KLP Kapitalforvaltning AS Makes New $16.44 Million Investment in Edwards Lifesciences Co. (NYSE:EW)

KLP Kapitalforvaltning AS purchased a new stake in Edwards Lifesciences Co. (NYSE:EW - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 222,022 shares of the medical research company's stock, valued at approximately $16,436,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Harbor Capital Advisors Inc. boosted its stake in shares of Edwards Lifesciences by 2.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 11,135 shares of the medical research company's stock worth $824,000 after buying an additional 273 shares during the period. Nordea Investment Management AB grew its stake in shares of Edwards Lifesciences by 34.6% in the 4th quarter. Nordea Investment Management AB now owns 4,057,013 shares of the medical research company's stock valued at $301,355,000 after purchasing an additional 1,043,484 shares during the last quarter. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST increased its holdings in shares of Edwards Lifesciences by 6.7% in the fourth quarter. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST now owns 4,800,000 shares of the medical research company's stock valued at $355,344,000 after purchasing an additional 300,000 shares during the period. Sivik Global Healthcare LLC acquired a new stake in shares of Edwards Lifesciences during the fourth quarter worth $3,702,000. Finally, Avanza Fonder AB purchased a new position in Edwards Lifesciences in the 4th quarter valued at $4,845,000. 79.46% of the stock is owned by institutional investors and hedge funds.

Edwards Lifesciences Trading Down 0.4 %

Shares of NYSE EW traded down $0.29 on Friday, reaching $70.90. 4,513,774 shares of the company traded hands, compared to its average volume of 4,808,657. The company has a 50 day moving average of $71.49 and a 200 day moving average of $70.49. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $95.73. The stock has a market capitalization of $41.68 billion, a PE ratio of 10.17, a P/E/G ratio of 4.82 and a beta of 1.12.

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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%. On average, equities research analysts forecast that Edwards Lifesciences Co. will post 2.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Edwards Lifesciences

In other news, Director Steven R. Loranger sold 5,739 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $76.42, for a total value of $438,574.38. Following the completion of the sale, the director now owns 60,372 shares of the company's stock, valued at $4,613,628.24. This represents a 8.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Scott B. Ullem sold 11,250 shares of Edwards Lifesciences stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $70.87, for a total transaction of $797,287.50. Following the transaction, the chief financial officer now owns 30,387 shares in the company, valued at $2,153,526.69. The trade was a 27.02 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,553 shares of company stock valued at $4,513,064. Company insiders own 1.29% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on EW shares. Wolfe Research cut shares of Edwards Lifesciences from a "hold" rating to a "strong sell" rating in a research note on Wednesday, February 12th. Morgan Stanley boosted their target price on Edwards Lifesciences from $70.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 12th. Truist Financial restated a "hold" rating and issued a $78.00 price target (up from $70.00) on shares of Edwards Lifesciences in a research note on Thursday, December 5th. Stifel Nicolaus upgraded Edwards Lifesciences from a "hold" rating to a "buy" rating and increased their price objective for the stock from $75.00 to $90.00 in a research report on Thursday, January 30th. Finally, Bank of America upgraded shares of Edwards Lifesciences from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $82.00 to $90.00 in a research report on Monday, December 16th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Edwards Lifesciences currently 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.