Primecap Management Co. CA Grows Stock Holdings in Edwards Lifesciences Co. (NYSE:EW)

Primecap Management Co. CA lifted its position in Edwards Lifesciences Co. (NYSE:EW) by 14.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,043,500 shares of the medical research company’s stock after buying an additional 258,800 shares during the period. Primecap Management Co. CA owned approximately 0.35% of Edwards Lifesciences worth $151,280,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Edwards Lifesciences in the fourth quarter worth $30,000. FSA Wealth Management LLC acquired a new stake in shares of Edwards Lifesciences in the 3rd quarter worth $30,000. Prospera Private Wealth LLC purchased a new position in Edwards Lifesciences during the 3rd quarter worth $32,000. Avior Wealth Management LLC grew its stake in Edwards Lifesciences by 138.7% during the 3rd quarter. Avior Wealth Management LLC now owns 530 shares of the medical research company’s stock worth $35,000 after buying an additional 308 shares during the last quarter. Finally, Roble Belko & Company Inc purchased a new stake in Edwards Lifesciences in the fourth quarter valued at about $46,000. Institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Stock Down 0.5 %

EW opened at $70.31 on Wednesday. The company has a fifty day moving average of $71.61 and a two-hundred day moving average of $70.35. The stock has a market capitalization of $41.33 billion, a price-to-earnings ratio of 10.09, a PEG ratio of 4.82 and a beta of 1.12. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $96.12. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Tuesday, February 11th. The medical research company reported $0.59 earnings per share 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%. On average, research analysts expect that Edwards Lifesciences Co. will post 2.45 earnings per share for the current year.

Insider Activity

In related news, VP Donald E. Bobo, Jr. sold 9,500 shares of Edwards Lifesciences stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $67.96, for a total value of $645,620.00. Following the sale, the vice president now directly owns 46,936 shares in the company, valued at approximately $3,189,770.56. The trade was a 16.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Scott B. Ullem sold 11,250 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $75.76, for a total value of $852,300.00. Following the transaction, the chief financial officer now directly owns 30,561 shares of the company’s stock, valued at $2,315,301.36. The trade was a 26.91 % 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 over the last three months. 1.29% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Barclays boosted their price target on Edwards Lifesciences from $88.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Canaccord Genuity Group upped their price target on shares of Edwards Lifesciences from $68.00 to $71.00 and gave the company a “hold” rating in a research note on Thursday, February 13th. Evercore ISI decreased their price target on shares of Edwards Lifesciences from $75.00 to $73.00 and set an “in-line” rating for the company in a report on Wednesday, February 12th. The Goldman Sachs Group boosted their price objective on shares of Edwards Lifesciences from $81.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, Truist Financial restated a “hold” rating and issued a $78.00 target price (up previously from $70.00) on shares of Edwards Lifesciences in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average 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.