First Hawaiian Bank Decreases Position in Edwards Lifesciences Co. (NYSE:EW)

First Hawaiian Bank lowered its position in Edwards Lifesciences Co. (NYSE:EW) by 5.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,174 shares of the medical research company’s stock after selling 294 shares during the quarter. First Hawaiian Bank’s holdings in Edwards Lifesciences were worth $494,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC increased its holdings in Edwards Lifesciences by 12.7% during the 1st quarter. GAMMA Investing LLC now owns 2,587 shares of the medical research company’s stock valued at $247,000 after acquiring an additional 292 shares in the last quarter. CWM LLC increased its stake in shares of Edwards Lifesciences by 45.9% during the 1st quarter. CWM LLC now owns 25,519 shares of the medical research company’s stock worth $2,439,000 after purchasing an additional 8,026 shares in the last quarter. Cullen Investment Group LTD. raised its position in shares of Edwards Lifesciences by 6.5% during the 1st quarter. Cullen Investment Group LTD. now owns 19,259 shares of the medical research company’s stock worth $1,816,000 after purchasing an additional 1,171 shares during the last quarter. Nomura Holdings Inc. acquired a new position in shares of Edwards Lifesciences during the 4th quarter worth approximately $933,000. Finally, HighPoint Advisor Group LLC purchased a new stake in Edwards Lifesciences in the 4th quarter valued at approximately $955,000. Institutional investors and hedge funds own 79.46% of the company’s stock.

Edwards Lifesciences Trading Up 2.3 %

NYSE EW opened at $90.90 on Friday. The firm has a market capitalization of $54.78 billion, a price-to-earnings ratio of 39.18, a PEG ratio of 3.24 and a beta of 1.11. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.67 and a current ratio of 3.75. Edwards Lifesciences Co. has a one year low of $60.57 and a one year high of $96.12. The company’s 50 day moving average price is $87.46 and its 200 day moving average price is $84.43.

Edwards Lifesciences (NYSE:EW) last issued its earnings results on Thursday, April 25th. The medical research company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. Edwards Lifesciences had a net margin of 23.01% and a return on equity of 22.86%. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.58 billion. On average, sell-side analysts predict that Edwards Lifesciences Co. will post 2.77 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Bernard J. Zovighian bought 580 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were acquired at an average cost of $85.74 per share, for a total transaction of $49,729.20. Following the acquisition, the chief executive officer now owns 3,268 shares in the company, valued at approximately $280,198.32. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Bernard J. Zovighian purchased 580 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was acquired at an average cost of $85.74 per share, with a total value of $49,729.20. Following the acquisition, the chief executive officer now owns 3,268 shares in the company, valued at $280,198.32. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $87.54, for a total transaction of $437,700.00. Following the sale, the vice president now directly owns 46,936 shares in the company, valued at approximately $4,108,777.44. The disclosure for this sale can be found here. Insiders have sold a total of 127,104 shares of company stock worth $11,267,464 over the last quarter. 1.29% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on EW shares. Oppenheimer upped their price objective on Edwards Lifesciences from $93.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, March 18th. Bank of America raised shares of Edwards Lifesciences from a “neutral” rating to a “buy” rating in a research note on Thursday, March 7th. Piper Sandler boosted their price objective on shares of Edwards Lifesciences from $85.00 to $88.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. Barclays raised their target price on shares of Edwards Lifesciences from $100.00 to $101.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. Finally, Wells Fargo & Company boosted their price target on Edwards Lifesciences from $94.00 to $99.00 and gave the company an “overweight” rating in a report on Friday, April 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $95.06.

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.