Primecap Management Co. CA Increases Holdings in Edwards Lifesciences Co. (NYSE:EW)

Primecap Management Co. CA raised its position in shares of Edwards Lifesciences Co. (NYSE:EW - Free Report) by 14.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,043,500 shares of the medical research company's stock after acquiring an additional 258,800 shares during the quarter. Primecap Management Co. CA owned approximately 0.35% of Edwards Lifesciences worth $151,280,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Wellington Management Group LLP boosted its position in Edwards Lifesciences by 86.3% during the 3rd quarter. Wellington Management Group LLP now owns 31,532,725 shares of the medical research company's stock valued at $2,080,845,000 after acquiring an additional 14,610,123 shares in the last quarter. State Street Corp lifted its holdings in shares of Edwards Lifesciences by 1.0% during the third quarter. State Street Corp now owns 26,265,633 shares of the medical research company's stock valued at $1,733,270,000 after purchasing an additional 256,538 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Edwards Lifesciences by 2.2% during the third quarter. Geode Capital Management LLC now owns 13,521,147 shares of the medical research company's stock valued at $889,050,000 after purchasing an additional 284,918 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Edwards Lifesciences by 7.7% during the fourth quarter. Fisher Asset Management LLC now owns 9,775,276 shares of the medical research company's stock valued at $723,664,000 after purchasing an additional 696,965 shares during the last quarter. Finally, Jennison Associates LLC purchased a new position in shares of Edwards Lifesciences during the fourth quarter valued at approximately $555,939,000. 79.46% of the stock is owned by institutional investors.

Remove Ads

Edwards Lifesciences Price Performance

Edwards Lifesciences stock traded down $0.50 during mid-day trading on Friday, hitting $70.46. The stock had a trading volume of 7,144,270 shares, compared to its average volume of 4,607,998. The firm has a market capitalization of $41.42 billion, a P/E ratio of 10.11, a P/E/G ratio of 4.82 and a beta of 1.12. 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 moving average is $71.42 and its 200 day moving average is $70.36. Edwards Lifesciences Co. has a one year low of $58.93 and a one year high of $96.12.

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group lifted their target price on shares of Edwards Lifesciences from $81.00 to $90.00 and gave the company a "buy" rating in a report on Thursday, December 5th. Piper Sandler lifted their target price on shares of Edwards Lifesciences from $70.00 to $73.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. Canaccord Genuity Group lifted their target price on shares of Edwards Lifesciences from $68.00 to $71.00 and gave the company a "hold" rating in a report on Thursday, February 13th. Wolfe Research lowered shares of Edwards Lifesciences from a "hold" rating to a "strong sell" rating in a report on Wednesday, February 12th. Finally, Bank of America upgraded shares of Edwards Lifesciences from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $82.00 to $90.00 in a report on Monday, December 16th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $79.95.

Insider Buying and Selling

In other Edwards Lifesciences news, CEO Bernard J. Zovighian sold 6,164 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $69.51, for a total transaction of $428,459.64. Following the completion of the transaction, the chief executive officer now owns 59,083 shares of the company's stock, valued at $4,106,859.33. This represents a 9.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Donald E. Bobo, Jr. sold 9,500 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $67.96, for a total transaction of $645,620.00. Following the transaction, the vice president now directly owns 46,936 shares of the company's stock, valued at $3,189,770.56. This trade represents a 16.83 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,303 shares of company stock valued at $3,715,776. Company insiders own 1.29% of the company's stock.

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.