Edwards Lifesciences Corporation $EW Stock Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lowered its holdings in Edwards Lifesciences Corporation (NYSE:EW) by 16.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 82,952 shares of the medical research company’s stock after selling 16,608 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Edwards Lifesciences were worth $7,160,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Edwards Lifesciences in the second quarter worth $5,318,092,000. Bank of New York Mellon Corp purchased a new stake in Edwards Lifesciences in the second quarter worth about $1,274,082,000. Bank of America Corp DE bought a new stake in Edwards Lifesciences during the 2nd quarter valued at approximately $605,397,000. Deutsche Bank AG bought a new position in shares of Edwards Lifesciences in the 2nd quarter worth approximately $516,552,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Edwards Lifesciences by 0.6% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,488,643 shares of the medical research company’s stock worth $496,503,000 after acquiring an additional 30,495 shares in the last quarter. 79.46% of the stock is currently owned by institutional investors.

Edwards Lifesciences News Summary

Here are the key news stories impacting Edwards Lifesciences this week:

• Positive Sentiment: Edwards reported Q3 sales growth of 11.2% to $1.72 billion, with adjusted earnings and revenue beating estimates. TMTT sales rose 45.6% and TAVR sales grew 8.8%; the company raised its sales outlook and set adjusted full-year EPS guidance of $2.97–$3.05. Edwards Q3 earnings call highlights
• Positive Sentiment: PROGRESS Trial results found TAVR outperformed active surveillance for at-risk patients with moderate aortic stenosis, including fewer combined death or heart-failure outcomes. The findings could support earlier use of the procedure and expand Edwards’ potential market. Trial data points to earlier TAVR use
• Positive Sentiment: Analysts lifted price targets following the results: UBS raised its target to $118 and JPMorgan to $120, while Piper Sandler reaffirmed its buy-equivalent rating with a $115 target. The latest target increases and reaffirmations add to bullish sentiment. UBS reaffirms buy rating Piper Sandler keeps buy rating
• Negative Sentiment: Management has acknowledged that more competition is coming in TAVR, a potential pressure on market share and future growth, although the recent results and trial data provide positive offsets. CEO comments on TAVR competition

Insider Activity at Edwards Lifesciences

In related news, VP Annette Brüls sold 2,644 shares of Edwards Lifesciences stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $89.98, for a total transaction of $237,907.12. Following the sale, the vice president owned 17,984 shares of the company’s stock, valued at approximately $1,618,200.32. This trade represents a 12.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Daniel J. Lippis sold 619 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $92.03, for a total transaction of $56,966.57. Following the sale, the vice president directly owned 40,034 shares of the company’s stock, valued at approximately $3,684,329.02. This trade represents a 1.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 5,045 shares of company stock worth $451,596. 0.31% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have commented on EW shares. Argus raised their price objective on Edwards Lifesciences from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, August 21st. Robert W. Baird upgraded Edwards Lifesciences from a “neutral” rating to an “outperform” rating and set a $116.00 price target on the stock in a research note on Thursday. JPMorgan Chase & Co. lifted their price objective on Edwards Lifesciences from $105.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday. Citigroup raised their price target on Edwards Lifesciences from $110.00 to $117.00 and gave the company a “buy” rating in a report on Thursday. Finally, BTIG Research lifted their target price on shares of Edwards Lifesciences from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday. Twenty-three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Edwards Lifesciences has a consensus rating of “Moderate Buy” and an average price target of $108.88.

Edwards Lifesciences Trading Down 0.2%

Shares of Edwards Lifesciences stock opened at $101.91 on Monday. Edwards Lifesciences Corporation has a 1-year low of $74.66 and a 1-year high of $104.17. The company’s fifty day simple moving average is $88.92 and its 200-day simple moving average is $85.78. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.60 and a quick ratio of 3.86. The stock has a market capitalization of $58.60 billion, a PE ratio of 57.58, a P/E/G ratio of 2.72 and a beta of 0.85.

Edwards Lifesciences (NYSE:EW) last released its earnings results on Wednesday, November 4th. The medical research company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.06. Edwards Lifesciences had a return on equity of 16.06% and a net margin of 15.30%. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the previous year, the business earned $0.67 earnings per share. Edwards Lifesciences’s quarterly revenue was up 10.5% compared to the same quarter last year. As a group, equities analysts anticipate that Edwards Lifesciences Corporation will post 3.02 earnings per share for the current year.

About Edwards Lifesciences

Edwards Lifesciences is a medical technology company focused on therapies for structural heart disease and critical care. Its products include transcatheter and surgical heart valves, as well as technologies used to monitor patients during intensive care and surgery.

The company traces its origins to 1958, when engineer Lowell Edwards and surgeon Albert Starr began developing an artificial heart valve. Their work led to the Starr-Edwards valve, introduced in 1960. Edwards Lifesciences is headquartered in Irvine, California, and serves clinicians and patients around the world.

Its structural heart portfolio includes transcatheter aortic valve replacement (TAVR) systems and therapies addressing mitral and tricuspid valve disease.