Edwards Lifesciences Co. (NYSE:EW) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lessened its holdings in shares of Edwards Lifesciences Co. (NYSE:EWFree Report) by 5.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 45,987 shares of the medical research company’s stock after selling 2,616 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Edwards Lifesciences were worth $4,338,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Alliancebernstein L.P. boosted its position in shares of Edwards Lifesciences by 27.5% during the 4th quarter. Alliancebernstein L.P. now owns 21,874,280 shares of the medical research company’s stock valued at $1,632,040,000 after acquiring an additional 4,712,819 shares during the last quarter. Wellington Management Group LLP raised its holdings in Edwards Lifesciences by 3.8% in the 1st quarter. Wellington Management Group LLP now owns 15,850,055 shares of the medical research company’s stock valued at $1,311,275,000 after buying an additional 578,319 shares during the period. Moneta Group Investment Advisors LLC raised its holdings in Edwards Lifesciences by 104,971.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 15,399,249 shares of the medical research company’s stock valued at $1,148,938,000 after buying an additional 15,384,593 shares during the period. Brown Advisory Inc. raised its holdings in Edwards Lifesciences by 0.8% in the 4th quarter. Brown Advisory Inc. now owns 14,341,102 shares of the medical research company’s stock valued at $1,069,990,000 after buying an additional 115,268 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Edwards Lifesciences by 0.6% in the 1st quarter. Geode Capital Management LLC now owns 12,214,619 shares of the medical research company’s stock valued at $1,008,114,000 after buying an additional 78,376 shares during the period. Institutional investors and hedge funds own 79.25% of the company’s stock.

Edwards Lifesciences Stock Performance

Shares of EW opened at $72.94 on Tuesday. The stock has a 50 day moving average price of $81.38 and a 200 day moving average price of $83.98. The company has a quick ratio of 2.30, a current ratio of 3.15 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $44.34 billion, a price-to-earnings ratio of 32.27, a price-to-earnings-growth ratio of 4.00 and a beta of 1.03. Edwards Lifesciences Co. has a 52-week low of $67.13 and a 52-week high of $94.87.

Edwards Lifesciences (NYSE:EWGet Free Report) last announced its quarterly earnings results on Wednesday, July 26th. The medical research company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.51 billion. Edwards Lifesciences had a return on equity of 25.43% and a net margin of 24.56%. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.63 earnings per share. Research analysts predict that Edwards Lifesciences Co. will post 2.55 EPS for the current fiscal year.

Insider Activity

In other news, Director Michael A. Mussallem sold 29,350 shares of the stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $90.78, for a total value of $2,664,393.00. Following the completion of the sale, the director now directly owns 54,252 shares of the company’s stock, valued at $4,924,996.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Daveen Chopra sold 1,500 shares of the stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $76.69, for a total value of $115,035.00. Following the completion of the sale, the vice president now directly owns 23,950 shares of the company’s stock, valued at $1,836,725.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael A. Mussallem sold 29,350 shares of the stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $90.78, for a total value of $2,664,393.00. Following the completion of the sale, the director now directly owns 54,252 shares of the company’s stock, valued at $4,924,996.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 174,359 shares of company stock valued at $14,301,522. 1.29% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EW. 58.com restated a “reiterates” rating on shares of Edwards Lifesciences in a report on Tuesday, June 27th. Truist Financial boosted their price objective on shares of Edwards Lifesciences from $101.00 to $105.00 in a report on Wednesday, July 19th. Mizuho boosted their price objective on shares of Edwards Lifesciences from $95.00 to $102.00 in a report on Monday, July 17th. Citigroup boosted their price target on shares of Edwards Lifesciences from $101.00 to $110.00 in a research note on Monday, July 10th. Finally, Robert W. Baird assumed coverage on shares of Edwards Lifesciences in a research note on Tuesday, July 18th. They set an “outperform” rating and a $107.00 price target on the stock. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $92.42.

Check Out Our Latest Report on Edwards Lifesciences

Edwards Lifesciences Profile

(Free Report)

Edwards Lifesciences Corporation provides products and technologies for structural heart disease, and critical care and surgical monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of heart valves; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases.

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Institutional Ownership by Quarter for Edwards Lifesciences (NYSE:EW)

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