Edwards Lifesciences Co. (NYSE:EW) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lessened its holdings in Edwards Lifesciences Co. (NYSE:EW - Free Report) by 18.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 408,835 shares of the medical research company's stock after selling 92,826 shares during the period. Envestnet Asset Management Inc. owned 0.07% of Edwards Lifesciences worth $30,266,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Norges Bank bought a new position in Edwards Lifesciences during the fourth quarter valued at approximately $610,895,000. Jennison Associates LLC purchased a new stake in Edwards Lifesciences during the fourth quarter valued at about $555,939,000. Vanguard Group Inc. grew its stake in shares of Edwards Lifesciences by 10.4% during the fourth quarter. Vanguard Group Inc. now owns 69,132,036 shares of the medical research company's stock valued at $5,117,845,000 after buying an additional 6,537,494 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Edwards Lifesciences by 475.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 4,243,976 shares of the medical research company's stock worth $314,182,000 after buying an additional 3,506,886 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Edwards Lifesciences in the 4th quarter valued at about $213,844,000. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Edwards Lifesciences

In other Edwards Lifesciences news, CEO Bernard J. Zovighian sold 6,164 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $69.51, for a total transaction of $428,459.64. Following the transaction, the chief executive officer now owns 59,083 shares in the company, valued at $4,106,859.33. The trade was a 9.45 % 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, Director Steven R. Loranger sold 5,739 shares of the company's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $76.42, for a total transaction of $438,574.38. Following the transaction, the director now owns 60,372 shares in the company, valued at $4,613,628.24. The trade was a 8.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,853 shares of company stock valued at $5,163,062. Corporate insiders own 1.29% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on EW. Canaccord Genuity Group lifted their price target on Edwards Lifesciences from $68.00 to $71.00 and gave the stock a "hold" rating in a research note on Thursday, February 13th. Royal Bank of Canada reiterated an "outperform" rating and set a $85.00 price target on shares of Edwards Lifesciences in a report on Wednesday, February 12th. Morgan Stanley raised their price target on shares of Edwards Lifesciences from $70.00 to $75.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 12th. Truist Financial lowered their price objective on shares of Edwards Lifesciences from $78.00 to $75.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Finally, Piper Sandler upped their price target on Edwards Lifesciences from $70.00 to $73.00 and gave the company a "neutral" rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, Edwards Lifesciences currently has an average rating of "Hold" and an average price target of $78.55.

Edwards Lifesciences Stock Performance

Edwards Lifesciences stock traded up $0.36 during trading on Thursday, reaching $71.56. The company had a trading volume of 3,182,794 shares, compared to its average volume of 4,911,710. 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 firm's 50-day simple moving average is $71.29 and its 200 day simple moving average is $70.76. The firm has a market capitalization of $42.07 billion, a price-to-earnings ratio of 10.27, a price-to-earnings-growth ratio of 4.82 and a beta of 1.15. Edwards Lifesciences Co. has a 52 week low of $58.93 and a 52 week high of $95.25.

Edwards Lifesciences (NYSE:EW - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The medical research company reported $0.59 earnings per share 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%. Sell-side analysts forecast that Edwards Lifesciences Co. will post 2.45 earnings per share for the current fiscal year.

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.