Kentucky Retirement Systems Sells 649 Shares of Edwards Lifesciences Co. (NYSE:EW)

Kentucky Retirement Systems lowered its position in Edwards Lifesciences Co. (NYSE:EW) by 1.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 45,410 shares of the medical research company’s stock after selling 649 shares during the period. Kentucky Retirement Systems’ holdings in Edwards Lifesciences were worth $4,195,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Park Avenue Securities LLC raised its position in shares of 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 buying an additional 108 shares during the last quarter. City State Bank increased its holdings in Edwards Lifesciences by 16.5% in the 2nd quarter. City State Bank now owns 917 shares of the medical research company’s stock valued at $85,000 after acquiring an additional 130 shares during the last quarter. Chapin Davis Inc. lifted its stake in Edwards Lifesciences by 1.7% in the 1st 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 in the last quarter. Johnson Financial Group Inc. lifted its stake in Edwards Lifesciences by 23.0% in the 4th quarter. Johnson Financial Group Inc. now owns 771 shares of the medical research company’s stock worth $59,000 after purchasing an additional 144 shares in the last quarter. Finally, Valley National Advisers Inc. boosted its holdings in shares of Edwards Lifesciences by 6.0% during the 1st quarter. Valley National Advisers Inc. now owns 2,677 shares of the medical research company’s stock valued at $255,000 after purchasing an additional 152 shares during the last quarter. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Insider Activity at Edwards Lifesciences

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on EW shares. Piper Sandler reduced their target price on Edwards Lifesciences from $88.00 to $73.00 and set a “neutral” rating on the stock in a report on Thursday, July 25th. Truist Financial reduced their price objective on Edwards Lifesciences from $82.00 to $71.00 and set a “hold” rating on the stock in a research note on Friday, September 13th. Daiwa Capital Markets upgraded Edwards Lifesciences from a “neutral” rating to an “outperform” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group reduced their price target on shares of Edwards Lifesciences from $107.00 to $91.00 and set a “buy” rating on the stock in a research report on Friday, July 26th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $90.00 price target on shares of Edwards Lifesciences in a research note on Thursday, September 12th. Sixteen investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Edwards Lifesciences currently has a consensus rating of “Hold” and an average price target of $79.82.

Edwards Lifesciences Price Performance

Shares of EW stock opened at $67.26 on Friday. The stock has a 50 day moving average price of $70.37 and a 200 day moving average price of $83.00. Edwards Lifesciences Co. has a 52-week low of $58.93 and a 52-week high of $96.12. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.87 and a current ratio of 3.71. 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.

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