Edwards Lifesciences Co. (NYSE:EW) Stake Cut by Mission Wealth Management LP

Mission Wealth Management LP reduced its holdings in Edwards Lifesciences Co. (NYSE:EW) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,246 shares of the medical research company’s stock after selling 971 shares during the period. Mission Wealth Management LP’s holdings in Edwards Lifesciences were worth $4,365,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in EW. Penobscot Investment Management Company Inc. acquired a new stake in shares of Edwards Lifesciences in the fourth quarter valued at about $1,124,000. Kestra Private Wealth Services LLC lifted its stake in Edwards Lifesciences by 9.0% during the fourth quarter. Kestra Private Wealth Services LLC now owns 4,796 shares of the medical research company’s stock worth $366,000 after purchasing an additional 396 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Edwards Lifesciences by 16.9% in the 4th quarter. Van ECK Associates Corp now owns 170,094 shares of the medical research company’s stock valued at $12,969,000 after acquiring an additional 24,605 shares during the last quarter. Investment House LLC increased its holdings in Edwards Lifesciences by 4.0% in the fourth quarter. Investment House LLC now owns 156,263 shares of the medical research company’s stock valued at $11,915,000 after purchasing an additional 6,043 shares during the period. Finally, Retirement Systems of Alabama acquired a new stake in Edwards Lifesciences during the 4th quarter worth about $10,192,000. 79.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Edwards Lifesciences

In other Edwards Lifesciences news, CFO Scott B. Ullem sold 7,255 shares of Edwards Lifesciences stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $78.29, for a total value of $567,993.95. Following the completion of the transaction, the chief financial officer now directly owns 19,248 shares of the company’s stock, valued at approximately $1,506,925.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Edwards Lifesciences news, Director Heisz Leslie Stone sold 7,056 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $86.45, for a total value of $609,991.20. Following the sale, the director now owns 26,980 shares in the company, valued at approximately $2,332,421. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Scott B. Ullem sold 7,255 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $78.29, for a total value of $567,993.95. Following the completion of the transaction, the chief financial officer now directly owns 19,248 shares in the company, valued at $1,506,925.92. The disclosure for this sale can be found here. Insiders sold 194,004 shares of company stock valued at $17,166,254 in the last three months. Corporate insiders own 1.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on EW shares. Morgan Stanley lifted their price objective on shares of Edwards Lifesciences from $95.00 to $103.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. Stifel Nicolaus boosted their target price on shares of Edwards Lifesciences from $83.00 to $85.00 and gave the stock a “hold” rating in a report on Friday. Oppenheimer lifted their price target on shares of Edwards Lifesciences from $93.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, March 18th. Evercore ISI lowered their price target on shares of Edwards Lifesciences from $92.00 to $89.00 and set an “in-line” rating for the company in a research report on Friday. Finally, Bank of America upgraded shares of Edwards Lifesciences from a “neutral” rating to a “buy” rating in a research note on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Edwards Lifesciences presently has a consensus rating of “Moderate Buy” and an average price target of $92.71.

Edwards Lifesciences Trading Down 1.5 %

Edwards Lifesciences stock traded down $1.28 during mid-day trading on Tuesday, hitting $84.67. The stock had a trading volume of 2,881,572 shares, compared to its average volume of 3,828,306. Edwards Lifesciences Co. has a 12 month low of $60.57 and a 12 month high of $96.12. The stock has a 50-day simple moving average of $90.27 and a two-hundred day simple moving average of $79.06. The company has a current ratio of 3.75, a quick ratio of 2.67 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $50.97 billion, a PE ratio of 37.05, a P/E/G ratio of 4.28 and a beta of 1.05.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Thursday, April 25th. The medical research company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. Edwards Lifesciences had a return on equity of 22.86% and a net margin of 23.01%. As a group, sell-side analysts forecast that Edwards Lifesciences Co. will post 2.76 EPS for the current year.

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.