Truist Financial Corp Has $7.04 Million Stock Holdings in Edwards Lifesciences Co. (NYSE:EW)

Truist Financial Corp cut its position in Edwards Lifesciences Co. (NYSE:EW) by 35.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,363 shares of the medical research company’s stock after selling 49,788 shares during the period. Truist Financial Corp’s holdings in Edwards Lifesciences were worth $7,043,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. AustralianSuper Pty Ltd acquired a new position in Edwards Lifesciences during the 4th quarter valued at about $168,519,000. Nordea Investment Management AB boosted its stake in Edwards Lifesciences by 1,224.1% during the 4th quarter. Nordea Investment Management AB now owns 1,610,412 shares of the medical research company’s stock valued at $123,261,000 after purchasing an additional 1,488,791 shares during the last quarter. Wellington Management Group LLP boosted its stake in Edwards Lifesciences by 9.2% during the 3rd quarter. Wellington Management Group LLP now owns 16,434,401 shares of the medical research company’s stock valued at $1,138,575,000 after purchasing an additional 1,390,427 shares during the last quarter. FMR LLC boosted its stake in Edwards Lifesciences by 61.1% during the 3rd quarter. FMR LLC now owns 3,111,385 shares of the medical research company’s stock valued at $215,557,000 after purchasing an additional 1,179,637 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new position in Edwards Lifesciences during the 3rd quarter valued at about $60,971,000. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Morgan Stanley lifted their price target on Edwards Lifesciences from $95.00 to $103.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. OTR Global upgraded Edwards Lifesciences from a “mixed” rating to a “positive” rating in a report on Tuesday, March 26th. Royal Bank of Canada upped their price objective on Edwards Lifesciences from $95.00 to $101.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Wells Fargo & Company lifted their target price on Edwards Lifesciences from $94.00 to $99.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Finally, StockNews.com upgraded shares of Edwards Lifesciences from a “hold” rating to a “buy” rating in a research report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Edwards Lifesciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.71.

Edwards Lifesciences Price Performance

Shares of NYSE EW opened at $85.24 on Friday. The stock has a fifty day moving average of $90.13 and a 200-day moving average of $79.23. The stock has a market cap of $51.37 billion, a PE ratio of 36.74, a price-to-earnings-growth ratio of 3.55 and a beta of 1.10. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.67 and a current ratio of 3.75. Edwards Lifesciences Co. has a fifty-two week low of $60.57 and a fifty-two week high of $96.12.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Thursday, April 25th. The medical research company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.02. Edwards Lifesciences had a return on equity of 22.86% and a net margin of 23.01%. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Equities research analysts anticipate that Edwards Lifesciences Co. will post 2.77 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Michael A. Mussallem sold 29,350 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $84.77, for a total value of $2,487,999.50. Following the transaction, the director now owns 4,486 shares of the company’s stock, valued at $380,278.22. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Heisz Leslie Stone sold 7,056 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $86.45, for a total value of $609,991.20. Following the transaction, the director now owns 26,980 shares of the company’s stock, valued at $2,332,421. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Michael A. Mussallem sold 29,350 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $84.77, for a total transaction of $2,487,999.50. Following the completion of the transaction, the director now directly owns 4,486 shares in the company, valued at approximately $380,278.22. The disclosure for this sale can be found here. Insiders have sold 237,749 shares of company stock worth $20,920,934 in the last three months. 1.29% of the stock is currently owned by corporate insiders.

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.