Jennison Associates LLC Acquires Shares of 7,509,650 Edwards Lifesciences Co. (NYSE:EW)

Jennison Associates LLC bought a new stake in Edwards Lifesciences Co. (NYSE:EW) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 7,509,650 shares of the medical research company’s stock, valued at approximately $555,939,000. Jennison Associates LLC owned approximately 1.27% of Edwards Lifesciences as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. FSA Wealth Management LLC acquired a new stake in Edwards Lifesciences in the third quarter valued at approximately $30,000. Prospera Private Wealth LLC bought a new position in shares of Edwards Lifesciences in the 3rd quarter valued at $32,000. Avior Wealth Management LLC boosted its holdings in shares of Edwards Lifesciences by 138.7% during the 3rd quarter. Avior Wealth Management LLC now owns 530 shares of the medical research company’s stock valued at $35,000 after acquiring an additional 308 shares in the last quarter. JFS Wealth Advisors LLC grew its position in Edwards Lifesciences by 31.1% during the 3rd quarter. JFS Wealth Advisors LLC now owns 700 shares of the medical research company’s stock worth $46,000 after acquiring an additional 166 shares during the last quarter. Finally, Roble Belko & Company Inc acquired a new position in Edwards Lifesciences in the 4th quarter worth about $46,000. Institutional investors own 79.46% of the company’s stock.

Insider Activity

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $65.57, for a total transaction of $327,850.00. Following the completion of the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,077,593.52. The trade was a 9.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Larry L. Wood sold 25,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $65.91, for a total value of $1,647,750.00. Following the completion of the sale, the insider now directly owns 198,526 shares of the company’s stock, valued at approximately $13,084,848.66. This trade represents a 11.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,000 shares of company stock worth $2,195,180 over the last quarter. 1.27% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Citigroup lifted their price target on Edwards Lifesciences from $81.00 to $83.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Canaccord Genuity Group lifted their target price on shares of Edwards Lifesciences from $63.00 to $68.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Sanford C. Bernstein upgraded shares of Edwards Lifesciences from a “strong sell” rating to a “hold” rating in a research report on Monday, October 28th. Morgan Stanley reiterated an “equal weight” rating and set a $70.00 price target on shares of Edwards Lifesciences in a report on Friday, October 11th. Finally, Barclays boosted their price objective on shares of Edwards Lifesciences from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Edwards Lifesciences presently has a consensus rating of “Hold” and a consensus target price of $79.19.

Edwards Lifesciences Stock Performance

Shares of Edwards Lifesciences stock opened at $72.41 on Monday. The business has a 50-day simple moving average of $72.49 and a 200 day simple moving average of $69.73. The firm has a market capitalization of $42.71 billion, a price-to-earnings ratio of 10.45, a PEG ratio of 3.72 and a beta of 1.11. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89. Edwards Lifesciences Co. has a one year low of $58.93 and a one year high of $96.12.

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.