Edwards Lifesciences Co. (NYSE:EW) Shares Sold by 1832 Asset Management L.P.

1832 Asset Management L.P. reduced its position in shares of Edwards Lifesciences Co. (NYSE:EW) by 9.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 277,458 shares of the medical research company’s stock after selling 29,839 shares during the period. 1832 Asset Management L.P.’s holdings in Edwards Lifesciences were worth $25,629,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Frank Rimerman Advisors LLC grew its holdings in shares of Edwards Lifesciences by 32,257.1% in the second quarter. Frank Rimerman Advisors LLC now owns 6,795 shares of the medical research company’s stock valued at $628,000 after purchasing an additional 6,774 shares in the last quarter. ProShare Advisors LLC boosted its position in Edwards Lifesciences by 7.2% in the 2nd quarter. ProShare Advisors LLC now owns 88,565 shares of the medical research company’s stock valued at $8,181,000 after buying an additional 5,944 shares during the period. Sei Investments Co. increased its position in shares of Edwards Lifesciences by 6.1% during the second quarter. Sei Investments Co. now owns 1,554,851 shares of the medical research company’s stock worth $143,621,000 after acquiring an additional 89,132 shares during the period. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Edwards Lifesciences by 30.9% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 472,895 shares of the medical research company’s stock valued at $43,681,000 after acquiring an additional 111,605 shares in the last quarter. Finally, AE Wealth Management LLC boosted its holdings in Edwards Lifesciences by 14.8% in the second quarter. AE Wealth Management LLC now owns 4,618 shares of the medical research company’s stock valued at $427,000 after purchasing an additional 594 shares during the period. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Stock Performance

Shares of EW opened at $67.33 on Tuesday. The company’s 50 day simple moving average is $69.45 and its 200-day simple moving average is $82.61. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $96.12. The firm has a market cap of $40.57 billion, a PE ratio of 29.02, a price-to-earnings-growth ratio of 2.85 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.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings data 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. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period last year, the firm posted $0.66 EPS. Edwards Lifesciences’s revenue for the quarter was up 6.7% on a year-over-year basis. As a group, equities analysts predict that Edwards Lifesciences Co. will post 2.7 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on EW. Wells Fargo & Company reduced their price target on Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Monday, September 9th. Bank of America downgraded shares of Edwards Lifesciences from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $105.00 to $75.00 in a research note on Thursday, July 25th. Daiwa America raised shares of Edwards Lifesciences to a “strong-buy” rating in a research report on Wednesday, July 31st. Truist Financial decreased their price objective on shares of Edwards Lifesciences from $82.00 to $71.00 and set a “hold” rating for the company in a research report on Friday, September 13th. Finally, UBS Group dropped their target price on Edwards Lifesciences from $90.00 to $75.00 and set a “neutral” rating on the stock in a report on Tuesday, September 10th. 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $79.82.

Insider Buying and Selling at Edwards Lifesciences

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction that occurred 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 transaction, the vice president now directly owns 46,936 shares in the company, valued at approximately $3,101,530.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’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 completion of the transaction, the vice president now owns 46,936 shares in the company, valued at approximately $3,101,530.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Daveen Chopra sold 1,250 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total transaction of $87,437.50. Following the transaction, the vice president now owns 29,333 shares in the company, valued at $2,051,843.35. The disclosure for this sale can be found here. Insiders sold a total of 16,250 shares of company stock valued at $1,218,138 in the last ninety days. Insiders own 1.29% of the company’s stock.

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.