Deutsche Bank AG acquired a new stake in Edwards Lifesciences Corporation (NYSE:EW – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 5,710,284 shares of the medical research company’s stock, valued at approximately $516,552,000. Deutsche Bank AG owned 0.99% of Edwards Lifesciences at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Perigon Wealth Management LLC purchased a new stake in Edwards Lifesciences during the second quarter worth about $574,000. Commerzbank Aktiengesellschaft FI purchased a new position in shares of Edwards Lifesciences in the second quarter valued at approximately $305,000. Rice Hall James & Associates LLC purchased a new stake in Edwards Lifesciences during the 2nd quarter worth approximately $444,000. Trust Co. of Vermont acquired a new stake in Edwards Lifesciences during the 2nd quarter worth approximately $281,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Edwards Lifesciences during the 2nd quarter worth approximately $126,121,000. Institutional investors and hedge funds own 79.46% of the company’s stock.
Edwards Lifesciences Price Performance
Shares of NYSE:EW opened at $90.84 on Tuesday. Edwards Lifesciences Corporation has a one year low of $72.30 and a one year high of $96.29. The stock has a market capitalization of $52.31 billion, a price-to-earnings ratio of 52.21, a PEG ratio of 2.30 and a beta of 0.85. The company has a 50-day simple moving average of $88.83 and a 200-day simple moving average of $84.43. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.77 and a current ratio of 4.52.
Insider Buying and Selling at Edwards Lifesciences
In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 23,145 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $86.42, for a total value of $2,000,190.90. Following the completion of the sale, the vice president owned 98,611 shares of the company’s stock, valued at approximately $8,521,962.62. This trade represents a 19.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Daniel J. Lippis sold 619 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $92.03, for a total transaction of $56,966.57. Following the transaction, the vice president directly owned 40,034 shares in the company, valued at approximately $3,684,329.02. This trade represents a 1.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 25,570 shares of company stock valued at $2,219,390. 0.31% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on EW. UBS Group started coverage on Edwards Lifesciences in a research report on Tuesday, July 28th. They set a “buy” rating and a $110.00 price objective on the stock. TD Cowen reiterated a “buy” rating on shares of Edwards Lifesciences in a report on Tuesday, July 21st. BTIG Research boosted their target price on Edwards Lifesciences from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. Royal Bank Of Canada boosted their price target on shares of Edwards Lifesciences from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Finally, Wall Street Zen downgraded Edwards Lifesciences from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Seventeen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Edwards Lifesciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.27.
Edwards Lifesciences Company Profile
Edwards Lifesciences is a medical technology company focused on products and therapies for structural heart disease and critical care monitoring. The company designs, develops and manufactures prosthetic heart valves and related delivery systems used in both surgical and minimally invasive (transcatheter) procedures. Its portfolio addresses a range of valvular conditions, with an emphasis on technologies that enable transcatheter aortic valve replacement (TAVR) as an alternative to open-heart surgery.
In addition to transcatheter heart valves—including the widely recognized SAPIEN family—Edwards offers surgical tissue valves and ancillary devices used by cardiac surgeons, interventional cardiologists and hospital teams.
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