterated a “hold” rating and issued a $78.00 target price (up previously from $70.00) on shares of Edwards Lifesciences in a research note on Thursday, December 5th. Citigroup boosted their target price on shares of Edwards Lifesciences from $81.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Canaccord Genuity Group increased their target price on Edwards Lifesciences from $63.00 to $68.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Wolfe Research cut Edwards Lifesciences from a “peer perform” rating to an “underperform” rating and set a $60.00 price target for the company. in a research report on Thursday, January 16th. Finally, Stifel Nicolaus raised Edwards Lifesciences from a “hold” rating to a “buy” rating and increased their price objective for the stock from $75.00 to $90.00 in a report on Thursday. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $79.19.

Edwards Lifesciences Price Performance

Shares of Edwards Lifesciences stock opened at $72.41 on Monday. The firm has a market capitalization of $42.71 billion, a PE ratio of 10.45, a price-to-earnings-growth ratio of 3.72 and a beta of 1.11. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. Edwards Lifesciences Co. has a 12 month low of $58.93 and a 12 month high of $96.12. The business’s 50-day moving average price is $72.49 and its 200-day moving average price is $69.73.

Insider Buying and Selling at Edwards Lifesciences

In related news, VP Daniel J. Lippis sold 2,500 shares of Edwards Lifesciences stock in a transaction on Monday, December 16th. The shares were sold at an average price of $74.08, for a total value of $185,200.00. Following the sale, the vice president now owns 23,189 shares in the company, valued at $1,717,841.12. The trade was a 9.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Larry L. Wood sold 25,000 shares of Edwards Lifesciences stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $65.91, for a total transaction of $1,647,750.00. Following the sale, the insider now directly owns 198,526 shares in the company, valued at $13,084,848.66. The trade was a 11.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,000 shares of company stock worth $2,195,180 over the last ninety days. Insiders own 1.27% of the company’s stock.

Edwards Lifesciences Profile

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.