Edwards Lifesciences Co. (NYSE:EW) Stock Holdings Lessened by Inspire Investing LLC

Inspire Investing LLC cut its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 7.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,146 shares of the medical research company’s stock after selling 842 shares during the quarter. Inspire Investing LLC’s holdings in Edwards Lifesciences were worth $670,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Crewe Advisors LLC purchased a new stake in shares of Edwards Lifesciences in the first quarter valued at $28,000. First Community Trust NA acquired a new position in shares of Edwards Lifesciences in the 2nd quarter valued at about $29,000. Riverview Trust Co acquired a new position in Edwards Lifesciences in the 1st quarter valued at approximately $34,000. Webster Bank N. A. purchased a new stake in Edwards Lifesciences in the 2nd quarter worth approximately $39,000. Finally, Peoples Bank KS acquired a new stake in shares of Edwards Lifesciences during the 3rd quarter valued at $40,000. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the company. Wolfe Research upgraded Edwards Lifesciences from an “underperform” rating to a “peer perform” rating in a research note on Monday, July 29th. StockNews.com downgraded Edwards Lifesciences from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Edwards Lifesciences from $103.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Royal Bank of Canada dropped 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 note on Tuesday, October 8th. Finally, Truist Financial reduced their price objective on shares of Edwards Lifesciences from $82.00 to $71.00 and set a “hold” rating for the company in a research note on Friday, September 13th. Seventeen research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Edwards Lifesciences currently has an average rating of “Hold” and a consensus price target of $75.77.

Edwards Lifesciences Price Performance

Shares of EW stock opened at $69.63 on Tuesday. Edwards Lifesciences Co. has a 12 month low of $58.93 and a 12 month high of $96.12. The company has a market capitalization of $41.96 billion, a P/E ratio of 30.01, a P/E/G ratio of 2.83 and a beta of 1.13. The stock has a 50 day moving average of $67.31 and a two-hundred day moving average of $79.79. The company has a current ratio of 3.71, a quick ratio of 2.87 and a debt-to-equity ratio of 0.08.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings data 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. The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The business’s revenue was up 6.7% on a year-over-year basis. During the same period last year, the business earned $0.66 earnings per share. As a group, equities analysts expect that Edwards Lifesciences Co. will post 2.71 EPS for the current year.

Insider Activity

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $66.77, for a total value of $333,850.00. Following the transaction, the vice president now owns 46,936 shares of the company’s stock, valued at approximately $3,133,916.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 $2,051,843.35. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $66.77, for a total value of $333,850.00. Following the transaction, the vice president now owns 46,936 shares in the company, valued at approximately $3,133,916.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,250 shares of company stock valued at $751,688 in the last 90 days. 1.29% of the stock is owned by company insiders.

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.