Bridges Investment Management Inc. Sells 86,165 Shares of Edwards Lifesciences Co. (NYSE:EW)

Bridges Investment Management Inc. decreased its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 53.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,247 shares of the medical research company’s stock after selling 86,165 shares during the quarter. Bridges Investment Management Inc.’s holdings in Edwards Lifesciences were worth $6,951,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Park Avenue Securities LLC grew its stake in Edwards Lifesciences by 0.5% during the second quarter. Park Avenue Securities LLC now owns 23,484 shares of the medical research company’s stock valued at $2,169,000 after acquiring an additional 108 shares in the last quarter. City State Bank increased its holdings in shares of Edwards Lifesciences by 16.5% in the second quarter. City State Bank now owns 917 shares of the medical research company’s stock worth $85,000 after purchasing an additional 130 shares during the period. Chapin Davis Inc. increased its holdings in shares of Edwards Lifesciences by 1.7% in the first quarter. Chapin Davis Inc. now owns 8,548 shares of the medical research company’s stock worth $817,000 after purchasing an additional 140 shares during the period. Johnson Financial Group Inc. boosted its stake in Edwards Lifesciences by 23.0% during the fourth quarter. Johnson Financial Group Inc. now owns 771 shares of the medical research company’s stock valued at $59,000 after buying an additional 144 shares during the period. Finally, Valley National Advisers Inc. boosted its stake in Edwards Lifesciences by 6.0% during the first quarter. Valley National Advisers Inc. now owns 2,677 shares of the medical research company’s stock valued at $255,000 after buying an additional 152 shares during the period. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Trading Down 0.4 %

NYSE:EW opened at $67.26 on Friday. The firm has a market capitalization of $40.53 billion, a P/E ratio of 28.99, a P/E/G ratio of 2.85 and a beta of 1.13. The company has a quick ratio of 2.87, a current ratio of 3.71 and a debt-to-equity ratio of 0.08. The company has a fifty day moving average of $70.37 and a 200 day moving average of $83.00. Edwards Lifesciences Co. has a 52 week low of $58.93 and a 52 week high of $96.12.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings data on Wednesday, July 24th. The medical research company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.65 billion. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.66 earnings per share. On average, research analysts predict that Edwards Lifesciences Co. will post 2.7 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $66.08, for a total transaction of $330,400.00. Following the transaction, the vice president now directly owns 46,936 shares of the company’s stock, valued at $3,101,530.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total transaction of $330,400.00. Following the sale, the vice president now owns 46,936 shares of the company’s stock, valued at approximately $3,101,530.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Daveen Chopra sold 1,250 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total transaction of $87,437.50. Following the completion of the transaction, the vice president now directly owns 29,333 shares of the company’s stock, valued at $2,051,843.35. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,250 shares of company stock worth $1,218,138. 1.29% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on EW shares. TD Cowen cut Edwards Lifesciences from a “buy” rating to a “hold” rating and lowered their price target for the company from $100.00 to $70.00 in a report on Thursday, July 25th. JPMorgan Chase & Co. downgraded shares of Edwards Lifesciences from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $105.00 to $72.00 in a research note on Thursday, July 25th. Wolfe Research raised shares of Edwards Lifesciences from an “underperform” rating to a “peer perform” rating in a research note on Monday, July 29th. Evercore ISI lowered their price objective on shares of Edwards Lifesciences from $91.00 to $76.00 and set an “in-line” rating on the stock in a research report on Thursday, July 25th. Finally, Robert W. Baird lowered shares of Edwards Lifesciences from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $102.00 to $70.00 in a research report on Thursday, July 25th. Sixteen equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $79.82.

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.