DnB Asset Management AS Buys 11,348 Shares of Edwards Lifesciences Co. (NYSE:EW)

DnB Asset Management AS grew its stake in Edwards Lifesciences Co. (NYSE:EW) by 3.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 327,924 shares of the medical research company’s stock after acquiring an additional 11,348 shares during the quarter. DnB Asset Management AS owned 0.06% of Edwards Lifesciences worth $24,276,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Crowley Wealth Management Inc. purchased a new stake in Edwards Lifesciences during the 4th quarter valued at about $26,000. Millstone Evans Group LLC purchased a new stake in shares of Edwards Lifesciences during the fourth quarter valued at approximately $29,000. FSA Wealth Management LLC bought a new stake in shares of Edwards Lifesciences during the third quarter valued at approximately $30,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Edwards Lifesciences in the 4th quarter worth approximately $30,000. Finally, Roble Belko & Company Inc bought a new position in Edwards Lifesciences in the 4th quarter valued at approximately $46,000. 79.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on EW. Truist Financial reiterated a “hold” rating and issued a $78.00 price objective (up from $70.00) on shares of Edwards Lifesciences in a report on Thursday, December 5th. Wolfe Research cut shares of Edwards Lifesciences from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 12th. Royal Bank of Canada restated an “outperform” rating and issued a $85.00 price objective on shares of Edwards Lifesciences in a research note on Wednesday, February 12th. The Goldman Sachs Group lifted their target price on Edwards Lifesciences from $81.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Finally, Canaccord Genuity Group upped their price target on Edwards Lifesciences from $68.00 to $71.00 and gave the stock a “hold” rating in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $79.95.

Insider Buying and Selling

In other Edwards Lifesciences news, CEO Bernard J. Zovighian sold 6,164 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $69.51, for a total value of $428,459.64. Following the transaction, the chief executive officer now owns 59,083 shares of the company’s stock, valued at $4,106,859.33. This represents a 9.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Scott B. Ullem sold 11,250 shares of Edwards Lifesciences stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $70.87, for a total value of $797,287.50. Following the sale, the chief financial officer now owns 30,387 shares of the company’s stock, valued at approximately $2,153,526.69. This trade represents a 27.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 62,553 shares of company stock worth $4,513,064 over the last three months. 1.29% of the stock is owned by insiders.

Edwards Lifesciences Stock Performance

NYSE:EW opened at $70.90 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89. The company has a market cap of $41.68 billion, a price-to-earnings ratio of 10.17, a PEG ratio of 4.82 and a beta of 1.12. Edwards Lifesciences Co. has a 1 year low of $58.93 and a 1 year high of $95.73. The stock’s 50 day simple moving average is $71.49 and its two-hundred day simple moving average is $70.49.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Tuesday, February 11th. The medical research company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. As a group, equities analysts anticipate that Edwards Lifesciences Co. will post 2.45 earnings per share for the current fiscal year.

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.