Castle Rock Wealth Management LLC Cuts Holdings in Edwards Lifesciences Co. (NYSE:EW)

Castle Rock Wealth Management LLC trimmed its position in Edwards Lifesciences Co. (NYSE:EW) by 35.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,025 shares of the medical research company’s stock after selling 2,230 shares during the period. Castle Rock Wealth Management LLC’s holdings in Edwards Lifesciences were worth $259,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Boston Common Asset Management LLC lifted its stake in shares of Edwards Lifesciences by 4.0% during the third quarter. Boston Common Asset Management LLC now owns 207,924 shares of the medical research company’s stock worth $13,721,000 after buying an additional 7,973 shares during the period. Capital Insight Partners LLC lifted its position in Edwards Lifesciences by 7.7% during the third quarter. Capital Insight Partners LLC now owns 60,328 shares of the medical research company’s stock valued at $3,981,000 after purchasing an additional 4,290 shares during the period. Tobam lifted its position in Edwards Lifesciences by 2,756.8% during the third quarter. Tobam now owns 75,647 shares of the medical research company’s stock valued at $4,992,000 after purchasing an additional 72,999 shares during the period. BSN CAPITAL PARTNERS Ltd purchased a new position in Edwards Lifesciences in the third quarter valued at $11,746,000. Finally, Diversified Trust Co increased its holdings in Edwards Lifesciences by 2.4% in the third quarter. Diversified Trust Co now owns 26,649 shares of the medical research company’s stock valued at $1,759,000 after buying an additional 620 shares in the last quarter. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Edwards Lifesciences Price Performance

Shares of NYSE:EW opened at $68.13 on Friday. Edwards Lifesciences Co. has a 12 month low of $58.93 and a 12 month high of $96.12. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.71 and a quick ratio of 2.87. The firm has a market capitalization of $41.04 billion, a P/E ratio of 28.04, a P/E/G ratio of 2.83 and a beta of 1.13. The company’s fifty day moving average price is $67.13 and its 200 day moving average price is $80.17.

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, sell-side analysts predict that Edwards Lifesciences Co. will post 2.71 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

EW has been the subject of a number of research reports. Piper Sandler cut their target price on shares of Edwards Lifesciences from $88.00 to $73.00 and set a “neutral” rating for the company in a research note on Thursday, July 25th. Barclays cut their price objective on shares of Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Monday, September 9th. Robert W. Baird cut shares of Edwards Lifesciences from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $102.00 to $70.00 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. Finally, Truist Financial lowered 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. Seventeen research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $75.77.

Insider Activity

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction dated 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Edwards Lifesciences news, VP Daveen Chopra sold 1,250 shares of Edwards Lifesciences stock in a transaction dated 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 transaction, the vice president now owns 29,333 shares in the company, valued at approximately $2,051,843.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $66.08, for a total transaction of $330,400.00. Following the transaction, the vice president now owns 46,936 shares of the company’s stock, valued at approximately $3,101,530.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,250 shares of company stock valued at $751,688 over the last quarter. Corporate insiders own 1.29% of the company’s stock.

Edwards Lifesciences Company 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.