Edwards Lifesciences Co. (NYSE:EW) Position Trimmed by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury lowered its stake in Edwards Lifesciences Co. (NYSE:EW - Free Report) by 3.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 270,225 shares of the medical research company's stock after selling 9,803 shares during the period. State of Tennessee Department of Treasury's holdings in Edwards Lifesciences were worth $20,005,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. raised its position 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 worth $5,117,845,000 after purchasing an additional 6,537,494 shares during the period. Wellington Management Group LLP increased its stake in Edwards Lifesciences by 5.3% in the 4th quarter. Wellington Management Group LLP now owns 33,210,879 shares of the medical research company's stock worth $2,458,601,000 after purchasing an additional 1,678,154 shares in the last quarter. Geode Capital Management LLC increased its stake in Edwards Lifesciences by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 13,647,341 shares of the medical research company's stock worth $1,007,520,000 after purchasing an additional 126,194 shares in the last quarter. Fisher Asset Management LLC raised its holdings in Edwards Lifesciences by 7.7% during the 4th quarter. Fisher Asset Management LLC now owns 9,775,276 shares of the medical research company's stock worth $723,664,000 after buying an additional 696,965 shares during the period. Finally, Norges Bank purchased a new stake in Edwards Lifesciences during the fourth quarter valued at about $610,895,000. Institutional investors and hedge funds own 79.46% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on EW. Truist Financial cut their price target on shares of Edwards Lifesciences from $78.00 to $75.00 and set a "hold" rating on the stock in a report on Friday, April 11th. Evercore ISI reduced their target price on Edwards Lifesciences from $75.00 to $73.00 and set an "in-line" rating for the company in a report on Wednesday, February 12th. Canaccord Genuity Group raised their target price on Edwards Lifesciences from $68.00 to $71.00 and gave the stock a "hold" rating in a research report on Thursday, February 13th. Wolfe Research lowered Edwards Lifesciences from a "hold" rating to a "strong sell" rating in a research report on Wednesday, February 12th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $85.00 price objective on shares of Edwards Lifesciences in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $78.55.

Edwards Lifesciences Trading Up 1.9 %

Shares of EW stock opened at $70.54 on Wednesday. The business's 50 day moving average is $71.07 and its two-hundred day moving average is $70.95. 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 Co. has a 12 month low of $58.93 and a 12 month high of $95.25. The company has a market cap of $41.47 billion, a PE ratio of 10.12, a price-to-earnings-growth ratio of 4.82 and a beta of 1.15.

Edwards Lifesciences (NYSE:EW - Get Free Report) last released its 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%. Equities analysts predict that Edwards Lifesciences Co. will post 2.45 EPS for the current year.

Insider Buying and Selling at Edwards Lifesciences

In other news, 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 transaction of $797,287.50. Following the sale, the chief financial officer now owns 30,387 shares of the company's stock, valued at approximately $2,153,526.69. This trade represents a 27.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Donald E. Bobo, Jr. sold 9,500 shares of the company's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $69.81, for a total value of $663,195.00. Following the completion of the transaction, the vice president now owns 47,206 shares of the company's stock, valued at $3,295,450.86. The trade was a 16.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,853 shares of company stock valued at $5,163,062 in the last 90 days. 1.29% of the stock is currently owned by insiders.

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.

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