Edwards Lifesciences Corporation $EW Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of Edwards Lifesciences Corporation (NYSE:EW) by 3.1% during the third quarter, HoldingsChannel.com reports. The firm owned 1,220,221 shares of the medical research company’s stock after selling 38,737 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Edwards Lifesciences were worth $105,329,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in Edwards Lifesciences in the second quarter worth about $5,318,092,000. Varma Mutual Pension Insurance Co acquired a new position in shares of Edwards Lifesciences during the second quarter valued at about $11,168,000. Conway Capital Management Inc. acquired a new position in shares of Edwards Lifesciences during the second quarter valued at about $954,000. Commerce Bank acquired a new position in shares of Edwards Lifesciences during the second quarter valued at about $3,121,000. Finally, Bank of America Corp DE purchased a new position in shares of Edwards Lifesciences in the 2nd quarter valued at approximately $605,397,000. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences News Summary

Here are the key news stories impacting Edwards Lifesciences this week:

• Positive Sentiment: The PROGRESS trial found Edwards’ transcatheter aortic valve replacement (TAVR) was superior to clinical surveillance in moderate aortic stenosis patients with at-risk features, reducing the two-year composite of death or heart-failure events. The results support using TAVR earlier in the disease course and could expand the addressable patient population beyond severe aortic stenosis. PROGRESS Trial results
• Positive Sentiment: The CLASP II TR trial showed Edwards’ PASCAL system for tricuspid repair outperformed medical therapy alone on its six-month primary endpoint. The system also produced significant and sustained reductions in tricuspid regurgitation and improvements in patients’ quality of life through one year, strengthening the case for Edwards’ transcatheter tricuspid-repair franchise. CLASP II TR trial results
• Positive Sentiment: Bank of America analyst Travis Steed revisited Edwards following the PROGRESS data, highlighting the trial’s potential to support TAVR expansion in selected moderate aortic stenosis patients. Analyst attention reinforces the potential commercial significance of the results. Bank of America analyst coverage
• Neutral Sentiment: The longer-term stock impact will depend on regulatory decisions, guideline changes, reimbursement and physician adoption. The trial results are encouraging, but expanded indications would require additional execution before translating into revenue.

Analyst Upgrades and Downgrades

A number of research firms recently commented on EW. JPMorgan Chase & Co. lifted their target price on shares of Edwards Lifesciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday, October 2nd. BTIG Research reissued a “buy” rating and set a $110.00 target price on shares of Edwards Lifesciences in a research report on Friday, September 11th. The Goldman Sachs Group upped their price target on shares of Edwards Lifesciences from $98.00 to $102.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Leerink Partners raised shares of Edwards Lifesciences from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $87.00 to $101.00 in a report on Friday, July 24th. Finally, Barclays upgraded shares of Edwards Lifesciences to a “strong-buy” rating in a research note on Wednesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Edwards Lifesciences currently has an average rating of “Moderate Buy” and an average price target of $101.16.

Edwards Lifesciences Price Performance

Shares of NYSE:EW opened at $93.38 on Tuesday. Edwards Lifesciences Corporation has a twelve month low of $74.66 and a twelve month high of $96.29. The company’s 50 day moving average is $88.22 and its 200 day moving average is $85.47. The company has a current ratio of 4.52, a quick ratio of 3.77 and a debt-to-equity ratio of 0.06. The company has a market cap of $53.77 billion, a PE ratio of 32.66, a price-to-earnings-growth ratio of 2.40 and a beta of 0.87.

Insider Activity

In other news, VP Annette Brüls sold 2,644 shares of the company’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $89.98, for a total value of $237,907.12. Following the sale, the vice president directly owned 17,984 shares of the company’s stock, valued at $1,618,200.32. This represents a 12.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Andrew M. Dahl sold 544 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $91.06, for a total transaction of $49,536.64. Following the completion of the sale, the senior vice president owned 14,868 shares in the company, valued at $1,353,880.08. The trade was a 3.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 5,045 shares of company stock valued at $451,596 in the last ninety days. Insiders own 0.31% of the company’s stock.

Edwards Lifesciences Company Profile

Edwards Lifesciences Corporation (NYSE:EW) is a medical technology company focused on therapies for structural heart disease and critical care. The company develops and manufactures products designed to treat conditions affecting the heart’s valves, including aortic, mitral and tricuspid valve disorders.

Its portfolio includes transcatheter aortic valve replacement systems, transcatheter mitral and tricuspid therapies, surgical heart valves and valve-repair technologies. Edwards also provides related delivery systems and other medical devices used by physicians in minimally invasive and open-heart procedures.

Founded in 1958 by Miles Lowell Edwards, the company is headquartered in Irvine, California, and serves healthcare providers and patients internationally.