Wendell David Associates Inc. Trims Position in Edwards Lifesciences Co. (NYSE:EW)

Wendell David Associates Inc. reduced its position in Edwards Lifesciences Co. (NYSE:EW) by 20.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 18,795 shares of the medical research company’s stock after selling 4,880 shares during the period. Wendell David Associates Inc.’s holdings in Edwards Lifesciences were worth $1,391,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of EW. Wellington Management Group LLP lifted its holdings in shares of Edwards Lifesciences by 86.3% during the 3rd quarter. Wellington Management Group LLP now owns 31,532,725 shares of the medical research company’s stock worth $2,080,845,000 after acquiring an additional 14,610,123 shares during the period. State Street Corp increased its position in shares of Edwards Lifesciences by 1.0% in the third quarter. State Street Corp now owns 26,265,633 shares of the medical research company’s stock worth $1,733,270,000 after acquiring an additional 256,538 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Edwards Lifesciences by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 13,521,147 shares of the medical research company’s stock valued at $889,050,000 after acquiring an additional 284,918 shares in the last quarter. Fisher Asset Management LLC boosted its position in Edwards Lifesciences by 9.8% during the 3rd quarter. Fisher Asset Management LLC now owns 9,078,311 shares of the medical research company’s stock worth $599,078,000 after purchasing an additional 806,705 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Edwards Lifesciences by 1.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,005,789 shares of the medical research company’s stock worth $396,322,000 after purchasing an additional 61,275 shares during the period. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $65.57, for a total transaction of $327,850.00. Following the transaction, the vice president now owns 46,936 shares in the company, valued at $3,077,593.52. This represents a 9.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Daniel J. Lippis sold 500 shares of the firm’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $68.76, for a total transaction of $34,380.00. Following the completion of the transaction, the vice president now owns 23,189 shares in the company, valued at $1,594,475.64. The trade was a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,000 shares of company stock worth $2,195,180 over the last 90 days. 1.29% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on EW. Piper Sandler reduced their price objective on Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Barclays increased their price objective on shares of Edwards Lifesciences from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Canaccord Genuity Group boosted their target price on shares of Edwards Lifesciences from $63.00 to $68.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Truist Financial restated a “hold” rating and set a $78.00 target price (up from $70.00) on shares of Edwards Lifesciences in a research note on Thursday, December 5th. Finally, Royal Bank of Canada lifted their price target on shares of Edwards Lifesciences from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $78.48.

Edwards Lifesciences Trading Down 1.4 %

Edwards Lifesciences stock opened at $68.99 on Thursday. The firm has a 50-day moving average price of $72.20 and a two-hundred day moving average price of $70.87. Edwards Lifesciences Co. has a 52-week low of $58.93 and a 52-week high of $96.12. The firm has a market capitalization of $40.69 billion, a price-to-earnings ratio of 9.96, a PEG ratio of 3.59 and a beta of 1.11. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06.

Edwards Lifesciences (NYSE:EW) last announced its earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.67. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.57 billion. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. Edwards Lifesciences’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.59 EPS. Sell-side analysts expect that Edwards Lifesciences Co. will post 2.56 earnings per share for the current year.

Edwards Lifesciences Company 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.