Edwards Lifesciences Corporation $EW Stock Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its holdings in shares of Edwards Lifesciences Corporation (NYSE:EW) by 2.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 322,228 shares of the medical research company’s stock after selling 8,643 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Edwards Lifesciences were worth $27,815,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of EW. BlackRock Inc. purchased a new stake in Edwards Lifesciences during the second quarter worth $5,318,092,000. Varma Mutual Pension Insurance Co purchased a new position in shares of Edwards Lifesciences in the 2nd quarter valued at $11,168,000. Assenagon Asset Management S.A. increased its holdings in shares of Edwards Lifesciences by 50.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,719,271 shares of the medical research company’s stock valued at $234,727,000 after acquiring an additional 906,345 shares during the period. Conway Capital Management Inc. purchased a new position in shares of Edwards Lifesciences in the 2nd quarter valued at $954,000. Finally, Commerce Bank bought a new position in shares of Edwards Lifesciences in the 2nd quarter worth $3,121,000. 79.46% of the stock is owned by hedge funds and other institutional investors.

Edwards Lifesciences Price Performance

Shares of EW opened at $105.98 on Thursday. The company has a market cap of $60.94 billion, a price-to-earnings ratio of 35.38, a price-to-earnings-growth ratio of 2.78 and a beta of 0.85. Edwards Lifesciences Corporation has a twelve month low of $74.66 and a twelve month high of $106.05. The company has a quick ratio of 3.86, a current ratio of 4.60 and a debt-to-equity ratio of 0.05. The company has a 50 day moving average of $89.77 and a two-hundred day moving average of $86.09.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Wednesday, November 4th. The medical research company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.06. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.68 billion. Edwards Lifesciences had a net margin of 15.30% and a return on equity of 16.06%. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.67 earnings per share. As a group, analysts predict that Edwards Lifesciences Corporation will post 3.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Daniel Lippis sold 619 shares of the firm’s stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $104.25, for a total value of $64,530.75. Following the completion of the sale, the vice president owned 40,034 shares of the company’s stock, valued at $4,173,544.50. This trade represents a 1.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Andrew M. Dahl sold 544 shares of the business’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $91.06, for a total value of $49,536.64. Following the transaction, the senior vice president owned 14,868 shares in the company, valued at approximately $1,353,880.08. This trade represents a 3.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 53,945 shares of company stock worth $5,498,306. 0.31% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. BTIG Research upped their price objective on Edwards Lifesciences from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, November 5th. Truist Financial set a $113.00 price objective on Edwards Lifesciences and gave the company a “buy” rating in a research report on Wednesday, November 4th. Barclays lifted their target price on Edwards Lifesciences from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, November 5th. JPMorgan Chase & Co. boosted their target price on shares of Edwards Lifesciences from $105.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, November 5th. Finally, Leerink Partners boosted their target price on shares of Edwards Lifesciences from $101.00 to $112.00 and gave the stock an “outperform” rating in a report on Thursday, November 5th. Twenty-three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $109.56.

About Edwards Lifesciences

Edwards Lifesciences is a medical technology company focused on therapies for structural heart disease and critical care. Its products include transcatheter and surgical heart valves, as well as technologies used to monitor patients during intensive care and surgery. The company traces its origins to 1958, when engineer Lowell Edwards and surgeon Albert Starr began developing an artificial heart valve. Their work led to the Starr-Edwards valve, introduced in 1960. Edwards Lifesciences is headquartered in Irvine, California, and serves clinicians and patients around the world.