Sumitomo Mitsui Trust Group Inc. Buys 17,937 Shares of Edwards Lifesciences Corporation $EW

Sumitomo Mitsui Trust Group Inc. grew its stake in Edwards Lifesciences Corporation (NYSE:EW) by 1.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,375,336 shares of the medical research company’s stock after acquiring an additional 17,937 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Edwards Lifesciences were worth $107,565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Quantbot Technologies LP acquired a new position in Edwards Lifesciences in the 1st quarter valued at about $26,000. SouthState Corp acquired a new stake in Edwards Lifesciences during the first quarter worth approximately $27,000. Rosenberg Matthew Hamilton bought a new stake in shares of Edwards Lifesciences during the second quarter worth approximately $28,000. Tradewinds Capital Management LLC grew its position in shares of Edwards Lifesciences by 102.5% in the first quarter. Tradewinds Capital Management LLC now owns 405 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 205 shares during the last quarter. Finally, Rossby Financial LCC acquired a new position in shares of Edwards Lifesciences in the first quarter valued at approximately $29,000. Institutional investors and hedge funds own 79.46% of the company’s stock.

Insider Buying and Selling

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

Edwards Lifesciences Trading Down 0.5%

EW opened at $76.15 on Friday. The stock has a market capitalization of $44.70 billion, a price-to-earnings ratio of 10.96, a P/E/G ratio of 3.65 and a beta of 1.05. The company has a quick ratio of 3.87, a current ratio of 4.68 and a debt-to-equity ratio of 0.06. Edwards Lifesciences Corporation has a twelve month low of $64.89 and a twelve month high of $83.00. The company has a 50-day simple moving average of $77.37 and a 200 day simple moving average of $76.43.

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Evercore ISI set a $88.00 price target on Edwards Lifesciences and gave the stock an “outperform” rating in a report on Tuesday, October 7th. Barclays lifted their target price on Edwards Lifesciences from $90.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, July 25th. Weiss Ratings restated a “hold (c)” rating on shares of Edwards Lifesciences in a research note on Friday. Oppenheimer lowered shares of Edwards Lifesciences from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 8th. Finally, Daiwa America raised shares of Edwards Lifesciences from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 29th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $87.06.

About Edwards Lifesciences

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.