Bank of New York Mellon Corp Lowers Holdings in Edwards Lifesciences Co. (NYSE:EW)

Bank of New York Mellon Corp decreased its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 1.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,125,121 shares of the medical research company’s stock after selling 181,202 shares during the quarter. Bank of New York Mellon Corp’s holdings in Edwards Lifesciences were worth $1,341,803,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Prasad Wealth Partners LLC acquired a new stake in shares of Edwards Lifesciences during the fourth quarter valued at about $277,000. BankPlus Trust Department acquired a new stake in Edwards Lifesciences in the 4th quarter valued at approximately $844,000. Impax Asset Management Group plc raised its position in Edwards Lifesciences by 34.6% in the fourth quarter. Impax Asset Management Group plc now owns 17,448 shares of the medical research company’s stock valued at $1,292,000 after purchasing an additional 4,484 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co raised its position in Edwards Lifesciences by 45.9% in the fourth quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 161,221 shares of the medical research company’s stock valued at $11,935,000 after purchasing an additional 50,744 shares during the period. Finally, Rothschild Investment LLC lifted its stake in Edwards Lifesciences by 2.1% during the fourth quarter. Rothschild Investment LLC now owns 12,981 shares of the medical research company’s stock worth $961,000 after purchasing an additional 263 shares in the last quarter. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on EW. Canaccord Genuity Group lifted their price objective on Edwards Lifesciences from $68.00 to $71.00 and gave the company a “hold” rating in a research note on Thursday, February 13th. The Goldman Sachs Group lifted their target price on Edwards Lifesciences from $81.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Royal Bank of Canada reissued an “outperform” rating and set a $85.00 price target on shares of Edwards Lifesciences in a research report on Wednesday, February 12th. Stifel Nicolaus upgraded shares of Edwards Lifesciences from a “hold” rating to a “buy” rating and lifted their price objective for the company from $75.00 to $90.00 in a report on Thursday, January 30th. Finally, Barclays upped their target price on shares of Edwards Lifesciences from $88.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Edwards Lifesciences currently has an average rating of “Hold” and an average price target of $79.95.

Insider Transactions at Edwards Lifesciences

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 6,500 shares of Edwards Lifesciences stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $75.75, for a total value of $492,375.00. Following the transaction, the vice president now directly owns 46,936 shares in the company, valued at approximately $3,555,402. The trade was a 12.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven R. Loranger sold 5,739 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $76.42, for a total transaction of $438,574.38. Following the completion of the sale, the director now directly owns 60,372 shares of the company’s stock, valued at $4,613,628.24. The trade was a 8.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,489 shares of company stock worth $2,002,829. Corporate insiders own 1.29% of the company’s stock.

Edwards Lifesciences Stock Performance

Shares of Edwards Lifesciences stock opened at $72.72 on Tuesday. The firm has a market capitalization of $42.89 billion, a P/E ratio of 10.43, a P/E/G ratio of 4.82 and a beta of 1.11. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06. Edwards Lifesciences Co. has a 52 week low of $58.93 and a 52 week high of $96.12. The firm’s 50 day moving average is $72.83 and its two-hundred day moving average is $70.13.

Edwards Lifesciences (NYSE:EW) last posted its earnings results on Tuesday, February 11th. The medical research company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. Research analysts forecast that Edwards Lifesciences Co. will post 2.45 EPS for the current fiscal year.

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.