Phoenix Financial Ltd. Trims Holdings in Edwards Lifesciences Co. (NYSE:EW)

Phoenix Financial Ltd. reduced its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 9.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 44,309 shares of the medical research company’s stock after selling 4,524 shares during the period. Phoenix Financial Ltd.’s holdings in Edwards Lifesciences were worth $3,280,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Crowley Wealth Management Inc. purchased a new position in shares of Edwards Lifesciences during the fourth quarter worth about $26,000. Millstone Evans Group LLC acquired a new stake in Edwards Lifesciences during the 4th quarter worth approximately $29,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Edwards Lifesciences in the 4th quarter valued at approximately $30,000. Roble Belko & Company Inc acquired a new position in shares of Edwards Lifesciences in the fourth quarter valued at approximately $46,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Edwards Lifesciences during the fourth quarter worth approximately $54,000. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Canaccord Genuity Group lifted their price objective on shares of Edwards Lifesciences from $68.00 to $71.00 and gave the company a “hold” rating in a research report on Thursday, February 13th. Evercore ISI lowered their target price on shares of Edwards Lifesciences from $75.00 to $73.00 and set an “in-line” rating on the stock in a report on Wednesday, February 12th. Stifel Nicolaus raised shares of Edwards Lifesciences from a “hold” rating to a “buy” rating and increased their price target for the stock from $75.00 to $90.00 in a report on Thursday, January 30th. Piper Sandler lifted their price objective on Edwards Lifesciences from $70.00 to $73.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Finally, Barclays boosted their target price on Edwards Lifesciences from $88.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Edwards Lifesciences has a consensus rating of “Hold” and a consensus price target of $79.95.

Insider Activity at Edwards Lifesciences

In related news, CEO Bernard J. Zovighian sold 6,164 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $69.51, for a total value of $428,459.64. Following the completion of the transaction, the chief executive officer now directly owns 59,083 shares in the company, valued at approximately $4,106,859.33. This represents a 9.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Donald E. Bobo, Jr. sold 9,500 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $67.96, for a total value of $645,620.00. Following the transaction, the vice president now owns 46,936 shares in the company, valued at $3,189,770.56. This trade represents a 16.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 62,853 shares of company stock valued at $4,534,247. 1.29% of the stock is owned by insiders.

Edwards Lifesciences Trading Down 2.3 %

Shares of Edwards Lifesciences stock opened at $68.26 on Friday. Edwards Lifesciences Co. has a 1 year low of $58.93 and a 1 year high of $95.25. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89. The business has a 50 day moving average price of $71.36 and a 200 day moving average price of $70.67. The company has a market capitalization of $40.13 billion, a P/E ratio of 9.79, a P/E/G ratio of 4.82 and a beta of 1.15.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Tuesday, February 11th. The medical research company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. Sell-side analysts anticipate that Edwards Lifesciences Co. will post 2.45 EPS for the current fiscal 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.