Brown Brothers Harriman & Co. Trims Stock Position in Edwards Lifesciences Co. (NYSE:EW)

Brown Brothers Harriman & Co. cut its holdings in Edwards Lifesciences Co. (NYSE:EW) by 20.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 960 shares of the medical research company’s stock after selling 254 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Edwards Lifesciences were worth $89,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of EW. DSM Capital Partners LLC acquired a new stake in Edwards Lifesciences during the 4th quarter valued at $28,000. Crewe Advisors LLC purchased a new stake in shares of Edwards Lifesciences in the first quarter valued at $28,000. First Community Trust NA acquired a new stake in shares of Edwards Lifesciences during the second quarter valued at $29,000. Riverview Trust Co purchased a new stake in Edwards Lifesciences during the 1st quarter worth about $34,000. Finally, Pingora Partners LLC acquired a new position in Edwards Lifesciences in the 4th quarter valued at about $38,000. 79.46% of the stock is owned by hedge funds and other institutional investors.

Edwards Lifesciences Stock Up 0.4 %

NYSE EW opened at $67.53 on Thursday. The company has a quick ratio of 2.87, a current ratio of 3.71 and a debt-to-equity ratio of 0.08. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $96.12. The business has a 50 day moving average price of $70.89 and a two-hundred day moving average price of $83.11. The stock has a market cap of $40.69 billion, a PE ratio of 29.11, a P/E/G ratio of 2.85 and a beta of 1.13.

Edwards Lifesciences (NYSE:EW) last posted its earnings results on Wednesday, July 24th. The medical research company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.66 earnings per share. As a group, sell-side analysts predict that Edwards Lifesciences Co. will post 2.7 EPS for the current fiscal year.

Insider Activity

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $93.29, for a total value of $466,450.00. Following the transaction, the vice president now owns 46,936 shares in the company, valued at $4,378,659.44. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, VP Daveen Chopra sold 1,250 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total value of $87,437.50. Following the sale, the vice president now owns 29,333 shares in the company, valued at approximately $2,051,843.35. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $93.29, for a total value of $466,450.00. Following the completion of the transaction, the vice president now owns 46,936 shares of the company’s stock, valued at $4,378,659.44. The disclosure for this sale can be found here. Insiders sold 16,250 shares of company stock worth $1,218,138 over the last ninety days. Corporate insiders own 1.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on EW shares. JPMorgan Chase & Co. downgraded shares of Edwards Lifesciences from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $105.00 to $72.00 in a report on Thursday, July 25th. Barclays cut their price target on Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Monday, September 9th. Truist Financial decreased their price objective on Edwards Lifesciences from $82.00 to $71.00 and set a “hold” rating on the stock in a report on Friday, September 13th. Royal Bank of Canada lowered their price objective on Edwards Lifesciences from $101.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Finally, Citigroup upped their price target on shares of Edwards Lifesciences from $105.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Sixteen equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Edwards Lifesciences currently has a consensus rating of “Hold” and a consensus target price of $79.82.

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.