The Vanguard Group, Inc. recently announced the acquisition of new stake in Edwards Lifesciences Corporation (NYSE:EW). The institutional investor has increased its shareholding in the Healthcare company by 1.28% to 48.35 million shares with purchase of 0.61 million shares. This fresh investment now brings its stake to 7.82% valued currently at $3.5 billion. In addition, Capital Research & Management Co raised its holdings by 0.29 million to 22.7 million shares. And AllianceBernstein LP has lifted its position by 4.89% or 0.8 million shares – to 17.16 million shares.
With over 6.38 million Edwards Lifesciences Corporation (EW) shares trading Tuesday and a closing price of $74.85 on the day, the dollar volume was approximately $477.56 million. The shares have shown a negative half year performance of -25.78% and its price on 11/29/22 lost nearly -1.23%. Currently, there are 619.80M common shares owned by the public and among those 612.90M shares have been available to trade.
Insiders at the company have transacted a total of 266 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 99 of these insider trades were purchases, accounting for 1,241,043 shares. Insider sales of the common stock occurred on 167 occasions, with total insider shares sold totaling 979,410 shares.
The top 3 mutual fund holders in Edwards Lifesciences Corporation are Vanguard Total Stock Market Index, Vanguard 500 Index Fund, and Vanguard Health Care Fund. Vanguard Total Stock Market Index owns 18.61 million shares of the company’s stock, all valued at over $1.35 billion. The company bought an additional 95419.0 shares recently to bring their total holdings to about 3.01% of the shares outstanding. Vanguard 500 Index Fund bought 0.14 million shares to see its total holdings expand to 14.18 million shares valued at over $1.03 billion and representing 2.29% of the shares outstanding. Vanguard Health Care Fund now owns shares totaling to 1.48% of the shares outstanding.
Shares of Edwards Lifesciences Corporation (NYSE: EW) opened at $76.03, up $0.25 from a prior closing price of $75.78. However, the script later moved the day high at 76.61, down -1.23%. The company’s stock has a 5-day price change of 1.01% and -17.23% over the past three months. EW shares are trading -42.22% year to date (YTD), with the 12-month market performance down to -32.39% lower. It has a 12-month low price of $67.13 and touched a high of $131.73 over the same period. EW has an average intraday trading volume of 4.28 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.68%, -6.21%, and -23.04% respectively.
Institutional ownership of Edwards Lifesciences Corporation (NYSE: EW) shares accounts for 84.70% of the company’s 619.80M shares outstanding. Mutual fund holders own 36.12%, while other institutional holders and individual stakeholders account for 48.42% and 1.12% respectively.
It has a market capitalization of $45.30B and a beta (3y monthly) value of 1.03. The stock’s trailing 12-month PE ratio is 32.22, while the earnings-per-share (ttm) stands at $2.32. The company has a PEG of 3.03 and a Quick Ratio of 3.00 with the debt-to-equity ratio at 0.10. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.03% over the week and 2.86% over the month.
Analysts forecast that Edwards Lifesciences Corporation (EW) will achieve an EPS of $0.66 for the current quarter, $0.66 for the next quarter and $2.68 for 2023. The lowest estimate earnings-per-share for the quarter is $0.6 while analysts give the company a high EPS estimate of $0.68. Comparatively, EPS for the current quarter was $0.51 a year ago. Earnings per share for the fiscal year are expected to increase by 82.80%, and 3.01% over the next financial year. EPS should shrink at an annualized rate of 10.64% over the next five years, compared to 22.30% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 27 brokerage firm advisors rate Edwards Lifesciences Corporation (EW) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 16 Wall Street analysts polled rate the stock as a buy, while 7 of the 27 advise that investors “hold,” and 0 rated it as a “Sell.”
Mizuho coverage for the Edwards Lifesciences Corporation (EW) stock in a research note released on October 26, 2022 offered a Buy rating with a price target of $100. Barclays was of a view on October 18, 2022 that the stock is Overweight, while Jefferies gave the stock Buy rating on October 12, 2022, issuing a price target of $110. Canaccord Genuity on their part issued Hold rating on July 29, 2022.