Principal Financial Group Inc. Has $53.95 Million Stock Position in Edwards Lifesciences Co. (NYSE:EW)

Principal Financial Group Inc. grew its holdings in Edwards Lifesciences Co. (NYSE:EW) by 2.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 817,516 shares of the medical research company’s stock after purchasing an additional 17,647 shares during the period. Principal Financial Group Inc. owned about 0.14% of Edwards Lifesciences worth $53,948,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. FSA Wealth Management LLC acquired a new stake in shares of Edwards Lifesciences in the 3rd quarter valued at approximately $30,000. Prospera Private Wealth LLC acquired a new stake in Edwards Lifesciences in the third quarter valued at $32,000. Avior Wealth Management LLC grew its position in shares of Edwards Lifesciences by 138.7% in the 3rd quarter. Avior Wealth Management LLC now owns 530 shares of the medical research company’s stock valued at $35,000 after acquiring an additional 308 shares during the period. HHM Wealth Advisors LLC acquired a new position in shares of Edwards Lifesciences during the 2nd quarter worth about $55,000. Finally, Peoples Bank KS acquired a new stake in Edwards Lifesciences in the 3rd quarter valued at about $40,000. Institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Price Performance

EW stock opened at $74.81 on Monday. The company’s 50-day moving average price is $70.06 and its two-hundred day moving average price is $73.52. The firm has a market cap of $44.12 billion, a P/E ratio of 10.80, a P/E/G ratio of 3.63 and a beta of 1.12. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06. Edwards Lifesciences Co. has a 12 month low of $58.93 and a 12 month high of $96.12.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Thursday, October 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.67. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same period last year, the firm posted $0.59 earnings per share. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, analysts anticipate that Edwards Lifesciences Co. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

EW has been the topic of a number of recent analyst reports. Piper Sandler lowered their price target on Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. JPMorgan Chase & Co. increased their price target on Edwards Lifesciences from $72.00 to $78.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Morgan Stanley reaffirmed an “equal weight” rating and set a $70.00 price objective on shares of Edwards Lifesciences in a research report on Friday, October 11th. Daiwa America lowered shares of Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, Sanford C. Bernstein raised shares of Edwards Lifesciences from a “strong sell” rating to a “hold” rating in a report on Monday, October 28th. Sixteen research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Edwards Lifesciences currently has a consensus rating of “Hold” and an average price target of $79.40.

Insider Transactions at Edwards Lifesciences

In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $65.57, for a total transaction of $327,850.00. Following the completion of the transaction, the vice president now directly owns 46,936 shares in the company, valued at approximately $3,077,593.52. This represents a 9.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Daniel J. Lippis sold 2,500 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $74.08, for a total value of $185,200.00. Following the sale, the vice president now directly owns 23,189 shares in the company, valued at approximately $1,717,841.12. This trade represents a 9.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,500 shares of company stock valued at $2,508,350. Corporate insiders own 1.29% of the company’s stock.

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.