Public Employees Retirement Association of Colorado Has $8.28 Million Stock Holdings in Edwards Lifesciences Co. (NYSE:EW)

Public Employees Retirement Association of Colorado reduced its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 3.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 86,692 shares of the medical research company’s stock after selling 3,369 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Edwards Lifesciences were worth $8,284,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Edwards Lifesciences during the fourth quarter worth $648,540,000. Brown Advisory Inc. increased its holdings in Edwards Lifesciences by 20.1% during the 4th quarter. Brown Advisory Inc. now owns 18,181,420 shares of the medical research company’s stock worth $1,386,333,000 after purchasing an additional 3,048,274 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Edwards Lifesciences by 57.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,516,260 shares of the medical research company’s stock worth $622,695,000 after purchasing an additional 2,390,137 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Edwards Lifesciences by 197.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 3,446,758 shares of the medical research company’s stock valued at $262,815,000 after purchasing an additional 2,286,119 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Edwards Lifesciences by 9.5% in the first quarter. Bank of New York Mellon Corp now owns 18,973,304 shares of the medical research company’s stock valued at $1,813,089,000 after purchasing an additional 1,644,869 shares in the last quarter. Institutional investors own 79.46% of the company’s stock.

Insider Activity

In related news, CEO Bernard J. Zovighian purchased 580 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were acquired at an average price of $85.74 per share, for a total transaction of $49,729.20. Following the purchase, the chief executive officer now owns 3,268 shares in the company, valued at $280,198.32. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Bernard J. Zovighian acquired 580 shares of the business’s stock in a transaction on Monday, May 6th. The stock was purchased at an average cost of $85.74 per share, for a total transaction of $49,729.20. Following the completion of the transaction, the chief executive officer now directly owns 3,268 shares of the company’s stock, valued at approximately $280,198.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Daniel J. Lippis sold 857 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $85.60, for a total value of $73,359.20. Following the completion of the transaction, the vice president now directly owns 23,890 shares in the company, valued at approximately $2,044,984. The disclosure for this sale can be found here. Insiders have sold 73,849 shares of company stock valued at $6,381,503 over the last ninety days. 1.29% of the stock is currently owned by company insiders.

Edwards Lifesciences Price Performance

NYSE:EW opened at $63.74 on Tuesday. The company has a quick ratio of 2.87, a current ratio of 3.71 and a debt-to-equity ratio of 0.08. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $96.12. The stock’s 50 day moving average price is $87.45 and its two-hundred day moving average price is $86.91. The firm has a market capitalization of $38.41 billion, a price-to-earnings ratio of 27.47, a P/E/G ratio of 2.33 and a beta of 1.11.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the prior year, the business earned $0.66 EPS. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. On average, analysts anticipate that Edwards Lifesciences Co. will post 2.71 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Mizuho increased their price objective on Edwards Lifesciences from $95.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Piper Sandler decreased their price target on shares of Edwards Lifesciences from $88.00 to $73.00 and set a “neutral” rating for the company in a research note on Thursday, July 25th. Royal Bank of Canada lowered their price objective on shares of Edwards Lifesciences from $101.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. TD Cowen cut shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and reduced their target price for the stock from $100.00 to $70.00 in a report on Thursday, July 25th. Finally, Barclays lowered their price target on shares of Edwards Lifesciences from $101.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday. Fourteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $82.10.

Edwards Lifesciences 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.