Primecap Management Co. CA Sells 26,300 Shares of Edwards Lifesciences Co. (NYSE:EW)

Primecap Management Co. CA lowered its position in shares of Edwards Lifesciences Co. (NYSE:EW) by 1.5% in the third quarter, Holdings Channel reports. The firm owned 1,784,700 shares of the medical research company’s stock after selling 26,300 shares during the period. Primecap Management Co. CA’s holdings in Edwards Lifesciences were worth $117,772,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of EW. Crewe Advisors LLC acquired a new position in shares of Edwards Lifesciences in the 1st quarter valued at $28,000. First Community Trust NA bought a new position in Edwards Lifesciences during the second quarter worth about $29,000. Prospera Private Wealth LLC acquired a new position in Edwards Lifesciences in the third quarter valued at about $32,000. Avior Wealth Management LLC increased its holdings in shares of Edwards Lifesciences by 138.7% in the third quarter. Avior Wealth Management LLC now owns 530 shares of the medical research company’s stock worth $35,000 after acquiring an additional 308 shares in the last quarter. Finally, Webster Bank N. A. acquired a new stake in shares of Edwards Lifesciences during the second quarter worth about $39,000. Institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Stock Performance

Shares of EW opened at $70.56 on Friday. The company has a market cap of $41.61 billion, a PE ratio of 10.18, a price-to-earnings-growth ratio of 3.95 and a beta of 1.12. The firm has a 50-day moving average of $67.66 and a 200-day moving average of $75.83. Edwards Lifesciences Co. has a one year low of $58.93 and a one year high of $96.12. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Thursday, October 24th. The medical research company reported $0.67 EPS for the quarter, hitting analysts’ consensus estimates of $0.67. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. Edwards Lifesciences’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the company posted $0.59 earnings per share. As a group, equities analysts forecast that Edwards Lifesciences Co. will post 2.57 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $69.51, for a total transaction of $347,550.00. Following the completion of the sale, the vice president now owns 46,936 shares of the company’s stock, valued at approximately $3,262,521.36. The trade was a 9.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 completion of the transaction, the insider now directly owns 198,526 shares in the company, valued at approximately $13,084,848.66. This represents a 11.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,000 shares of company stock valued at $2,657,000. 1.29% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Baird R W lowered Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 25th. Truist Financial lowered their price objective on shares of Edwards Lifesciences from $71.00 to $70.00 and set a “hold” rating for the company in a research report on Friday, October 25th. Stifel Nicolaus cut their price objective on shares of Edwards Lifesciences from $85.00 to $70.00 and set a “hold” rating on the stock in a research report on Thursday, July 25th. Sanford C. Bernstein upgraded Edwards Lifesciences from a “strong sell” rating to a “hold” rating in a report on Monday, October 28th. Finally, Jefferies Financial Group lowered Edwards Lifesciences from a “buy” rating to a “hold” rating and cut their price target for the company from $85.00 to $70.00 in a report on Wednesday, September 18th. Seventeen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Edwards Lifesciences currently has a consensus rating of “Hold” and a consensus target price of $75.67.

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.