Resona Asset Management Co. Ltd. Takes $13.78 Million Position in Edwards Lifesciences Co. (NYSE:EW)

Resona Asset Management Co. Ltd. bought a new position in Edwards Lifesciences Co. (NYSE:EW - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 185,539 shares of the medical research company's stock, valued at approximately $13,779,000.

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Morgan Stanley boosted their price target 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. Piper Sandler upped their target price on Edwards Lifesciences from $70.00 to $73.00 and gave the stock a "neutral" rating in a report on Wednesday, February 12th. Royal Bank of Canada restated an "outperform" rating and issued a $85.00 target price on shares of Edwards Lifesciences in a research note on Wednesday, February 12th. Barclays increased their price objective on Edwards Lifesciences from $88.00 to $90.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Finally, Bank of America upgraded shares of Edwards Lifesciences from a "neutral" rating to a "buy" rating and boosted their target price for the company from $82.00 to $90.00 in a report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $79.81.

Edwards Lifesciences Stock Performance

Shares of EW traded up $0.03 on Friday, reaching $68.29. The company's stock had a trading volume of 1,252,832 shares, compared to its average volume of 4,883,505. The stock's 50 day simple moving average is $71.36 and its two-hundred day simple moving average is $70.67. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89. The stock has a market capitalization of $40.14 billion, a P/E ratio of 9.79, a PEG ratio of 4.82 and a beta of 1.15. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $95.25.

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, beating the consensus estimate of $0.55 by $0.04. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. 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 Edwards Lifesciences news, 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 transaction, the chief executive officer now directly owns 59,083 shares in the company, 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 SEC, which is available through the SEC website. Also, VP Daniel J. Lippis sold 500 shares of Edwards Lifesciences stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $68.76, for a total transaction of $34,380.00. Following the sale, the vice president now owns 23,189 shares in the company, valued at approximately $1,594,475.64. The trade was a 2.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 62,853 shares of company stock valued at $4,534,247 over the last 90 days. 1.29% of the stock is currently owned by corporate 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.