Edwards Lifesciences Co. (NYSE:EW) Stake Lowered by Corebridge Financial Inc.

Corebridge Financial Inc. cut its stake in Edwards Lifesciences Co. (NYSE:EW) by 6.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 152,316 shares of the medical research company’s stock after selling 10,976 shares during the quarter. Corebridge Financial Inc.’s holdings in Edwards Lifesciences were worth $11,276,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of EW. Harbor Capital Advisors Inc. lifted its holdings in shares of Edwards Lifesciences by 2.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 11,135 shares of the medical research company’s stock valued at $824,000 after buying an additional 273 shares during the last quarter. Nordea Investment Management AB raised its position in Edwards Lifesciences by 34.6% during the fourth quarter. Nordea Investment Management AB now owns 4,057,013 shares of the medical research company’s stock valued at $301,355,000 after acquiring an additional 1,043,484 shares in the last quarter. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST lifted its stake in Edwards Lifesciences by 6.7% in the fourth quarter. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST now owns 4,800,000 shares of the medical research company’s stock valued at $355,344,000 after acquiring an additional 300,000 shares during the last quarter. Sivik Global Healthcare LLC bought a new stake in Edwards Lifesciences in the fourth quarter worth approximately $3,702,000. Finally, Avanza Fonder AB acquired a new position in shares of Edwards Lifesciences during the 4th quarter worth $4,845,000. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Edwards Lifesciences news, Director Steven R. Loranger sold 5,739 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $76.42, for a total transaction of $438,574.38. Following the sale, the director now owns 60,372 shares of the company’s stock, valued at $4,613,628.24. This represents a 8.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Daniel J. Lippis sold 500 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $68.76, for a total transaction of $34,380.00. Following the completion of the sale, the vice president now owns 23,189 shares of the company’s stock, valued at $1,594,475.64. The trade was a 2.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,303 shares of company stock worth $3,715,776 in the last quarter. 1.29% of the stock is owned by corporate insiders.

Edwards Lifesciences Stock Down 0.1 %

Shares of EW opened at $71.29 on Wednesday. Edwards Lifesciences Co. has a 12 month low of $58.93 and a 12 month high of $96.12. The stock has a market cap of $41.91 billion, a price-to-earnings ratio of 10.23, a P/E/G ratio of 4.82 and a beta of 1.12. The company has a 50-day moving average price of $71.43 and a two-hundred day moving average price of $70.45. 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 (NYSE:EW) last announced its quarterly earnings results on Tuesday, February 11th. The medical research company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.55 by $0.04. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. Equities analysts predict that Edwards Lifesciences Co. will post 2.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

EW has been the subject of a number of recent research reports. Citigroup upped their price objective on shares of Edwards Lifesciences from $81.00 to $83.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Stifel Nicolaus raised Edwards Lifesciences from a “hold” rating to a “buy” rating and increased their price objective for the company from $75.00 to $90.00 in a report on Thursday, January 30th. Royal Bank of Canada restated an “outperform” rating and issued a $85.00 target price on shares of Edwards Lifesciences in a report on Wednesday, February 12th. Barclays increased their price target on Edwards Lifesciences from $88.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Finally, Evercore ISI reduced their price objective on shares of Edwards Lifesciences from $75.00 to $73.00 and set an “in-line” rating for the company in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $79.95.

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.