King Luther Capital Management Corp Has $427,000 Stock Holdings in Edwards Lifesciences Co. (NYSE:EW)

King Luther Capital Management Corp lowered its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 7.0% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,626 shares of the medical research company’s stock after selling 348 shares during the period. King Luther Capital Management Corp’s holdings in Edwards Lifesciences were worth $427,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of EW. Crewe Advisors LLC acquired a new position in Edwards Lifesciences during the 1st quarter worth approximately $28,000. First Community Trust NA acquired a new position in shares of Edwards Lifesciences during the second quarter worth $29,000. Riverview Trust Co acquired a new position in shares of Edwards Lifesciences during the first quarter worth $34,000. DSM Capital Partners LLC bought a new position in shares of Edwards Lifesciences in the 4th quarter valued at $28,000. Finally, Webster Bank N. A. acquired a new stake in shares of Edwards Lifesciences during the 2nd quarter valued at $39,000. 79.46% of the stock is currently owned by institutional investors.

Edwards Lifesciences Price Performance

Shares of NYSE EW opened at $66.83 on Monday. 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’s 50-day moving average price is $69.89 and its 200-day moving average price is $82.80. The firm has a market capitalization of $40.27 billion, a P/E ratio of 28.81, a P/E/G ratio of 2.85 and a beta of 1.13. Edwards Lifesciences Co. has a 1-year low of $58.93 and a 1-year high of $96.12.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.66 earnings per share. Equities research analysts anticipate that Edwards Lifesciences Co. will post 2.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Edwards Lifesciences

In other Edwards Lifesciences news, VP Daveen Chopra sold 1,250 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $2,051,843.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Daveen Chopra sold 1,250 shares of the stock in a transaction that occurred 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 directly owns 29,333 shares of the company’s stock, valued at $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 that occurred on Wednesday, July 10th. The shares were sold at an average price of $93.29, for a total value of $466,450.00. Following the transaction, the vice president now directly owns 46,936 shares in the company, valued at approximately $4,378,659.44. 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 owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Jefferies Financial Group cut Edwards Lifesciences from a “buy” rating to a “hold” rating and lowered their target price for the stock from $85.00 to $70.00 in a report on Wednesday, September 18th. Wolfe Research raised Edwards Lifesciences from an “underperform” rating to a “peer perform” rating in a research note on Monday, July 29th. Piper Sandler cut their target price on shares of Edwards Lifesciences from $88.00 to $73.00 and set a “neutral” rating on the stock in a research report on Thursday, July 25th. JPMorgan Chase & Co. cut shares of Edwards Lifesciences from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $105.00 to $72.00 in a research report on Thursday, July 25th. Finally, Royal Bank of Canada cut their price target on shares of Edwards Lifesciences from $101.00 to $85.00 and set an “outperform” rating on the stock in a 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 issued a strong buy rating to the stock. According to MarketBeat, Edwards Lifesciences has a consensus rating of “Hold” and a consensus target price of $79.82.

Edwards Lifesciences Company 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.