Hartford Investment Management Co. Cuts Stock Holdings in Edwards Lifesciences Co. (NYSE:EW)

Hartford Investment Management Co. decreased its position in Edwards Lifesciences Co. (NYSE:EW) by 3.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 36,439 shares of the medical research company’s stock after selling 1,460 shares during the quarter. Hartford Investment Management Co.’s holdings in Edwards Lifesciences were worth $2,698,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in EW. Wellington Management Group LLP grew its stake in shares of Edwards Lifesciences by 86.3% in 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 acquiring an additional 14,610,123 shares in the last quarter. Jennison Associates LLC bought a new position in Edwards Lifesciences during the fourth quarter valued at about $555,939,000. Assenagon Asset Management S.A. grew its position in Edwards Lifesciences by 475.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 4,243,976 shares of the medical research company’s stock valued at $314,182,000 after buying an additional 3,506,886 shares during the period. Jacobs Levy Equity Management Inc. grew its position in Edwards Lifesciences by 239.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 3,693,663 shares of the medical research company’s stock valued at $243,745,000 after buying an additional 2,606,950 shares during the period. Finally, Seilern Investment Management Ltd bought a new position in Edwards Lifesciences during the fourth quarter valued at about $109,490,000. Institutional investors own 79.46% of the company’s stock.

Insider Activity at Edwards Lifesciences

In other Edwards Lifesciences news, VP Daniel J. Lippis sold 2,500 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $74.08, for a total transaction of $185,200.00. Following the transaction, the vice president now directly owns 23,189 shares in the company, valued at $1,717,841.12. This trade represents a 9.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.29% of the stock is currently owned by insiders.

Edwards Lifesciences Trading Up 6.9 %

Shares of Edwards Lifesciences stock opened at $75.83 on Thursday. The company’s 50-day moving average price is $72.47 and its 200-day moving average price is $69.32. The company has a market cap of $44.72 billion, a price-to-earnings ratio of 10.94, a PEG ratio of 3.64 and a beta of 1.10. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $96.12.

Edwards Lifesciences (NYSE:EW) last announced its earnings results on Tuesday, February 11th. The medical research company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. On average, equities analysts expect that Edwards Lifesciences Co. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on EW shares. JPMorgan Chase & Co. increased their price target on shares of Edwards Lifesciences from $72.00 to $78.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Truist Financial restated a “hold” rating and set a $78.00 price target (up previously from $70.00) on shares of Edwards Lifesciences in a research report on Thursday, December 5th. Piper Sandler increased their price target on shares of Edwards Lifesciences from $70.00 to $73.00 and gave the company a “neutral” rating in a research report on Wednesday. Royal Bank of Canada restated an “outperform” rating and set a $85.00 price target on shares of Edwards Lifesciences in a research report on Wednesday. Finally, Morgan Stanley increased 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 report on Wednesday. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Edwards Lifesciences currently has an average rating of “Hold” and a consensus target price of $79.71.

Edwards Lifesciences 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.