Public Employees Retirement Association of Colorado Has $7.73 Million Holdings in Edwards Lifesciences Co. (NYSE:EW)

Public Employees Retirement Association of Colorado decreased its holdings in Edwards Lifesciences Co. (NYSE:EW) by 3.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 83,700 shares of the medical research company’s stock after selling 2,992 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Edwards Lifesciences were worth $7,731,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Crewe Advisors LLC acquired a new stake in shares of Edwards Lifesciences in the 1st quarter worth about $28,000. First Community Trust NA bought a new position in Edwards Lifesciences in the 2nd quarter worth approximately $29,000. Riverview Trust Co bought a new position in Edwards Lifesciences in the 1st quarter worth approximately $34,000. DSM Capital Partners LLC bought a new position in Edwards Lifesciences in the 4th quarter worth approximately $28,000. Finally, Webster Bank N. A. bought a new position in Edwards Lifesciences in the 2nd quarter valued at $39,000. Institutional investors own 79.46% of the company’s stock.

Wall Street Analyst Weigh In

EW has been the topic of several research reports. Citigroup raised their price objective on shares of Edwards Lifesciences from $105.00 to $106.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Piper Sandler decreased their price objective 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. Wolfe Research upgraded shares of Edwards Lifesciences from an “underperform” rating to a “peer perform” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. lowered shares of Edwards Lifesciences from an “overweight” rating to a “neutral” rating and cut their target price for the company from $105.00 to $72.00 in a research note on Thursday, July 25th. Finally, Royal Bank of Canada cut their target price on shares of Edwards Lifesciences from $101.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Sixteen 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 data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $79.82.

Insider Activity

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at $3,101,530.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were 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 directly owns 46,936 shares in the company, valued at $3,101,530.88. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Daveen Chopra sold 1,250 shares of the company’s stock in a transaction that occurred on 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 transaction, 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 sold 16,250 shares of company stock valued at $1,218,138 over the last three months. Insiders own 1.29% of the company’s stock.

Edwards Lifesciences Stock Down 0.6 %

EW opened at $66.83 on Friday. The company has a quick ratio of 2.87, a current ratio of 3.71 and a debt-to-equity ratio of 0.08. The firm has a 50 day moving average price of $69.89 and a 200-day moving average price of $82.83. Edwards Lifesciences Co. has a twelve month low of $58.93 and a twelve month high of $96.12. The stock has a market capitalization of $40.27 billion, a price-to-earnings ratio of 28.81, a PEG ratio of 2.85 and a beta of 1.13.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data 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 net margin of 24.55% and a return on equity of 22.35%. The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the previous year, the company earned $0.66 earnings per share. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. Equities research analysts forecast that Edwards Lifesciences Co. will post 2.7 earnings per share for the current year.

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.