Intech Investment Management LLC Cuts Stock Holdings in Edwards Lifesciences Co. (NYSE:EW)

Intech Investment Management LLC lowered its holdings in Edwards Lifesciences Co. (NYSE:EW) by 58.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 93,980 shares of the medical research company’s stock after selling 131,353 shares during the period. Intech Investment Management LLC’s holdings in Edwards Lifesciences were worth $8,681,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. boosted its position in Edwards Lifesciences by 1.1% in the first quarter. Vanguard Group Inc. now owns 52,964,394 shares of the medical research company’s stock worth $5,061,277,000 after purchasing an additional 600,994 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Edwards Lifesciences by 4.3% in the second quarter. Bank of New York Mellon Corp now owns 19,782,909 shares of the medical research company’s stock worth $1,827,347,000 after purchasing an additional 809,605 shares during the last quarter. Wellington Management Group LLP boosted its position in Edwards Lifesciences by 2.4% in the fourth quarter. Wellington Management Group LLP now owns 16,827,510 shares of the medical research company’s stock worth $1,283,098,000 after purchasing an additional 393,109 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Edwards Lifesciences by 57.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,516,260 shares of the medical research company’s stock worth $622,695,000 after purchasing an additional 2,390,137 shares during the last quarter. Finally, Sands Capital Management LLC boosted its position in Edwards Lifesciences by 34.6% in the fourth quarter. Sands Capital Management LLC now owns 6,103,702 shares of the medical research company’s stock worth $465,407,000 after purchasing an additional 1,567,526 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 related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $93.29, for a total transaction of $466,450.00. Following the completion of the sale, the vice president now directly owns 46,936 shares in the company, valued at approximately $4,378,659.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, 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 sale, 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction that occurred on 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 sale, the vice president now owns 46,936 shares of the company’s stock, valued at approximately $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 in the last ninety days. 1.29% of the stock is owned by company insiders.

Edwards Lifesciences Price Performance

Shares of Edwards Lifesciences stock opened at $66.84 on Friday. The company has a current ratio of 3.71, a quick ratio of 2.87 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $40.28 billion, a PE ratio of 28.81, a price-to-earnings-growth ratio of 2.85 and a beta of 1.13. The business’s 50-day moving average price is $69.89 and its 200-day moving average price is $82.86. Edwards Lifesciences Co. has a 12 month low of $58.93 and a 12 month high of $96.12.

Edwards Lifesciences (NYSE:EW) last announced 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 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 company’s revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.66 EPS. Sell-side analysts forecast that Edwards Lifesciences Co. will post 2.7 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on EW shares. JPMorgan Chase & Co. cut Edwards Lifesciences from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $105.00 to $72.00 in a research report on Thursday, July 25th. Bank of America cut Edwards Lifesciences from a “buy” rating to a “neutral” rating and dropped their price target for the company from $105.00 to $75.00 in a research report on Thursday, July 25th. The Goldman Sachs Group dropped their price target on Edwards Lifesciences from $107.00 to $91.00 and set a “buy” rating on the stock in a research report on Friday, July 26th. Wolfe Research raised Edwards Lifesciences from an “underperform” rating to a “peer perform” rating in a research report on Monday, July 29th. Finally, Jefferies Financial Group cut Edwards Lifesciences from a “buy” rating to a “hold” rating and dropped their price target for the company from $85.00 to $70.00 in a research report on Wednesday. Sixteen analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average 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.