UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Edwards Lifesciences Corporation (NYSE:EW – Free Report) by 0.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,488,643 shares of the medical research company’s stock after purchasing an additional 30,495 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Edwards Lifesciences were worth $496,503,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in EW. BlackRock Inc. acquired a new position in Edwards Lifesciences during the 2nd quarter worth approximately $5,318,092,000. Bank of New York Mellon Corp acquired a new stake in shares of Edwards Lifesciences in the 2nd quarter valued at approximately $1,274,082,000. Norges Bank purchased a new stake in shares of Edwards Lifesciences in the fourth quarter valued at approximately $803,686,000. Bank of America Corp DE purchased a new stake in shares of Edwards Lifesciences in the second quarter valued at approximately $605,397,000. Finally, Deutsche Bank AG purchased a new position in Edwards Lifesciences in the second quarter worth $516,552,000. Institutional investors and hedge funds own 79.46% of the company’s stock.
Edwards Lifesciences Trading Down 0.0%
Shares of EW stock opened at $90.19 on Monday. The stock has a market cap of $51.93 billion, a P/E ratio of 51.83, a P/E/G ratio of 2.37 and a beta of 0.85. The company has a quick ratio of 3.77, a current ratio of 4.52 and a debt-to-equity ratio of 0.06. Edwards Lifesciences Corporation has a fifty-two week low of $72.30 and a fifty-two week high of $96.29. The business has a fifty day simple moving average of $89.54 and a 200-day simple moving average of $85.08.
Analysts Set New Price Targets
EW has been the topic of a number of recent analyst reports. Royal Bank Of Canada upped their price target on shares of Edwards Lifesciences from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Piper Sandler reiterated an “overweight” rating and issued a $101.00 price objective (up from $100.00) on shares of Edwards Lifesciences in a research note on Friday, July 24th. Evercore reissued an “outperform” rating and set a $100.00 price objective on shares of Edwards Lifesciences in a report on Monday, July 6th. UBS Group initiated coverage on shares of Edwards Lifesciences in a report on Tuesday, July 28th. They issued a “buy” rating and a $110.00 target price for the company. Finally, Mizuho lifted their price target on shares of Edwards Lifesciences from $100.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. Seventeen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $100.27.
Get Our Latest Stock Analysis on EW
Insider Activity
In related news, VP Daniel J. Lippis sold 619 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $92.03, for a total value of $56,966.57. Following the sale, the vice president owned 40,034 shares of the company’s stock, valued at approximately $3,684,329.02. This represents a 1.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Annette Bruls sold 2,644 shares of the stock in a transaction on Friday, August 28th. The shares were sold at an average price of $89.98, for a total value of $237,907.12. Following the sale, the vice president owned 17,984 shares in the company, valued at approximately $1,618,200.32. This trade represents a 12.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 4,501 shares of company stock worth $408,213 in the last ninety days. Insiders own 0.31% of the company’s stock.
Edwards Lifesciences Profile
Edwards Lifesciences is a medical technology company focused on products and therapies for structural heart disease and critical care monitoring. The company designs, develops and manufactures prosthetic heart valves and related delivery systems used in both surgical and minimally invasive (transcatheter) procedures. Its portfolio addresses a range of valvular conditions, with an emphasis on technologies that enable transcatheter aortic valve replacement (TAVR) as an alternative to open-heart surgery.
In addition to transcatheter heart valves—including the widely recognized SAPIEN family—Edwards offers surgical tissue valves and ancillary devices used by cardiac surgeons, interventional cardiologists and hospital teams.
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