Truist Financial Corp Grows Position in Edwards Lifesciences Co. (NYSE:EW)

Truist Financial Corp boosted its stake in Edwards Lifesciences Co. (NYSE:EW) by 19.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 41,340 shares of the medical research company’s stock after purchasing an additional 6,676 shares during the quarter. Truist Financial Corp’s holdings in Edwards Lifesciences were worth $3,060,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of EW. Pittenger & Anderson Inc. lifted its position in shares of Edwards Lifesciences by 59.6% during the fourth quarter. Pittenger & Anderson Inc. now owns 15,014 shares of the medical research company’s stock worth $1,111,000 after purchasing an additional 5,609 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of Edwards Lifesciences during the fourth quarter worth $54,000. AlphaCentric Advisors LLC acquired a new position in shares of Edwards Lifesciences during the fourth quarter worth $691,000. Baillie Gifford & Co. raised its holdings in Edwards Lifesciences by 238.7% in the fourth quarter. Baillie Gifford & Co. now owns 706,796 shares of the medical research company’s stock valued at $52,324,000 after acquiring an additional 498,100 shares in the last quarter. Finally, Sierra Ocean LLC acquired a new stake in Edwards Lifesciences in the fourth quarter valued at $98,000. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on EW. Barclays upped their price target on shares of Edwards Lifesciences from $88.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Royal Bank of Canada reissued an “outperform” rating and set a $85.00 target price on shares of Edwards Lifesciences in a report on Wednesday, February 12th. Piper Sandler increased their target price on shares of Edwards Lifesciences from $70.00 to $73.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Stifel Nicolaus raised shares of Edwards Lifesciences from a “hold” rating to a “buy” rating and increased their target price for the stock from $75.00 to $90.00 in a report on Thursday, January 30th. Finally, Canaccord Genuity Group increased their target price on shares of Edwards Lifesciences from $68.00 to $71.00 and gave the stock a “hold” rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $79.95.

Insider Buying and Selling at Edwards Lifesciences

In other news, VP Daniel J. Lippis sold 2,500 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $74.08, for a total value of $185,200.00. Following the sale, the vice president now owns 23,189 shares in the company, valued at approximately $1,717,841.12. This trade represents a 9.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 6,500 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $75.75, for a total transaction of $492,375.00. Following the completion of the sale, the vice president now owns 46,936 shares in the company, valued at approximately $3,555,402. The trade was a 12.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,489 shares of company stock worth $2,002,829 over the last 90 days. Insiders own 1.29% of the company’s stock.

Edwards Lifesciences Trading Down 1.8 %

NYSE:EW opened at $71.46 on Wednesday. The stock’s 50 day moving average price is $72.78 and its 200 day moving average price is $70.18. Edwards Lifesciences Co. has a 52 week low of $58.93 and a 52 week high of $96.12. The company has a market capitalization of $42.15 billion, a P/E ratio of 10.25, a P/E/G ratio of 4.82 and a beta of 1.11. 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 released its quarterly earnings data on Tuesday, February 11th. The medical research company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates 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 forecast that Edwards Lifesciences Co. will post 2.45 EPS for the current fiscal year.

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.