The Vanguard Group, Inc. has recently announced that it has increased stake in Edwards Lifesciences Corp (NYSE:EW) by 0.62%. After grabbing 49.08 million shares, the institutional investor is now in possession of 0.3 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 8.09% having worth around $3.32 billion. Moreover, BlackRock Fund Advisors increased its share by 0.3 million to have a control over 31.56 million shares. And Capital Research & Management Co raised its holdings to 3.24 million shares by acquiring 30.25 million shares or 4.99% of the stake.
Edwards Lifesciences Corp (EW) concluded trading on 01/04/24 at a closing price of $73.52, with 3.7 million shares of worth about $272.29 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -18.73% during that period and on Thursday the price saw a gain of about 0.53%. Currently the company’s common shares owned by public are about 608.30M shares, out of which, 597.52M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 32 analysts are covering the EW stock and their offered price forecasts bring an average price target of $79.15. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $96.00 and could fall to a lowest price of $57.00. The stock’s current price level is 7.11% above of average price target set by the analysts, while a rise to estimated low would result in loss of -28.98% for the stock. However, touching the estimated high of $96.00 would mean a gain of 23.42% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 205 times over the past 12 months. They bought 1,455,193 shares in 90 of the transactions. In 115 selling transactions, insiders dumped 1,296,234 shares.
Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Vanguard Health Care Fund are the top 3 mutual funds which are holding stakes in Edwards Lifesciences Corp Vanguard Total Stock Market ETF is currently holding 19.05 million shares of worth totaling $1.29 billion. The company recently came buying 22954.0 shares which brought its stake up to 3.14% of the company’s outstanding shares. Vanguard 500 Index Fund bought 73868.0 shares, after which its hold over company’s outstanding shares expand to 2.42%, leaving 14.68 million shares with the mutual fund that have a worth of about $994.25 million. Vanguard Health Care Fund, after buying 9.39 million shares, have now control over 1.55% of the stake in the company. It holds 0.0 shares of worth $635.53 million.
Edwards Lifesciences Corp (NYSE: EW) started trading at $71.97, below -$1.16 from concluding price of the previous day. However, the stock later moved at a day high price of 73.83, or with a gain of 0.53%. Stock saw a price change of -3.53% in past 5 days and over the past one month there was a price change of 6.27%. Year-to-date (YTD), EW shares are showing a performance of -3.58% which decreased to -1.01% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $60.57 but also hit the highest price of $94.87 during that period. The average intraday trading volume for Edwards Lifesciences Corp shares is 4.70 million. The stock is currently trading -0.47% below its 20-day simple moving average (SMA20), while that difference is up 5.97% for SMA50 and it goes to -6.90% lower than SMA200.
The Vanguard Group, Inc. acquired 49.08 million shares of Edwards Lifesciences Corp having value of about $3.32 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.3 million shares in the company valued at close to $22250901.52, or have control over 0.62% stake in the company. Edwards Lifesciences Corp (NYSE: EW) currently have 608.30M outstanding shares and institutions hold larger chunk of about 84.94% of that. Holding of mutual funds in the company is about 35.99% while other institutional holders and individual stake holders have control over 49.84% and 1.16% of the stake respectively.
The stock has a current market capitalization of $44.59B and its 3Y-monthly beta is at 1.04. PE ratio of stock for trailing 12 months is 31.44, while it has posted earnings per share of $2.34 in the same period. Its PEG reads 3.94 and has Quick Ratio of 2.45 while making debt-to-equity ratio of 0.10. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for EW, volatility over the week remained 2.15% while standing at 2.60% over the month.
Analysts are in expectations that Edwards Lifesciences Corp (EW) stock would likely to be making an EPS of $0.64 in the current quarter, while forecast for next quarter EPS is $0.66 and it is $2.77 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.62 which is $0.66 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.64 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 1.18% while it is estimated to increase by 10.11% in next year. EPS is likely to shrink at an annualized rate of 7.99% for next 5-years, compared to annual growth of 22.06% made by the stock over the past 5-years.
Analysts at 32 brokerage firms have issued recommendations for the Edwards Lifesciences Corp (EW)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.16. Out of those 32 Wall Street analysts, 13 recommended a “Buy” rating, while 13 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Evercore ISI on January 04, 2024 offering an In-line rating for the stock and assigned a target price range of between $80 and $77 to it.
