Edwards Lifesciences Co. (NYSE:EW) Shares Sold by Industrial Alliance Investment Management Inc.

Industrial Alliance Investment Management Inc. reduced its position in shares of Edwards Lifesciences Co. (NYSE:EW) by 57.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 610 shares of the medical research company’s stock after selling 810 shares during the period. Industrial Alliance Investment Management Inc.’s holdings in Edwards Lifesciences were worth $56,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of EW. Park Avenue Securities LLC raised its position in shares of Edwards Lifesciences by 0.5% during the 2nd quarter. Park Avenue Securities LLC now owns 23,484 shares of the medical research company’s stock valued at $2,169,000 after buying an additional 108 shares during the period. City State Bank raised its position in Edwards Lifesciences by 16.5% in the second quarter. City State Bank now owns 917 shares of the medical research company’s stock valued at $85,000 after purchasing an additional 130 shares during the period. Chapin Davis Inc. lifted its stake in shares of Edwards Lifesciences by 1.7% in the 1st quarter. Chapin Davis Inc. now owns 8,548 shares of the medical research company’s stock valued at $817,000 after purchasing an additional 140 shares during the last quarter. Johnson Financial Group Inc. lifted its stake in shares of Edwards Lifesciences by 23.0% in the 4th quarter. Johnson Financial Group Inc. now owns 771 shares of the medical research company’s stock valued at $59,000 after purchasing an additional 144 shares during the last quarter. Finally, Valley National Advisers Inc. grew its holdings in shares of Edwards Lifesciences by 6.0% during the 1st quarter. Valley National Advisers Inc. now owns 2,677 shares of the medical research company’s stock worth $255,000 after purchasing an additional 152 shares during the period. 79.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EW has been the topic of a number of recent analyst reports. Royal Bank of Canada decreased 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 report on Thursday, July 25th. Barclays decreased their price objective on shares of Edwards Lifesciences from $101.00 to $90.00 and set an “overweight” rating on the stock in a report on Friday, July 26th. Wolfe Research upgraded shares of Edwards Lifesciences from an “underperform” rating to a “peer perform” rating in a report on Monday, July 29th. Baird R W cut Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 25th. Finally, Bank of America lowered Edwards Lifesciences from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $105.00 to $75.00 in a research report on Thursday, July 25th. Fourteen equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $82.10.

Insider Activity at Edwards Lifesciences

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $93.29, for a total value of $466,450.00. Following the completion of the transaction, the vice president now owns 46,936 shares in the company, valued at $4,378,659.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Daveen Chopra sold 1,250 shares of the company’s 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 sale, the vice president now owns 29,333 shares in the company, valued at approximately $2,051,843.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $93.29, for a total transaction of $466,450.00. Following the transaction, the vice president now directly owns 46,936 shares in the company, valued at $4,378,659.44. The disclosure for this sale can be found here. Insiders have sold 16,250 shares of company stock valued at $1,321,988 in the last ninety days. Insiders own 1.29% of the company’s stock.

Edwards Lifesciences Stock Down 0.2 %

Edwards Lifesciences stock traded down $0.16 during midday trading on Friday, reaching $69.96. The company’s stock had a trading volume of 6,521,669 shares, compared to its average volume of 4,127,983. The business has a 50-day simple moving average of $77.53 and a 200-day simple moving average of $84.91. The company has a market cap of $42.16 billion, a P/E ratio of 30.16, a P/E/G ratio of 2.57 and a beta of 1.11. 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 quick ratio of 2.87, a current ratio of 3.71 and a debt-to-equity ratio of 0.08.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the prior year, the company posted $0.66 earnings per share. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, research analysts expect that Edwards Lifesciences Co. will post 2.71 earnings per share for the current fiscal year.

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.