Sumitomo Mitsui Trust Group Inc. Grows Stock Position in Edwards Lifesciences Co. (NYSE:EW)

Sumitomo Mitsui Trust Group Inc. grew its position in Edwards Lifesciences Co. (NYSE:EW) by 0.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,365,272 shares of the medical research company’s stock after acquiring an additional 1,070 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Edwards Lifesciences were worth $90,094,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. GSA Capital Partners LLP purchased a new position in Edwards Lifesciences during the third quarter worth approximately $481,000. Entropy Technologies LP purchased a new stake in Edwards Lifesciences in the third quarter valued at $2,069,000. Versor Investments LP raised its position in Edwards Lifesciences by 102.5% in the third quarter. Versor Investments LP now owns 4,455 shares of the medical research company’s stock valued at $294,000 after purchasing an additional 2,255 shares during the period. Addison Advisors LLC raised its position in Edwards Lifesciences by 915.1% in the third quarter. Addison Advisors LLC now owns 18,038 shares of the medical research company’s stock valued at $1,190,000 after purchasing an additional 16,261 shares during the period. Finally, Patten & Patten Inc. TN raised its position in Edwards Lifesciences by 7.5% in the third quarter. Patten & Patten Inc. TN now owns 164,904 shares of the medical research company’s stock valued at $10,882,000 after purchasing an additional 11,512 shares during the period. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Insider Transactions at Edwards Lifesciences

In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $66.77, for a total transaction of $333,850.00. Following the completion of the transaction, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,133,916.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, VP Daveen Chopra sold 1,250 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total value of $87,437.50. Following the completion of the sale, the vice president now directly owns 29,333 shares of the company’s stock, valued at approximately $2,051,843.35. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $66.77, for a total value of $333,850.00. Following the completion of the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at $3,133,916.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,250 shares of company stock valued at $2,744,438. 1.29% of the stock is currently owned by corporate insiders.

Edwards Lifesciences Trading Up 1.1 %

EW opened at $66.52 on Thursday. Edwards Lifesciences Co. has a 12 month low of $58.93 and a 12 month high of $96.12. The stock has a market capitalization of $39.23 billion, a price-to-earnings ratio of 9.60, a PEG ratio of 3.70 and a beta of 1.12. 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 business has a fifty day moving average price of $67.47 and a 200 day moving average price of $76.51.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Thursday, October 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.67. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.59 EPS. Sell-side analysts expect that Edwards Lifesciences Co. will post 2.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

EW has been the topic of a number of research analyst reports. Piper Sandler reduced their target price on Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Daiwa Capital Markets upgraded Edwards Lifesciences from a “neutral” rating to an “outperform” rating in a research report on Wednesday, July 31st. Sanford C. Bernstein raised Edwards Lifesciences from a “strong sell” rating to a “hold” rating in a research note on Monday, October 28th. Wolfe Research raised Edwards Lifesciences from an “underperform” rating to a “peer perform” rating in a research note on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Edwards Lifesciences from $103.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Seventeen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $75.67.

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.