Ipswich Investment Management Co. Inc. Cuts Holdings in Edwards Lifesciences Co. (NYSE:EW)

Ipswich Investment Management Co. Inc. lowered its position in Edwards Lifesciences Co. (NYSE:EW) by 61.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,259 shares of the medical research company’s stock after selling 11,475 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in Edwards Lifesciences were worth $479,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Edwards Lifesciences by 1.1% during the first quarter. Vanguard Group Inc. now owns 52,964,394 shares of the medical research company’s stock worth $5,061,277,000 after purchasing an additional 600,994 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings 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 buying an additional 809,605 shares during the last quarter. Price T Rowe Associates Inc. MD increased 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 buying an additional 2,390,137 shares in the last quarter. AustralianSuper Pty Ltd raised its holdings in shares of Edwards Lifesciences by 17.8% during the third quarter. AustralianSuper Pty Ltd now owns 3,273,416 shares of the medical research company’s stock valued at $216,013,000 after acquiring an additional 494,604 shares during the last quarter. Finally, Ownership Capital B.V. lifted its position in shares of Edwards Lifesciences by 1.2% in the third quarter. Ownership Capital B.V. now owns 2,993,019 shares of the medical research company’s stock valued at $197,509,000 after acquiring an additional 34,597 shares in the last quarter. Institutional investors and hedge funds own 79.46% of the company’s stock.

Edwards Lifesciences Trading Up 2.4 %

NYSE EW opened at $67.76 on Friday. Edwards Lifesciences Co. has a 52 week low of $58.93 and a 52 week high of $96.12. The firm has a 50 day moving average of $67.44 and a two-hundred day moving average of $76.24. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $39.96 billion, a PE ratio of 9.78, a price-to-earnings-growth ratio of 3.74 and a beta of 1.12.

Edwards Lifesciences (NYSE:EW) last posted its earnings results on Thursday, October 24th. The medical research company reported $0.67 EPS for the quarter, meeting the consensus estimate of $0.67. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.57 billion. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. Edwards Lifesciences’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.59 earnings per share. As a group, research analysts expect that Edwards Lifesciences Co. will post 2.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on EW. Morgan Stanley reissued an “equal weight” rating and issued a $70.00 price objective on shares of Edwards Lifesciences in a research note on Friday, October 11th. JPMorgan Chase & Co. raised their price target on shares of Edwards Lifesciences from $72.00 to $78.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Royal Bank of Canada lowered their price target on shares of Edwards Lifesciences from $85.00 to $75.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. Baird R W downgraded shares of Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 25th. Finally, Daiwa America lowered Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Seventeen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Edwards Lifesciences presently has a consensus rating of “Hold” and an average target price of $75.67.

Insider Transactions at Edwards Lifesciences

In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $69.51, for a total transaction of $347,550.00. Following the sale, the vice president now owns 46,936 shares in the company, valued at approximately $3,262,521.36. The trade was a 9.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Daveen Chopra sold 1,250 shares of the company’s stock in a transaction dated 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 directly owns 29,333 shares of the company’s stock, valued at approximately $2,051,843.35. This trade represents a 4.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,250 shares of company stock valued at $2,744,438. 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.