Cambridge Investment Research Advisors Inc. lessened its stake in shares of Edwards Lifesciences Co. (NYSE:EW – Free Report) by 3.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 38,381 shares of the medical research company’s stock after selling 1,442 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Edwards Lifesciences were worth $3,620,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of EW. Alliancebernstein L.P. boosted its holdings in shares of Edwards Lifesciences by 27.5% in the 4th quarter. Alliancebernstein L.P. now owns 21,874,280 shares of the medical research company’s stock valued at $1,632,040,000 after acquiring an additional 4,712,819 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Edwards Lifesciences by 3.8% in the 1st quarter. Wellington Management Group LLP now owns 15,850,055 shares of the medical research company’s stock valued at $1,311,275,000 after acquiring an additional 578,319 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in Edwards Lifesciences by 104,971.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 15,399,249 shares of the medical research company’s stock worth $1,148,938,000 after buying an additional 15,384,593 shares in the last quarter. Brown Advisory Inc. boosted its holdings in Edwards Lifesciences by 0.8% during the fourth quarter. Brown Advisory Inc. now owns 14,341,102 shares of the medical research company’s stock worth $1,069,990,000 after buying an additional 115,268 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Edwards Lifesciences by 0.6% during the first quarter. Geode Capital Management LLC now owns 12,214,619 shares of the medical research company’s stock worth $1,008,114,000 after buying an additional 78,376 shares in the last quarter. Hedge funds and other institutional investors own 79.25% of the company’s stock.
Analyst Upgrades and Downgrades
EW has been the topic of a number of recent analyst reports. Piper Sandler lowered their price target on shares of Edwards Lifesciences from $88.00 to $83.00 and set a “neutral” rating on the stock in a report on Friday, September 8th. Mizuho increased their price target on shares of Edwards Lifesciences from $95.00 to $102.00 in a report on Monday, July 17th. TheStreet downgraded shares of Edwards Lifesciences from a “b-” rating to a “c+” rating in a report on Wednesday, August 9th. Morgan Stanley reissued an “overweight” rating and set a $102.00 price target on shares of Edwards Lifesciences in a report on Friday, July 14th. Finally, Oppenheimer upgraded shares of Edwards Lifesciences from a “market perform” rating to an “outperform” rating and set a $90.00 price objective for the company in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Edwards Lifesciences presently has a consensus rating of “Hold” and an average target price of $92.30.
Insiders Place Their Bets
In other Edwards Lifesciences news, insider Larry L. Wood sold 8,660 shares of the stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $73.63, for a total transaction of $637,635.80. Following the completion of the transaction, the insider now owns 213,794 shares of the company’s stock, valued at $15,741,652.22. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Larry L. Wood sold 8,660 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $73.63, for a total value of $637,635.80. Following the completion of the transaction, the insider now owns 213,794 shares of the company’s stock, valued at $15,741,652.22. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Scott B. Ullem sold 7,255 shares of the firm’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $93.27, for a total transaction of $676,673.85. Following the completion of the transaction, the chief financial officer now directly owns 19,248 shares of the company’s stock, valued at approximately $1,795,260.96. The disclosure for this sale can be found here. Insiders sold a total of 174,359 shares of company stock valued at $14,301,522 over the last 90 days. 1.29% of the stock is owned by company insiders.
Edwards Lifesciences Price Performance
Shares of NYSE EW opened at $70.11 on Thursday. Edwards Lifesciences Co. has a 52 week low of $67.13 and a 52 week high of $94.87. The stock has a market capitalization of $42.62 billion, a price-to-earnings ratio of 31.13, a price-to-earnings-growth ratio of 3.75 and a beta of 1.03. The firm has a 50-day simple moving average of $78.36 and a 200-day simple moving average of $83.62. The company has a quick ratio of 2.30, a current ratio of 3.15 and a debt-to-equity ratio of 0.09.
Edwards Lifesciences (NYSE:EW – Get Free Report) last released its quarterly earnings data on Wednesday, July 26th. The medical research company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.01. Edwards Lifesciences had a net margin of 24.56% and a return on equity of 25.43%. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same period last year, the business earned $0.63 earnings per share. Edwards Lifesciences’s revenue was up 11.4% compared to the same quarter last year. On average, equities analysts predict that Edwards Lifesciences Co. will post 2.55 earnings per share for the current fiscal year.
Edwards Lifesciences Profile
Edwards Lifesciences Corporation provides products and technologies for structural heart disease, and critical care and surgical monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of heart valves; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases.
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