American International Group Inc. Sells 1,548 Shares of Edwards Lifesciences Co. (NYSE:EW)

American International Group Inc. reduced its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 0.9% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 173,236 shares of the medical research company’s stock after selling 1,548 shares during the period. American International Group Inc.’s holdings in Edwards Lifesciences were worth $16,554,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EW. Vanguard Group Inc. grew its holdings in shares of Edwards Lifesciences by 1.1% in the first quarter. Vanguard Group Inc. now owns 52,964,394 shares of the medical research company’s stock valued at $5,061,277,000 after acquiring an additional 600,994 shares in the last quarter. Bank of New York Mellon Corp grew 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 acquiring an additional 1,644,869 shares in the last quarter. Brown Advisory Inc. grew its holdings in shares of Edwards Lifesciences by 20.1% in the fourth quarter. Brown Advisory Inc. now owns 18,181,420 shares of the medical research company’s stock valued at $1,386,333,000 after acquiring an additional 3,048,274 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Edwards Lifesciences by 2.4% in the fourth quarter. Wellington Management Group LLP now owns 16,827,510 shares of the medical research company’s stock valued at $1,283,098,000 after acquiring an additional 393,109 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Edwards Lifesciences in the fourth quarter valued at approximately $648,540,000. 79.46% of the stock is owned by institutional investors.

Edwards Lifesciences Price Performance

EW traded down $0.10 during trading on Wednesday, reaching $86.95. The stock had a trading volume of 3,277,317 shares, compared to its average volume of 3,397,984. The business has a 50-day moving average of $89.12 and a 200-day moving average of $87.12. Edwards Lifesciences Co. has a one year low of $60.57 and a one year high of $96.12. The stock has a market cap of $52.40 billion, a PE ratio of 37.48, a PEG ratio of 3.22 and a beta of 1.11. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.67 and a current ratio of 3.75.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Wednesday, July 24th. The medical research company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Edwards Lifesciences had a return on equity of 22.86% and a net margin of 23.01%. The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period last year, the firm earned $0.66 earnings per share. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Edwards Lifesciences Co. will post 2.77 EPS for the current fiscal year.

Insider Activity

In other news, CEO Bernard J. Zovighian bought 580 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was bought at an average cost of $85.74 per share, for a total transaction of $49,729.20. Following the completion of the acquisition, the chief executive officer now owns 3,268 shares in the company, valued at approximately $280,198.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Bernard J. Zovighian bought 580 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was bought at an average cost of $85.74 per share, for a total transaction of $49,729.20. Following the completion of the acquisition, the chief executive officer now owns 3,268 shares in the company, valued at approximately $280,198.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Scott B. Ullem sold 7,250 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $85.80, for a total transaction of $622,050.00. Following the sale, the chief financial officer now owns 19,074 shares of the company’s stock, valued at $1,636,549.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 81,099 shares of company stock valued at $7,003,553. 1.29% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on EW. StockNews.com raised Edwards Lifesciences from a “hold” rating to a “buy” rating in a report on Thursday, June 27th. Truist Financial upped their price objective on Edwards Lifesciences from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Mizuho upped their price objective on Edwards Lifesciences from $95.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Stifel Nicolaus upped their price objective on Edwards Lifesciences from $83.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, April 26th. Finally, Wells Fargo & Company upped their price objective on Edwards Lifesciences from $94.00 to $99.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $96.13.

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.