Thrivent Financial for Lutherans Lowers Stock Holdings in Edwards Lifesciences Co. (NYSE:EW)

Thrivent Financial for Lutherans lessened its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 1.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,345,238 shares of the medical research company’s stock after selling 19,997 shares during the period. Thrivent Financial for Lutherans owned about 0.22% of Edwards Lifesciences worth $124,260,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its stake 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 buying an additional 2,390,137 shares in the last quarter. CIBC Private Wealth Group LLC lifted its stake in shares of Edwards Lifesciences by 197.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 3,446,758 shares of the medical research company’s stock worth $262,815,000 after purchasing an additional 2,286,119 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Edwards Lifesciences by 9.5% during the first quarter. Bank of New York Mellon Corp now owns 18,973,304 shares of the medical research company’s stock valued at $1,813,089,000 after purchasing an additional 1,644,869 shares in the last quarter. Sands Capital Management LLC grew its stake 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 valued at $465,407,000 after purchasing an additional 1,567,526 shares during the last quarter. Finally, CCLA Investment Management raised its holdings in 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 worth $134,092,000 after purchasing an additional 1,405,319 shares in the last quarter. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Citigroup lifted their price objective on shares of Edwards Lifesciences from $105.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Truist Financial reduced their price target on Edwards Lifesciences from $82.00 to $71.00 and set a “hold” rating on the stock in a research report on Friday, September 13th. Daiwa Capital Markets upgraded Edwards Lifesciences from a “neutral” rating to an “outperform” rating in a research note on Wednesday, July 31st. Evercore ISI decreased their price objective on shares of Edwards Lifesciences from $91.00 to $76.00 and set an “in-line” rating for the company in a research report on Thursday, July 25th. Finally, StockNews.com downgraded shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Sixteen equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $79.82.

Edwards Lifesciences Stock Performance

NYSE:EW opened at $66.84 on Friday. The stock has a market capitalization of $40.28 billion, a P/E ratio of 28.81, a PEG ratio of 2.85 and a beta of 1.13. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.87 and a current ratio of 3.71. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $96.12. The company has a 50 day moving average price of $69.89 and a 200 day moving average price of $82.86.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data on Wednesday, July 24th. The medical research company reported $0.70 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the previous year, the business earned $0.66 EPS. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. Equities research analysts forecast that Edwards Lifesciences Co. will post 2.7 EPS for the current year.

Insiders Place Their Bets

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $66.77, for a total transaction of $333,850.00. Following the completion of the transaction, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,133,916.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other 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 value of $87,437.50. Following the transaction, the vice president now owns 29,333 shares in the company, valued at approximately $2,051,843.35. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $66.77, for a total value of $333,850.00. Following the sale, the vice president now directly owns 46,936 shares in the company, valued at approximately $3,133,916.72. The disclosure for this sale can be found here. Insiders have sold a total of 16,250 shares of company stock worth $1,218,138 in the last ninety days. 1.29% of the stock is owned by corporate 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.