Wetherby Asset Management Inc. Lowers Position in Edwards Lifesciences Co. (NYSE:EW)

Wetherby Asset Management Inc. cut its stake in Edwards Lifesciences Co. (NYSE:EWGet Rating) by 2.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 12,918 shares of the medical research company’s stock after selling 333 shares during the quarter. Wetherby Asset Management Inc.’s holdings in Edwards Lifesciences were worth $1,521,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. American National Bank lifted its holdings in Edwards Lifesciences by 99.1% in the first quarter. American National Bank now owns 233 shares of the medical research company’s stock worth $27,000 after buying an additional 116 shares during the period. Core Alternative Capital lifted its holdings in shares of Edwards Lifesciences by 513.2% during the first quarter. Core Alternative Capital now owns 233 shares of the medical research company’s stock valued at $27,000 after purchasing an additional 195 shares during the last quarter. Rinkey Investments purchased a new position in shares of Edwards Lifesciences during the fourth quarter valued at approximately $29,000. JJJ Advisors Inc. lifted its holdings in shares of Edwards Lifesciences by 79.1% during the first quarter. JJJ Advisors Inc. now owns 283 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 125 shares during the last quarter. Finally, Gemmer Asset Management LLC purchased a new position in shares of Edwards Lifesciences during the first quarter valued at approximately $36,000. 81.33% of the stock is currently owned by hedge funds and other institutional investors.

Edwards Lifesciences Trading Up 1.8 %

NYSE:EW opened at $97.25 on Monday. The company has a current ratio of 3.37, a quick ratio of 2.60 and a debt-to-equity ratio of 0.10. Edwards Lifesciences Co. has a 12 month low of $85.58 and a 12 month high of $131.73. The company has a market cap of $60.29 billion, a PE ratio of 42.10, a price-to-earnings-growth ratio of 2.87 and a beta of 1.14. The company has a 50 day simple moving average of $98.52 and a two-hundred day simple moving average of $102.98.

Edwards Lifesciences (NYSE:EWGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The medical research company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). Edwards Lifesciences had a net margin of 27.18% and a return on equity of 24.77%. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the firm earned $0.64 EPS. The company’s revenue was down .2% on a year-over-year basis. Research analysts forecast that Edwards Lifesciences Co. will post 2.51 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Morgan Stanley lowered their target price on shares of Edwards Lifesciences from $136.00 to $119.00 and set an “overweight” rating for the company in a report on Friday, July 15th. Citigroup lowered their target price on shares of Edwards Lifesciences from $134.00 to $115.00 and set a “buy” rating for the company in a report on Tuesday, May 17th. Canaccord Genuity Group lowered shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and lowered their target price for the company from $115.00 to $106.00 in a report on Friday, July 29th. StockNews.com raised shares of Edwards Lifesciences from a “hold” rating to a “buy” rating in a research report on Wednesday, August 17th. Finally, Cowen reduced their price target on shares of Edwards Lifesciences from $140.00 to $125.00 in a research report on Monday, July 11th. Three research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $126.19.

Insider Buying and Selling

In related news, CEO Michael A. Mussallem sold 19,875 shares of the firm’s stock in a transaction on Tuesday, June 14th. The stock was sold at an average price of $86.96, for a total value of $1,728,330.00. Following the transaction, the chief executive officer now directly owns 157,353 shares of the company’s stock, valued at approximately $13,683,416.88. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Michael A. Mussallem sold 19,875 shares of the firm’s stock in a transaction on Tuesday, June 14th. The stock was sold at an average price of $86.96, for a total value of $1,728,330.00. Following the transaction, the chief executive officer now directly owns 157,353 shares of the company’s stock, valued at approximately $13,683,416.88. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Bernard J. Zovighian sold 4,811 shares of the firm’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $103.66, for a total value of $498,708.26. Following the completion of the transaction, the vice president now directly owns 21,247 shares in the company, valued at $2,202,464.02. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,128 shares of company stock valued at $8,279,290. 1.29% of the stock is owned by company insiders.

Edwards Lifesciences Profile

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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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Institutional Ownership by Quarter for Edwards Lifesciences (NYSE:EW)

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