Allianz SE Takes Position in Edwards Lifesciences Co. (NYSE:EW)

Allianz SE purchased a new position in shares of Edwards Lifesciences Co. (NYSE:EW) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,560 shares of the medical research company’s stock, valued at approximately $339,000.

Other hedge funds have also made changes to their positions in the company. Allstate Corp purchased a new stake in shares of Edwards Lifesciences during the fourth quarter worth approximately $1,316,000. Brown Brothers Harriman & Co. boosted its stake in Edwards Lifesciences by 17.6% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,183 shares of the medical research company’s stock valued at $88,000 after acquiring an additional 177 shares in the last quarter. DnB Asset Management AS grew its stake in Edwards Lifesciences by 3.6% during the 4th quarter. DnB Asset Management AS now owns 327,924 shares of the medical research company’s stock worth $24,276,000 after buying an additional 11,348 shares during the last quarter. Pictet Asset Management Holding SA increased its holdings in shares of Edwards Lifesciences by 7.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 375,745 shares of the medical research company’s stock valued at $27,816,000 after acquiring an additional 26,573 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of Edwards Lifesciences by 7.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 216,517 shares of the medical research company’s stock valued at $16,029,000 after buying an additional 15,014 shares during the last quarter. Institutional investors and hedge funds own 79.46% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on EW shares. Morgan Stanley lifted their price objective on shares of Edwards Lifesciences from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 12th. Royal Bank of Canada reiterated an “outperform” rating and set a $85.00 target price on shares of Edwards Lifesciences in a research report on Wednesday, February 12th. Truist Financial reiterated a “hold” rating and issued a $78.00 price target (up from $70.00) on shares of Edwards Lifesciences in a research report on Thursday, December 5th. Bank of America upgraded Edwards Lifesciences from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $82.00 to $90.00 in a research report on Monday, December 16th. Finally, Piper Sandler increased their price target on Edwards Lifesciences from $70.00 to $73.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Edwards Lifesciences has an average rating of “Hold” and a consensus price target of $79.95.

Edwards Lifesciences Trading Down 0.4 %

EW opened at $70.90 on Monday. The firm’s 50 day moving average is $71.49 and its 200-day moving average is $70.53. The firm has a market capitalization 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. Edwards Lifesciences Co. has a 52-week low of $58.93 and a 52-week high of $95.73. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings data on Tuesday, February 11th. The medical research company reported $0.59 earnings per share for the quarter, beating 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%. Analysts expect that Edwards Lifesciences Co. will post 2.45 EPS for the current fiscal year.

Insider Activity

In other Edwards Lifesciences news, CFO Scott B. Ullem sold 11,250 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $2,315,301.36. The trade was a 26.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Bernard J. Zovighian sold 6,164 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $69.51, for a total value of $428,459.64. Following the completion of the sale, the chief executive officer now owns 59,083 shares of the company’s stock, valued at $4,106,859.33. This trade represents a 9.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,553 shares of company stock worth $4,513,064. 1.29% of the stock is currently owned by insiders.

Edwards Lifesciences Company 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.