Mitsubishi UFJ Asset Management Co. Ltd. Acquires 58,352 Shares of Edwards Lifesciences Co. (NYSE:EW)

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Edwards Lifesciences Co. (NYSE:EW) by 6.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 951,514 shares of the medical research company’s stock after purchasing an additional 58,352 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.16% of Edwards Lifesciences worth $70,326,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in EW. Crowley Wealth Management Inc. bought a new position in shares of Edwards Lifesciences in the fourth quarter worth $26,000. Millstone Evans Group LLC bought a new position in Edwards Lifesciences in the 4th quarter valued at about $29,000. FSA Wealth Management LLC acquired a new position in shares of Edwards Lifesciences in the 3rd quarter valued at approximately $30,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Edwards Lifesciences during the 4th quarter worth approximately $30,000. Finally, Roble Belko & Company Inc acquired a new stake in shares of Edwards Lifesciences during the 4th quarter worth approximately $46,000. Institutional investors and hedge funds own 79.46% of the company’s stock.

Insider Activity

In other news, CEO Bernard J. Zovighian sold 6,164 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $69.51, for a total transaction of $428,459.64. Following the completion of the sale, the chief executive officer now owns 59,083 shares in the company, valued at $4,106,859.33. The trade was a 9.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Daniel J. Lippis sold 400 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $69.48, for a total value of $27,792.00. Following the completion of the transaction, the vice president now owns 22,588 shares in the company, valued at approximately $1,569,414.24. This represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 62,553 shares of company stock worth $4,513,064. Company insiders own 1.29% of the company’s stock.

Wall Street Analyst Weigh In

EW has been the subject of several recent analyst reports. Truist Financial restated a “hold” rating and set a $78.00 target price (up from $70.00) on shares of Edwards Lifesciences in a research note on Thursday, December 5th. Evercore ISI reduced their price objective on Edwards Lifesciences from $75.00 to $73.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 12th. Bank of America raised Edwards Lifesciences from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $82.00 to $90.00 in a research note on Monday, December 16th. Morgan Stanley raised their price target on shares of Edwards Lifesciences from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Finally, The Goldman Sachs Group upped their price objective on shares of Edwards Lifesciences from $81.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $79.95.

Edwards Lifesciences Stock Down 0.4 %

Shares of NYSE:EW opened at $70.90 on Friday. The business’s 50-day moving average is $71.49 and its 200-day moving average is $70.49. Edwards Lifesciences Co. has a 1 year low of $58.93 and a 1 year high of $95.73. The company has a market capitalization of $41.68 billion, a price-to-earnings ratio of 10.17, a P/E/G ratio of 4.82 and a beta of 1.12. 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 (NYSE:EW) last posted its quarterly earnings results on Tuesday, February 11th. The medical research company reported $0.59 earnings per share (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%. Equities research analysts predict that Edwards Lifesciences Co. will post 2.45 earnings per share for the current year.

Edwards Lifesciences Company 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.