Central Pacific Bank Trust Division Lowers Stake in Edwards Lifesciences Co. (NYSE:EW)

Central Pacific Bank Trust Division trimmed its holdings in Edwards Lifesciences Co. (NYSE:EW) by 36.2% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 7,736 shares of the medical research company’s stock after selling 4,382 shares during the period. Central Pacific Bank Trust Division’s holdings in Edwards Lifesciences were worth $510,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in EW. Price T Rowe Associates Inc. MD grew its position in Edwards Lifesciences by 57.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,516,260 shares of the medical research company’s stock valued at $622,695,000 after buying an additional 2,390,137 shares during the last quarter. CCLA Investment Management boosted its holdings in shares of Edwards Lifesciences by 100,739.7% in the first quarter. CCLA Investment Management now owns 1,406,714 shares of the medical research company’s stock valued at $134,092,000 after acquiring an additional 1,405,319 shares in the last quarter. Swedbank AB acquired a new position in shares of Edwards Lifesciences during the first quarter worth about $124,511,000. Sei Investments Co. raised its holdings in Edwards Lifesciences by 162.7% during the first quarter. Sei Investments Co. now owns 1,465,719 shares of the medical research company’s stock worth $140,064,000 after purchasing an additional 907,688 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted 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 valued at $1,827,347,000 after purchasing an additional 809,605 shares during the period. Institutional investors and hedge funds own 79.46% of the company’s stock.

Edwards Lifesciences Trading Up 0.3 %

Shares of EW stock opened at $65.37 on Friday. The company has a market capitalization of $39.39 billion, a price-to-earnings ratio of 28.18, a PEG ratio of 2.80 and a beta of 1.13. 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 50-day moving average price of $66.58 and a 200 day moving average price of $81.28. Edwards Lifesciences Co. has a twelve month low of $58.93 and a twelve month high of $96.12.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data on Wednesday, July 24th. The medical research company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the previous year, the business posted $0.66 earnings per share. The company’s revenue was up 6.7% on a year-over-year basis. Research analysts forecast that Edwards Lifesciences Co. will post 2.71 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on EW shares. Deutsche Bank Aktiengesellschaft cut their target price on Edwards Lifesciences from $103.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. TD Cowen cut Edwards Lifesciences from a “buy” rating to a “hold” rating and cut their price objective for the stock from $100.00 to $70.00 in a research report on Thursday, July 25th. Piper Sandler decreased 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. downgraded shares of Edwards Lifesciences from an “overweight” rating to a “neutral” rating and cut their price target for the company from $105.00 to $72.00 in a report on Thursday, July 25th. Finally, Oppenheimer reissued an “outperform” rating and set a $90.00 price objective on shares of Edwards Lifesciences in a report on Thursday, September 12th. Sixteen equities research 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 currently has a consensus rating of “Hold” and a consensus target price of $78.23.

Insiders Place Their Bets

In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction 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 $4,378,659.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $93.29, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Daveen Chopra sold 1,250 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were 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 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 have sold a total of 16,250 shares of company stock valued at $1,218,138 in the last quarter. 1.29% of the stock is currently owned by company insiders.

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.