Northwestern Mutual Investment Management Company LLC Has $2.05 Million Position in Edwards Lifesciences Corp (NYSE:EW)

Northwestern Mutual Investment Management Company LLC lifted its stake in Edwards Lifesciences Corp (NYSE:EW) by 34.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,874 shares of the medical research company’s stock after acquiring an additional 2,772 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in Edwards Lifesciences were worth $2,051,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Edwards Lifesciences by 2.5% in the first quarter. BlackRock Inc. now owns 18,659,731 shares of the medical research company’s stock worth $3,519,597,000 after acquiring an additional 458,932 shares during the last quarter. State Street Corp increased its stake in shares of Edwards Lifesciences by 1.4% in the fourth quarter. State Street Corp now owns 8,916,931 shares of the medical research company’s stock worth $2,080,231,000 after acquiring an additional 121,185 shares during the last quarter. FMR LLC increased its stake in shares of Edwards Lifesciences by 5.8% in the fourth quarter. FMR LLC now owns 8,092,575 shares of the medical research company’s stock worth $1,887,918,000 after acquiring an additional 443,415 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Edwards Lifesciences by 5.6% in the first quarter. Bank of New York Mellon Corp now owns 6,550,480 shares of the medical research company’s stock worth $1,235,552,000 after acquiring an additional 346,555 shares during the last quarter. Finally, Capital Research Global Investors increased its stake in shares of Edwards Lifesciences by 3.4% in the fourth quarter. Capital Research Global Investors now owns 4,672,749 shares of the medical research company’s stock worth $1,090,106,000 after acquiring an additional 152,377 shares during the last quarter. 81.22% of the stock is currently owned by institutional investors and hedge funds.

In related news, CEO Michael A. Mussallem sold 22,850 shares of the stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $202.34, for a total value of $4,623,469.00. Following the completion of the transaction, the chief executive officer now owns 69,976 shares of the company’s stock, valued at $14,158,943.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Huimin Wang sold 1,717 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $216.68, for a total transaction of $372,039.56. Following the completion of the transaction, the vice president now directly owns 31,435 shares of the company’s stock, valued at approximately $6,811,335.80. The disclosure for this sale can be found here. Insiders have sold 95,878 shares of company stock valued at $20,047,408 in the last ninety days. 1.48% of the stock is owned by company insiders.

Shares of EW opened at $218.81 on Friday. The company has a 50-day simple moving average of $212.94 and a 200-day simple moving average of $222.43. The firm has a market capitalization of $45.13 billion, a P/E ratio of 41.84, a P/E/G ratio of 2.75 and a beta of 0.85. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.47 and a current ratio of 3.36. Edwards Lifesciences Corp has a 52 week low of $154.52 and a 52 week high of $247.64.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Thursday, April 23rd. The medical research company reported $1.51 EPS for the quarter, beating the Zacks’ consensus estimate of $1.29 by $0.22. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.03 billion. Edwards Lifesciences had a net margin of 24.71% and a return on equity of 31.83%. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.32 earnings per share. As a group, equities analysts forecast that Edwards Lifesciences Corp will post 4.95 earnings per share for the current year.

EW has been the subject of a number of recent research reports. Wells Fargo & Co cut shares of Edwards Lifesciences from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $250.00 to $230.00 in a report on Tuesday, April 28th. Canaccord Genuity reiterated a “buy” rating on shares of Edwards Lifesciences in a report on Friday, April 24th. BTIG Research reiterated a “hold” rating on shares of Edwards Lifesciences in a report on Thursday, April 23rd. Raymond James upped their price objective on shares of Edwards Lifesciences from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Finally, Piper Sandler decreased their price objective on shares of Edwards Lifesciences from $270.00 to $265.00 and set an “overweight” rating for the company in a report on Friday, April 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $247.52.

About Edwards Lifesciences

Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States and internationally. It offers transcatheter heart valve therapy products comprising transcatheter aortic valve replacement, and transcatheter mitral and tricuspid therapies for the nonsurgical replacement of heart valves.

Read More: Price to Earnings Ratio (PE)

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Institutional Ownership by Quarter for Edwards Lifesciences (NYSE:EW)

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