Mirae Asset Global Investments Co. Ltd. Boosts Holdings in Edwards Lifesciences Co. (NYSE:EW)

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 33.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 278,234 shares of the medical research company’s stock after purchasing an additional 69,740 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Edwards Lifesciences were worth $26,069,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EW. Great Lakes Advisors LLC boosted its stake in shares of Edwards Lifesciences by 22.4% in the second quarter. Great Lakes Advisors LLC now owns 40,139 shares of the medical research company’s stock worth $3,786,000 after acquiring an additional 7,341 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in Edwards Lifesciences during the 2nd quarter worth $114,104,000. Ascension Asset Management LLC purchased a new stake in shares of Edwards Lifesciences during the second quarter worth $1,679,000. Heron Financial Group LLC grew its holdings in shares of Edwards Lifesciences by 2.3% during the second quarter. Heron Financial Group LLC now owns 9,786 shares of the medical research company’s stock worth $923,000 after buying an additional 220 shares in the last quarter. Finally, Truvestments Capital LLC raised its position in shares of Edwards Lifesciences by 260.0% in the second quarter. Truvestments Capital LLC now owns 270 shares of the medical research company’s stock valued at $25,000 after buying an additional 195 shares during the last quarter. 79.25% of the stock is owned by hedge funds and other institutional investors.

Edwards Lifesciences Stock Performance

Shares of EW stock opened at $67.19 on Tuesday. Edwards Lifesciences Co. has a 1 year low of $60.57 and a 1 year high of $94.87. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.45 and a current ratio of 3.28. The firm has a market cap of $40.75 billion, a price-to-earnings ratio of 28.71, a PEG ratio of 3.74 and a beta of 1.02. The stock’s 50-day moving average is $68.93 and its two-hundred day moving average is $79.38.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Wednesday, October 25th. The medical research company reported $0.59 EPS for the quarter, hitting analysts’ consensus estimates of $0.59. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.48 billion. Edwards Lifesciences had a net margin of 24.59% and a return on equity of 24.54%. Edwards Lifesciences’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.61 EPS. Analysts predict that Edwards Lifesciences Co. will post 2.51 earnings per share for the current year.

Insider Transactions at Edwards Lifesciences

In related news, CFO Scott B. Ullem sold 7,255 shares of the business’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $62.66, for a total transaction of $454,598.30. Following the sale, the chief financial officer now owns 19,248 shares of the company’s stock, valued at $1,206,079.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Scott B. Ullem sold 7,255 shares of Edwards Lifesciences stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $62.66, for a total transaction of $454,598.30. Following the completion of the transaction, the chief financial officer now owns 19,248 shares of the company’s stock, valued at approximately $1,206,079.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael A. Mussallem sold 29,350 shares of the stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $75.86, for a total transaction of $2,226,491.00. Following the completion of the sale, the director now directly owns 4,486 shares in the company, valued at $340,307.96. The disclosure for this sale can be found here. In the last three months, insiders sold 179,795 shares of company stock valued at $12,724,914. Corporate insiders own 1.29% of the company’s stock.

Wall Street Analysts Forecast Growth

EW has been the subject of several research reports. Truist Financial dropped their price objective on shares of Edwards Lifesciences from $83.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, October 26th. StockNews.com lowered Edwards Lifesciences from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Citigroup cut their target price on Edwards Lifesciences from $94.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, October 26th. Oppenheimer upgraded shares of Edwards Lifesciences from a “market perform” rating to an “outperform” rating and set a $90.00 price objective for the company in a research report on Tuesday, September 26th. Finally, Piper Sandler dropped their price target on shares of Edwards Lifesciences from $83.00 to $68.00 and set a “neutral” rating for the company in a research note on Thursday, October 26th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $84.29.

Edwards Lifesciences Profile

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.