Central Valley Advisors LLC Grows Position in Edwards Lifesciences Co. (NYSE:EW)

Central Valley Advisors LLC grew its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 7.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,494 shares of the medical research company’s stock after purchasing an additional 1,133 shares during the quarter. Central Valley Advisors LLC’s holdings in Edwards Lifesciences were worth $1,022,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Crewe Advisors LLC bought a new stake in Edwards Lifesciences during the first quarter worth about $28,000. First Community Trust NA purchased a new stake in Edwards Lifesciences in the second quarter worth approximately $29,000. Riverview Trust Co bought a new position in Edwards Lifesciences during the first quarter valued at approximately $34,000. Webster Bank N. A. bought a new position in Edwards Lifesciences during the second quarter valued at approximately $39,000. Finally, Peoples Bank KS purchased a new position in shares of Edwards Lifesciences during the third quarter worth approximately $40,000. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Stock Up 0.2 %

Shares of Edwards Lifesciences stock traded up $0.12 during midday trading on Friday, hitting $65.49. The company had a trading volume of 5,959,707 shares, compared to its average volume of 4,560,924. 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 stock has a market capitalization of $39.46 billion, a P/E ratio of 28.23, a P/E/G ratio of 2.80 and a beta of 1.13. The company has a 50 day moving average of $66.64 and a 200 day moving average of $81.09.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period last year, the company earned $0.66 earnings per share. The company’s revenue was up 6.7% on a year-over-year basis. On average, equities analysts predict that Edwards Lifesciences Co. will post 2.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $66.08, for a total value of $330,400.00. Following the completion of the transaction, the vice president now owns 46,936 shares in the company, valued at $3,101,530.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, VP Daveen Chopra sold 1,250 shares of the firm’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 value of $87,437.50. Following the sale, the vice president now owns 29,333 shares in the company, valued at approximately $2,051,843.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction on 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,250 shares of company stock worth $1,218,138 in the last three months. Insiders own 1.29% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Bank of America cut shares of Edwards Lifesciences from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $105.00 to $75.00 in a research report on Thursday, July 25th. Piper Sandler dropped their target price on Edwards Lifesciences from $88.00 to $73.00 and set a “neutral” rating for the company in a report on Thursday, July 25th. Jefferies Financial Group lowered Edwards Lifesciences from a “buy” rating to a “hold” rating and reduced their price target for the stock from $85.00 to $70.00 in a research report on Wednesday, September 18th. Barclays lowered their price objective on Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday, September 9th. Finally, Stifel Nicolaus cut their target price on shares of Edwards Lifesciences from $85.00 to $70.00 and set a “hold” rating on the stock in a report on Thursday, July 25th. Sixteen analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $78.23.

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.