Jennison Associates LLC Raises Stock Holdings in Edwards Lifesciences Corporation $EW

Jennison Associates LLC grew its stake in Edwards Lifesciences Corporation (NYSE:EW) by 15.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,670,991 shares of the medical research company’s stock after acquiring an additional 1,584,958 shares during the quarter. Jennison Associates LLC owned about 1.99% of Edwards Lifesciences worth $912,788,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in EW. Quantbot Technologies LP purchased a new stake in shares of Edwards Lifesciences in the first quarter valued at $26,000. SouthState Corp purchased a new stake in shares of Edwards Lifesciences in the first quarter valued at $27,000. Rosenberg Matthew Hamilton acquired a new position in Edwards Lifesciences in the second quarter valued at $28,000. Rossby Financial LCC acquired a new position in Edwards Lifesciences in the first quarter valued at $29,000. Finally, Costello Asset Management INC acquired a new position in Edwards Lifesciences in the first quarter valued at $29,000. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Edwards Lifesciences

In other news, insider Larry L. Wood sold 8,950 shares of the company’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $78.06, for a total value of $698,637.00. Following the completion of the sale, the insider owned 206,900 shares of the company’s stock, valued at $16,150,614. This represents a 4.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.34% of the stock is owned by insiders.

Edwards Lifesciences Stock Performance

Shares of NYSE:EW opened at $82.26 on Wednesday. The firm has a market capitalization of $48.29 billion, a PE ratio of 11.84, a P/E/G ratio of 3.88 and a beta of 1.05. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.68 and a quick ratio of 3.87. The business has a 50-day moving average of $77.49 and a two-hundred day moving average of $76.65. Edwards Lifesciences Corporation has a 12 month low of $64.89 and a 12 month high of $83.25.

Analysts Set New Price Targets

EW has been the subject of several analyst reports. Morgan Stanley upped their target price on Edwards Lifesciences from $75.00 to $81.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 15th. Argus upgraded Edwards Lifesciences to a “strong-buy” rating in a research note on Thursday, July 10th. BTIG Research upgraded Edwards Lifesciences from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Tuesday, July 29th. Robert W. Baird upped their target price on Edwards Lifesciences from $78.00 to $79.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. Finally, Wall Street Zen lowered Edwards Lifesciences from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 29th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Edwards Lifesciences currently has a consensus rating of “Moderate Buy” and an average target price of $87.33.

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.