Principal Financial Group Inc. Has $53.95 Million Stock Position in Edwards Lifesciences Co. (NYSE:EW)

Principal Financial Group Inc. lifted its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 2.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 817,516 shares of the medical research company’s stock after purchasing an additional 17,647 shares during the period. Principal Financial Group Inc.’s holdings in Edwards Lifesciences were worth $53,948,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Wellington Management Group LLP lifted its holdings in Edwards Lifesciences by 86.3% during the 3rd quarter. Wellington Management Group LLP now owns 31,532,725 shares of the medical research company’s stock worth $2,080,845,000 after buying an additional 14,610,123 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in shares of Edwards Lifesciences by 239.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 3,693,663 shares of the medical research company’s stock worth $243,745,000 after acquiring an additional 2,606,950 shares during the period. Fisher Asset Management LLC boosted its holdings in Edwards Lifesciences by 9.8% in the third quarter. Fisher Asset Management LLC now owns 9,078,311 shares of the medical research company’s stock valued at $599,078,000 after acquiring an additional 806,705 shares during the last quarter. Worldquant Millennium Advisors LLC acquired a new stake in Edwards Lifesciences during the 3rd quarter valued at approximately $39,628,000. Finally, AustralianSuper Pty Ltd raised its holdings in Edwards Lifesciences by 17.8% during the 3rd quarter. AustralianSuper Pty Ltd now owns 3,273,416 shares of the medical research company’s stock worth $216,013,000 after purchasing an additional 494,604 shares during the last quarter. Institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Stock Performance

Shares of Edwards Lifesciences stock opened at $74.81 on Monday. The company has a market cap of $44.12 billion, a PE ratio of 10.80, a price-to-earnings-growth ratio of 3.63 and a beta of 1.12. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06. Edwards Lifesciences Co. has a 52 week low of $58.93 and a 52 week high of $96.12. The business has a 50 day moving average price of $70.06 and a 200-day moving average price of $73.52.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings data on Thursday, October 24th. The medical research company reported $0.67 earnings per share for the quarter, meeting the consensus estimate of $0.67. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same period last year, the business earned $0.59 EPS. The business’s revenue was up 8.9% on a year-over-year basis. Equities analysts anticipate that Edwards Lifesciences Co. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Larry L. Wood sold 25,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $65.91, for a total value of $1,647,750.00. Following the transaction, the insider now directly owns 198,526 shares of the company’s stock, valued at approximately $13,084,848.66. The trade was a 11.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Daniel J. Lippis sold 2,500 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $74.08, for a total transaction of $185,200.00. Following the sale, the vice president now owns 23,189 shares of the company’s stock, valued at $1,717,841.12. This trade represents a 9.73 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,500 shares of company stock worth $2,508,350. 1.29% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Citigroup increased their price objective on shares of Edwards Lifesciences from $81.00 to $83.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. 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. Barclays boosted their price objective on Edwards Lifesciences from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. JPMorgan Chase & Co. raised their target price on Edwards Lifesciences from $72.00 to $78.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Finally, Truist Financial restated a “hold” rating and set a $78.00 price target (up from $70.00) on shares of Edwards Lifesciences in a report on Thursday, December 5th. Sixteen investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $79.40.

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.