Bridges Investment Management Inc. Lowers Stake in Edwards Lifesciences Co. (NYSE:EW)

Bridges Investment Management Inc. cut its position in Edwards Lifesciences Co. (NYSE:EW) by 77.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,628 shares of the medical research company’s stock after selling 58,619 shares during the period. Bridges Investment Management Inc.’s holdings in Edwards Lifesciences were worth $1,097,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Empowered Funds LLC lifted its position in shares of Edwards Lifesciences by 151.2% in the first quarter. Empowered Funds LLC now owns 20,123 shares of the medical research company’s stock valued at $1,923,000 after acquiring an additional 12,112 shares in the last quarter. Oppenheimer & Co. Inc. lifted its holdings in Edwards Lifesciences by 23.4% in the 1st quarter. Oppenheimer & Co. Inc. now owns 26,253 shares of the medical research company’s stock worth $2,509,000 after purchasing an additional 4,977 shares in the last quarter. Allegheny Financial Group LTD bought a new position in Edwards Lifesciences in the 1st quarter worth approximately $212,000. Atomi Financial Group Inc. purchased a new stake in Edwards Lifesciences during the 1st quarter valued at approximately $400,000. Finally, Choate Investment Advisors raised its position in shares of Edwards Lifesciences by 1.4% during the first quarter. Choate Investment Advisors now owns 153,698 shares of the medical research company’s stock valued at $14,687,000 after buying an additional 2,117 shares during the last quarter. 79.46% of the stock is currently owned by institutional investors.

Edwards Lifesciences Trading Up 0.6 %

Shares of NYSE EW opened at $66.23 on Friday. The business’s 50 day moving average price is $67.59 and its 200-day moving average price is $76.96. 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 debt-to-equity ratio of 0.08, a quick ratio of 2.87 and a current ratio of 3.71. The company has a market cap of $39.06 billion, a price-to-earnings ratio of 9.56, a PEG ratio of 3.70 and a beta of 1.12.

Edwards Lifesciences (NYSE:EW) last released its earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share for the quarter, hitting the consensus estimate of $0.67. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.57 billion. Edwards Lifesciences had a return on equity of 22.56% and a net margin of 70.82%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the company earned $0.59 earnings per share. On average, sell-side analysts expect that Edwards Lifesciences Co. will post 2.57 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on EW shares. Jefferies Financial Group lowered shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and dropped their target price for the stock from $85.00 to $70.00 in a research report on Wednesday, September 18th. Bank of America lowered Edwards Lifesciences from a “buy” rating to a “neutral” rating and cut their price objective for the company from $105.00 to $75.00 in a research report on Thursday, July 25th. Oppenheimer reaffirmed an “outperform” rating and issued a $90.00 target price on shares of Edwards Lifesciences in a report on Thursday, September 12th. Piper Sandler dropped their price target on Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Finally, StockNews.com downgraded Edwards Lifesciences from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Seventeen analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Edwards Lifesciences has a consensus rating of “Hold” and an average price target of $75.67.

Insiders Place Their Bets

In related news, insider Larry L. Wood sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $65.91, for a total value of $1,647,750.00. Following the completion of the sale, the insider now owns 198,526 shares in the company, valued at approximately $13,084,848.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Edwards Lifesciences news, insider Larry L. Wood sold 25,000 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $65.91, for a total transaction of $1,647,750.00. Following the transaction, the insider now directly owns 198,526 shares in the company, valued at $13,084,848.66. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Daveen Chopra sold 1,250 shares of the firm’s 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 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 have sold 41,250 shares of company stock worth $2,746,988 in the last three months. Corporate insiders own 1.29% of the company’s stock.

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.