Trust Asset Management LLC Has $495,000 Stock Position in Edwards Lifesciences Corporation (NYSE:EW)

Trust Asset Management LLC decreased its position in Edwards Lifesciences Corporation (NYSE:EW) by 5.2% in the 1st quarter, HoldingsChannel reports. The fund owned 6,825 shares of the medical research company’s stock after selling 372 shares during the period. Trust Asset Management LLC’s holdings in Edwards Lifesciences were worth $495,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board raised its holdings in shares of Edwards Lifesciences by 11.0% in the 1st quarter. Public Sector Pension Investment Board now owns 80,672 shares of the medical research company’s stock worth $5,847,000 after buying an additional 7,998 shares in the last quarter. SouthState Corp acquired a new position in shares of Edwards Lifesciences in the 1st quarter worth approximately $27,000. Nuveen LLC acquired a new position in shares of Edwards Lifesciences in the 1st quarter worth approximately $330,881,000. Aigen Investment Management LP acquired a new position in shares of Edwards Lifesciences in the 1st quarter worth approximately $1,746,000. Finally, Invesco Ltd. raised its holdings in shares of Edwards Lifesciences by 2.6% in the 1st quarter. Invesco Ltd. now owns 4,287,712 shares of the medical research company’s stock worth $310,773,000 after buying an additional 107,241 shares in the last quarter. Institutional investors and hedge funds own 79.46% of the company’s stock.

Edwards Lifesciences Stock Down 0.2%

Shares of EW opened at $78.23 on Tuesday. The firm has a market capitalization of $45.93 billion, a price-to-earnings ratio of 11.26, a PEG ratio of 3.78 and a beta of 1.08. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.87 and a current ratio of 4.68. The business’s fifty day moving average price is $77.12 and its two-hundred day moving average price is $74.24. Edwards Lifesciences Corporation has a 52 week low of $64.00 and a 52 week high of $83.00.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Thursday, July 24th. The medical research company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.05. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.49 billion. Edwards Lifesciences had a return on equity of 15.01% and a net margin of 72.96%. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period last year, the company earned $0.70 EPS. On average, analysts predict that Edwards Lifesciences Corporation will post 2.45 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft increased their target price on Edwards Lifesciences from $85.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Wall Street Zen raised Edwards Lifesciences from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Truist Financial increased their target price on Edwards Lifesciences from $81.00 to $82.00 and gave the stock a “hold” rating in a report on Friday, July 25th. Daiwa America upgraded Edwards Lifesciences from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 29th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Edwards Lifesciences in a research report on Friday, July 25th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $85.90.

Insider Transactions at Edwards Lifesciences

In other news, VP Donald E. Bobo, Jr. sold 2,570 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $77.40, for a total value of $198,918.00. Following the transaction, the vice president owned 50,356 shares of the company’s stock, valued at $3,897,554.40. This represents a 4.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Daniel J. Lippis sold 4,114 shares of the stock in a transaction on Monday, July 28th. The shares were sold at an average price of $79.46, for a total value of $326,898.44. Following the completion of the transaction, the vice president directly owned 22,002 shares in the company, valued at approximately $1,748,278.92. This trade represents a 15.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,134 shares of company stock valued at $1,311,745 over the last 90 days. 0.34% 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.