Edwards Lifesciences Corporation $EW Stock Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its position in shares of Edwards Lifesciences Corporation (NYSE:EW) by 3.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,220,221 shares of the medical research company’s stock after selling 38,737 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.21% of Edwards Lifesciences worth $105,329,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Pin Oak Investment Advisors Inc. bought a new position in shares of Edwards Lifesciences during the 2nd quarter worth $26,000. TrinityBridge Ltd purchased a new position in shares of Edwards Lifesciences during the second quarter valued at $27,000. GK Wealth Management LLC purchased a new position in shares of Edwards Lifesciences during the third quarter valued at $26,000. RMG Wealth Management LLC purchased a new position in shares of Edwards Lifesciences during the first quarter valued at $26,000. Finally, Compass Financial Management LLC bought a new stake in shares of Edwards Lifesciences in the second quarter valued at about $32,000. 79.46% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP Andrew M. Dahl sold 544 shares of the firm’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $91.06, for a total transaction of $49,536.64. Following the sale, the senior vice president owned 14,868 shares of the company’s stock, valued at $1,353,880.08. This trade represents a 3.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Daniel Lippis sold 619 shares of the firm’s stock in a transaction dated Thursday, October 8th. The shares were sold at an average price of $85.65, for a total value of $53,017.35. Following the sale, the vice president directly owned 40,034 shares in the company, valued at approximately $3,428,912.10. The trade was a 1.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 5,045 shares of company stock worth $451,596 in the last three months. 0.31% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Jefferies Financial Group lifted their price objective on Edwards Lifesciences from $102.00 to $105.00 and gave the company a “buy” rating in a report on Friday, July 24th. Argus increased their target price on shares of Edwards Lifesciences from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, August 21st. Sanford C. Bernstein boosted their price target on shares of Edwards Lifesciences from $96.00 to $99.00 and gave the company a “market perform” rating in a report on Friday, July 24th. Wall Street Zen lowered shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a report on Saturday. Finally, The Goldman Sachs Group upped their price target on shares of Edwards Lifesciences from $98.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.16.

Edwards Lifesciences Trading Up 1.5%

Shares of NYSE:EW opened at $93.38 on Tuesday. Edwards Lifesciences Corporation has a 12-month low of $74.66 and a 12-month high of $96.29. The business’s fifty day simple moving average is $88.22 and its 200-day simple moving average is $85.47. The company has a market capitalization of $53.77 billion, a PE ratio of 32.66, a P/E/G ratio of 2.40 and a beta of 0.87. The company has a current ratio of 4.52, a quick ratio of 3.77 and a debt-to-equity ratio of 0.06.

Edwards Lifesciences News Roundup

Here are the key news stories impacting Edwards Lifesciences this week:

• Positive Sentiment: The PROGRESS trial found Edwards’ transcatheter aortic valve replacement (TAVR) was superior to clinical surveillance in moderate aortic stenosis patients with at-risk features, reducing the two-year composite of death or heart-failure events. The results support using TAVR earlier in the disease course and could expand the addressable patient population beyond severe aortic stenosis. PROGRESS Trial results
• Positive Sentiment: The CLASP II TR trial showed Edwards’ PASCAL system for tricuspid repair outperformed medical therapy alone on its six-month primary endpoint. The system also produced significant and sustained reductions in tricuspid regurgitation and improvements in patients’ quality of life through one year, strengthening the case for Edwards’ transcatheter tricuspid-repair franchise. CLASP II TR trial results
• Positive Sentiment: Bank of America analyst Travis Steed revisited Edwards following the PROGRESS data, highlighting the trial’s potential to support TAVR expansion in selected moderate aortic stenosis patients. Analyst attention reinforces the potential commercial significance of the results. Bank of America analyst coverage
• Neutral Sentiment: The longer-term stock impact will depend on regulatory decisions, guideline changes, reimbursement and physician adoption. The trial results are encouraging, but expanded indications would require additional execution before translating into revenue.

About Edwards Lifesciences

Edwards Lifesciences Corporation (NYSE:EW) is a medical technology company focused on therapies for structural heart disease and critical care. The company develops and manufactures products designed to treat conditions affecting the heart’s valves, including aortic, mitral and tricuspid valve disorders.

Its portfolio includes transcatheter aortic valve replacement systems, transcatheter mitral and tricuspid therapies, surgical heart valves and valve-repair technologies. Edwards also provides related delivery systems and other medical devices used by physicians in minimally invasive and open-heart procedures.

Founded in 1958 by Miles Lowell Edwards, the company is headquartered in Irvine, California, and serves healthcare providers and patients internationally.