Harrell Investment Partners LLC Cuts Stake in Edwards Lifesciences Co. (NYSE:EW)

Harrell Investment Partners LLC cut its stake in Edwards Lifesciences Co. (NYSE:EW) by 3.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,863 shares of the medical research company’s stock after selling 877 shares during the quarter. Harrell Investment Partners LLC’s holdings in Edwards Lifesciences were worth $1,575,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its stake in Edwards Lifesciences by 57.9% during the 1st 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 purchasing an additional 2,390,137 shares during the last quarter. CCLA Investment Management boosted its position in Edwards Lifesciences by 100,739.7% during the first quarter. CCLA Investment Management now owns 1,406,714 shares of the medical research company’s stock worth $134,092,000 after acquiring an additional 1,405,319 shares during the last quarter. Swedbank AB purchased a new stake in Edwards Lifesciences during the 1st quarter valued at about $124,511,000. Sei Investments Co. raised its holdings in Edwards Lifesciences by 162.7% in the 1st quarter. Sei Investments Co. now owns 1,465,719 shares of the medical research company’s stock valued at $140,064,000 after acquiring an additional 907,688 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Edwards Lifesciences by 4.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 19,782,909 shares of the medical research company’s stock worth $1,827,347,000 after purchasing an additional 809,605 shares in the last quarter. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Daveen Chopra sold 1,250 shares of the company’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 transaction of $87,437.50. Following the sale, the vice president now directly owns 29,333 shares in the company, valued at approximately $2,051,843.35. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences 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 sale, the vice president now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Daveen Chopra sold 1,250 shares of the stock in a transaction 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 completion of the transaction, the vice president now directly owns 29,333 shares in the company, valued at $2,051,843.35. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,250 shares of company stock valued at $751,688 in the last three months. 1.29% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

EW has been the subject of several recent research reports. Truist Financial cut their price target on Edwards Lifesciences from $82.00 to $71.00 and set a “hold” rating for the company in a report on Friday, September 13th. Royal Bank of Canada reduced their price target on Edwards Lifesciences from $85.00 to $75.00 and set an “outperform” rating on the stock in a report on Tuesday, October 8th. Daiwa America raised shares of Edwards Lifesciences to a “strong-buy” rating in a research report on Wednesday, July 31st. 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 research report on Monday, September 9th. Finally, Wolfe Research upgraded shares of Edwards Lifesciences from an “underperform” rating to a “peer perform” rating in a report on Monday, July 29th. Seventeen analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $75.77.

Edwards Lifesciences Stock Up 1.1 %

Shares of EW traded up $0.73 during mid-day trading on Monday, hitting $68.86. 501,089 shares of the company’s stock were exchanged, compared to its average volume of 4,556,117. The stock’s 50-day moving average is $67.13 and its 200-day moving average is $79.97. 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 market cap of $41.50 billion, a price-to-earnings ratio of 29.37, a P/E/G ratio of 2.83 and a beta of 1.13.

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

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.