Norges Bank Takes Position in Edwards Lifesciences Co. (NYSE:EW)

Norges Bank bought a new position in shares of Edwards Lifesciences Co. (NYSE:EW) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 8,251,995 shares of the medical research company’s stock, valued at approximately $610,895,000.

Several other hedge funds have also recently modified their holdings of EW. Caisse Des Depots ET Consignations bought a new stake in shares of Edwards Lifesciences in the 4th quarter worth about $5,644,000. NEOS Investment Management LLC grew its position in Edwards Lifesciences by 2.3% in the fourth quarter. NEOS Investment Management LLC now owns 58,008 shares of the medical research company’s stock worth $4,294,000 after acquiring an additional 1,282 shares in the last quarter. Sava Infond d.o.o. bought a new stake in Edwards Lifesciences during the fourth quarter worth approximately $370,000. WINTON GROUP Ltd purchased a new stake in Edwards Lifesciences during the fourth quarter valued at approximately $3,230,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Edwards Lifesciences by 6.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 951,514 shares of the medical research company’s stock valued at $70,326,000 after purchasing an additional 58,352 shares during the last quarter. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Trading Down 0.4 %

NYSE:EW opened at $70.90 on Friday. The firm has a 50-day simple moving average of $71.49 and a 200-day simple moving average of $70.49. Edwards Lifesciences Co. has a one year low of $58.93 and a one year high of $95.73. The firm has a market cap of $41.68 billion, a P/E ratio of 10.17, a P/E/G ratio of 4.82 and a beta of 1.12. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46.

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

Insider Buying and Selling

In related news, VP Daniel J. Lippis sold 400 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $69.48, for a total transaction of $27,792.00. Following the completion of the transaction, the vice president now owns 22,588 shares in the company, valued at $1,569,414.24. The trade was a 1.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Scott B. Ullem sold 11,250 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $75.76, for a total transaction of $852,300.00. Following the sale, the chief financial officer now directly owns 30,561 shares of the company’s stock, valued at $2,315,301.36. The trade was a 26.91 % 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 in the last three months. 1.29% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Truist Financial restated a “hold” rating and set a $78.00 price target (up previously from $70.00) on shares of Edwards Lifesciences in a report on Thursday, December 5th. Wolfe Research lowered shares of Edwards Lifesciences from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 12th. Citigroup upped their price target 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. Bank of America raised shares of Edwards Lifesciences from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $82.00 to $90.00 in a research report on Monday, December 16th. Finally, Canaccord Genuity Group upped their target price on Edwards Lifesciences from $68.00 to $71.00 and gave the company a “hold” rating in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Edwards Lifesciences presently has an average rating of “Hold” and a consensus price target of $79.95.

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.