TIAA Trust National Association Increases Stake in Edwards Lifesciences Co. (NYSE:EW)

TIAA Trust National Association boosted its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 6.4% during the 4th quarter, Holdings Channel reports. The firm owned 10,943 shares of the medical research company’s stock after acquiring an additional 656 shares during the quarter. TIAA Trust National Association’s holdings in Edwards Lifesciences were worth $810,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Larson Financial Group LLC increased its position in shares of Edwards Lifesciences by 199.1% in the 3rd quarter. Larson Financial Group LLC now owns 4,391 shares of the medical research company’s stock valued at $290,000 after acquiring an additional 2,923 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Edwards Lifesciences in the third quarter valued at about $825,000. Private Trust Co. NA increased its holdings in shares of Edwards Lifesciences by 8.6% in the third quarter. Private Trust Co. NA now owns 2,931 shares of the medical research company’s stock valued at $193,000 after purchasing an additional 233 shares during the period. Townsquare Capital LLC raised its stake in shares of Edwards Lifesciences by 20.5% in the third quarter. Townsquare Capital LLC now owns 5,208 shares of the medical research company’s stock worth $344,000 after purchasing an additional 886 shares during the last quarter. Finally, Glenmede Trust Co. NA lifted its holdings in shares of Edwards Lifesciences by 6.0% during the third quarter. Glenmede Trust Co. NA now owns 381,168 shares of the medical research company’s stock worth $25,153,000 after purchasing an additional 21,505 shares during the period. Institutional investors and hedge funds own 79.46% of the company’s stock.

Edwards Lifesciences Trading Up 0.1 %

EW stock opened at $71.17 on Friday. 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 is $71.47 and its 200 day moving average is $70.46. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. The stock has a market cap of $41.84 billion, a price-to-earnings ratio of 10.21, a PEG ratio of 4.82 and a beta of 1.12.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Tuesday, February 11th. The medical research company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. On average, sell-side analysts anticipate that Edwards Lifesciences Co. will post 2.45 EPS for the current fiscal year.

Insider Activity

In related news, VP Daniel J. Lippis sold 500 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $68.76, for a total value of $34,380.00. Following the completion of the sale, the vice president now owns 23,189 shares of the company’s stock, valued at approximately $1,594,475.64. This trade represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Scott B. Ullem sold 11,250 shares of Edwards Lifesciences stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $70.87, for a total value of $797,287.50. Following the transaction, the chief financial officer now owns 30,387 shares in the company, valued at approximately $2,153,526.69. The trade was a 27.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 62,553 shares of company stock worth $4,513,064 over the last three months. Insiders own 1.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on EW. Stifel Nicolaus raised shares of Edwards Lifesciences from a “hold” rating to a “buy” rating and raised their price target for the stock from $75.00 to $90.00 in a research report on Thursday, January 30th. Canaccord Genuity Group boosted their target price on shares of Edwards Lifesciences from $68.00 to $71.00 and gave the company a “hold” rating in a research report on Thursday, February 13th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $85.00 price target on shares of Edwards Lifesciences in a report on Wednesday, February 12th. Truist Financial reiterated a “hold” rating and set a $78.00 price objective (up previously from $70.00) on shares of Edwards Lifesciences in a research note on Thursday, December 5th. Finally, Bank of America upgraded Edwards Lifesciences from a “neutral” rating to a “buy” rating and upped their target price for the stock from $82.00 to $90.00 in a research note on Monday, December 16th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Edwards Lifesciences presently has a consensus rating of “Hold” and an average price target of $79.95.

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.