Veritable L.P. decreased its position in Edwards Lifesciences Co. (NYSE:EW – Free Report) by 11.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,465 shares of the medical research company’s stock after selling 1,812 shares during the quarter. Veritable L.P.’s holdings in Edwards Lifesciences were worth $1,270,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in EW. Castleview Partners LLC purchased a new stake in shares of Edwards Lifesciences in the 1st quarter worth approximately $25,000. Altshuler Shaham Ltd purchased a new stake in shares of Edwards Lifesciences in the second quarter worth $31,000. Compass Wealth Management LLC bought a new position in shares of Edwards Lifesciences during the fourth quarter valued at $31,000. Jones Financial Companies Lllp purchased a new position in shares of Edwards Lifesciences in the 1st quarter worth about $33,000. Finally, Northwest Capital Management Inc bought a new position in Edwards Lifesciences in the 2nd quarter worth about $34,000. Hedge funds and other institutional investors own 79.25% of the company’s stock.
Analyst Ratings Changes
A number of analysts have weighed in on EW shares. Royal Bank of Canada reduced their price objective on shares of Edwards Lifesciences from $86.00 to $82.00 and set an “outperform” rating for the company in a research note on Thursday, October 26th. Mizuho decreased their price objective on shares of Edwards Lifesciences from $90.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, October 26th. Piper Sandler cut their target price on Edwards Lifesciences from $83.00 to $68.00 and set a “neutral” rating on the stock in a research note on Thursday, October 26th. Truist Financial reduced their target price on Edwards Lifesciences from $83.00 to $76.00 and set a “buy” rating for the company in a report on Thursday, October 26th. Finally, SVB Leerink assumed coverage on Edwards Lifesciences in a report on Monday, October 16th. They set a “market perform” rating and a $75.00 price target on the stock. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $84.29.
Edwards Lifesciences Stock Up 0.7 %
Shares of EW stock opened at $67.47 on Friday. Edwards Lifesciences Co. has a 12 month low of $60.57 and a 12 month high of $94.87. The company has a 50 day simple moving average of $69.23 and a two-hundred day simple moving average of $79.79. The company has a current ratio of 3.28, a quick ratio of 2.45 and a debt-to-equity ratio of 0.09. The stock has a market cap of $40.92 billion, a P/E ratio of 28.83, a P/E/G ratio of 3.74 and a beta of 1.02.
Edwards Lifesciences (NYSE:EW – Get Free Report) last announced its earnings results on Wednesday, October 25th. The medical research company reported $0.59 EPS for the quarter, hitting analysts’ consensus estimates of $0.59. Edwards Lifesciences had a return on equity of 24.54% and a net margin of 24.59%. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the firm earned $0.61 EPS. Edwards Lifesciences’s revenue for the quarter was up 12.3% compared to the same quarter last year. On average, research analysts expect that Edwards Lifesciences Co. will post 2.51 earnings per share for the current year.
In other Edwards Lifesciences news, VP Daveen Chopra sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $76.69, for a total value of $115,035.00. Following the completion of the transaction, the vice president now directly owns 23,950 shares in the company, valued at $1,836,725.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, VP Daveen Chopra sold 1,500 shares of the company’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $76.69, for a total value of $115,035.00. Following the completion of the transaction, the vice president now owns 23,950 shares of the company’s stock, valued at $1,836,725.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Michael A. Mussallem sold 29,350 shares of the stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $75.86, for a total value of $2,226,491.00. Following the sale, the director now owns 4,486 shares of the company’s stock, valued at approximately $340,307.96. The disclosure for this sale can be found here. Insiders have sold a total of 179,795 shares of company stock valued at $12,724,914 in the last ninety days. Corporate insiders own 1.29% of the company’s stock.
Edwards Lifesciences Company 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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