NFJ Investment Group LLC Sells 22,816 Shares of Edwards Lifesciences Co. (NYSE:EW)

NFJ Investment Group LLC reduced its position in Edwards Lifesciences Co. (NYSE:EW) by 98.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 382 shares of the medical research company’s stock after selling 22,816 shares during the period. NFJ Investment Group LLC’s holdings in Edwards Lifesciences were worth $28,000 as of its most recent SEC filing.

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

Insider Transactions at Edwards Lifesciences

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 9,500 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $69.81, for a total transaction of $663,195.00. Following the transaction, the vice president now owns 47,206 shares in the company, valued at approximately $3,295,450.86. This represents a 16.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Daniel J. Lippis sold 400 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $69.48, for a total value of $27,792.00. Following the completion of the sale, the vice president now owns 22,588 shares of the company’s stock, valued at $1,569,414.24. This trade represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,853 shares of company stock valued at $5,163,062 in the last 90 days. 1.29% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on EW shares. Royal Bank of Canada restated an “outperform” rating and set a $85.00 price objective on shares of Edwards Lifesciences in a research note on Wednesday, February 12th. Piper Sandler raised their price target on shares of Edwards Lifesciences from $70.00 to $73.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Evercore ISI reduced their price objective on shares of Edwards Lifesciences from $75.00 to $73.00 and set an “in-line” rating for the company in a research note on Wednesday, February 12th. Morgan Stanley increased their target price on shares of Edwards Lifesciences from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 12th. Finally, Canaccord Genuity Group lifted their price target on shares of Edwards Lifesciences from $68.00 to $71.00 and gave the stock a “hold” rating in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Edwards Lifesciences presently has an average rating of “Hold” and a consensus target price of $78.55.

Edwards Lifesciences Trading Up 0.5 %

NYSE EW opened at $71.56 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 company has a market capitalization of $42.07 billion, a PE ratio of 10.27, a P/E/G ratio of 4.82 and a beta of 1.15. The company has a fifty day moving average of $71.30 and a 200 day moving average of $70.80.

Edwards Lifesciences (NYSE:EW) last issued its earnings results on Tuesday, February 11th. The medical research company reported $0.59 EPS 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%. Research analysts forecast that Edwards Lifesciences Co. will post 2.45 earnings per share for the current year.

About Edwards Lifesciences

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.