Edwards Lifesciences Corporation $EW Holdings Decreased by PKO Investment Management Joint Stock Co

PKO Investment Management Joint Stock Co reduced its stake in shares of Edwards Lifesciences Corporation (NYSE:EW) by 41.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,000 shares of the medical research company’s stock after selling 7,000 shares during the quarter. PKO Investment Management Joint Stock Co’s holdings in Edwards Lifesciences were worth $782,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC raised its position in Edwards Lifesciences by 0.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 30,195 shares of the medical research company’s stock worth $2,170,000 after acquiring an additional 145 shares in the last quarter. Pacific Capital Partners Ltd purchased a new position in Edwards Lifesciences in the 2nd quarter worth about $1,760,000. Czech National Bank increased its stake in Edwards Lifesciences by 5.8% in the 2nd quarter. Czech National Bank now owns 143,385 shares of the medical research company’s stock worth $11,214,000 after purchasing an additional 7,917 shares in the last quarter. Mirova US LLC increased its stake in Edwards Lifesciences by 56.2% in the 2nd quarter. Mirova US LLC now owns 2,931,297 shares of the medical research company’s stock worth $229,257,000 after purchasing an additional 1,054,301 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Edwards Lifesciences by 111.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 163,202 shares of the medical research company’s stock worth $12,532,000 after purchasing an additional 86,186 shares in the last quarter. 79.46% of the stock is currently owned by institutional investors.

Edwards Lifesciences Trading Down 0.5%

Shares of NYSE EW opened at $76.15 on Friday. The stock has a market cap of $44.70 billion, a price-to-earnings ratio of 10.96, a PEG ratio of 3.67 and a beta of 1.05. The business has a 50 day simple moving average of $77.37 and a 200 day simple moving average of $76.37. Edwards Lifesciences Corporation has a 52 week low of $64.89 and a 52 week high of $83.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.87 and a current ratio of 4.68.

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on EW. Barclays lifted their price target on Edwards Lifesciences from $90.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, July 25th. Weiss Ratings reissued a “hold (c)” rating on shares of Edwards Lifesciences in a research note on Friday. Piper Sandler lifted their price target on Edwards Lifesciences from $83.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, July 25th. Deutsche Bank Aktiengesellschaft lifted their price target on Edwards Lifesciences from $85.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Finally, Wells Fargo & Company lifted their target price on Edwards Lifesciences from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Three research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $87.06.

Insider Buying and Selling

In other news, VP Daniel J. Lippis sold 4,114 shares of the company’s stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $79.46, for a total transaction of $326,898.44. Following the completion of the transaction, the vice president directly owned 22,002 shares in the company, valued at $1,748,278.92. The trade was a 15.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Larry L. Wood sold 8,950 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $78.06, for a total value of $698,637.00. Following the sale, the insider owned 206,900 shares in the company, valued at approximately $16,150,614. This represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.29% of the stock is owned by insiders.

Edwards Lifesciences Company Profile

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.