Daymark Wealth Partners LLC Reduces Stock Position in Edwards Lifesciences Co. (NYSE:EW)

Daymark Wealth Partners LLC trimmed its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 4.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 8,113 shares of the medical research company’s stock after selling 414 shares during the period. Daymark Wealth Partners LLC’s holdings in Edwards Lifesciences were worth $601,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in EW. Nisa Investment Advisors LLC lifted its stake in Edwards Lifesciences by 5.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 260,617 shares of the medical research company’s stock worth $19,293,000 after purchasing an additional 12,351 shares during the last quarter. Bourgeon Capital Management LLC purchased a new stake in shares of Edwards Lifesciences during the 4th quarter worth approximately $233,000. ACT Wealth Management LLC acquired a new position in shares of Edwards Lifesciences in the 4th quarter valued at $201,000. Ballentine Partners LLC grew its position in shares of Edwards Lifesciences by 17.3% in the 4th quarter. Ballentine Partners LLC now owns 5,484 shares of the medical research company’s stock valued at $406,000 after buying an additional 810 shares during the last quarter. Finally, Aurora Investment Managers LLC. acquired a new stake in Edwards Lifesciences during the 4th quarter worth $200,000. 79.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Canaccord Genuity Group upped their price objective on shares of Edwards Lifesciences from $63.00 to $68.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. Citigroup boosted their price target on Edwards Lifesciences from $81.00 to $83.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Wolfe Research lowered Edwards Lifesciences from a “peer perform” rating to an “underperform” rating and set a $60.00 target price on the stock. in a report on Thursday, January 16th. Truist Financial restated a “hold” rating and issued a $78.00 target price (up previously from $70.00) on shares of Edwards Lifesciences in a research note on Thursday, December 5th. Finally, Robert W. Baird dropped their price objective on Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $78.48.

Insiders Place Their Bets

In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $65.57, for a total value of $327,850.00. Following the completion of the transaction, the vice president now directly owns 46,936 shares in the company, valued at approximately $3,077,593.52. This represents a 9.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Daniel J. Lippis sold 2,500 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $74.08, for a total value of $185,200.00. Following the sale, the vice president now owns 23,189 shares of the company’s stock, valued at $1,717,841.12. This represents a 9.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,000 shares of company stock worth $2,195,180 over the last three months. 1.29% of the stock is owned by insiders.

Edwards Lifesciences Price Performance

Shares of NYSE:EW opened at $68.95 on Friday. The business has a fifty day simple moving average of $72.25 and a 200-day simple moving average of $70.86. 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 company has a market cap of $40.66 billion, a P/E ratio of 9.95, a P/E/G ratio of 3.59 and a beta of 1.11.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Thursday, October 24th. The medical research company reported $0.67 EPS for the quarter, hitting the consensus estimate of $0.67. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the prior year, the business posted $0.59 earnings per share. Edwards Lifesciences’s revenue for the quarter was up 8.9% compared to the same quarter last year. Equities research analysts forecast that Edwards Lifesciences Co. will post 2.56 EPS for the current year.

Edwards Lifesciences Company 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.