Trust Point Inc. Sells 1,622 Shares of Edwards Lifesciences Co. (NYSE:EW)

Trust Point Inc. lessened its stake in Edwards Lifesciences Co. (NYSE:EW) by 14.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,362 shares of the medical research company’s stock after selling 1,622 shares during the period. Trust Point Inc.’s holdings in Edwards Lifesciences were worth $693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. GDS Wealth Management grew its position in shares of Edwards Lifesciences by 46.2% in the 4th quarter. GDS Wealth Management now owns 191,013 shares of the medical research company’s stock worth $14,141,000 after buying an additional 60,339 shares during the last quarter. Boston Trust Walden Corp boosted its stake in Edwards Lifesciences by 88.6% in the fourth quarter. Boston Trust Walden Corp now owns 282,372 shares of the medical research company’s stock valued at $20,904,000 after acquiring an additional 132,629 shares in the last quarter. Financial Life Planners purchased a new position in Edwards Lifesciences in the fourth quarter worth $89,000. Jennison Associates LLC acquired a new position in shares of Edwards Lifesciences during the fourth quarter worth $555,939,000. Finally, Resonant Capital Advisors LLC lifted its holdings in shares of Edwards Lifesciences by 8.0% during the 4th quarter. Resonant Capital Advisors LLC now owns 3,382 shares of the medical research company’s stock valued at $250,000 after purchasing an additional 250 shares during the last quarter. 79.46% of the stock is currently owned by institutional investors.

Insider Activity

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $65.57, for a total value of $327,850.00. Following the transaction, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,077,593.52. This trade represents a 9.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Daniel J. Lippis sold 500 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $68.76, for a total value of $34,380.00. Following the sale, the vice president now owns 23,189 shares of the company’s stock, valued at approximately $1,594,475.64. This trade represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,000 shares of company stock worth $547,430 in the last quarter. Corporate insiders own 1.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Canaccord Genuity Group upped their target price on Edwards Lifesciences from $63.00 to $68.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Bank of America upgraded shares of Edwards Lifesciences from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $82.00 to $90.00 in a research note on Monday, December 16th. Piper Sandler cut their price target on shares of Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Morgan Stanley reiterated an “equal weight” rating and set a $70.00 price objective on shares of Edwards Lifesciences in a research note on Friday, October 11th. Finally, Daiwa America downgraded Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $79.19.

Edwards Lifesciences Stock Performance

NYSE EW opened at $71.33 on Wednesday. The stock has a market capitalization of $42.07 billion, a price-to-earnings ratio of 10.29, a PEG ratio of 3.72 and a beta of 1.11. The stock has a 50-day moving average of $72.49 and a 200 day moving average of $69.63. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. Edwards Lifesciences Co. has a twelve month low of $58.93 and a twelve month high of $96.12.

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.