Sound View Wealth Advisors Group LLC Reduces Stock Holdings in Edwards Lifesciences Co. (NYSE:EW)

Sound View Wealth Advisors Group LLC lessened its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 6.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,691 shares of the medical research company’s stock after selling 336 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in Edwards Lifesciences were worth $347,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of EW. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Edwards Lifesciences during the 4th quarter worth about $30,000. FSA Wealth Management LLC purchased a new position in shares of Edwards Lifesciences during the third quarter valued at approximately $30,000. Prospera Private Wealth LLC bought a new position in shares of Edwards Lifesciences during the third quarter valued at approximately $32,000. Avior Wealth Management LLC raised 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 buying an additional 308 shares during the period. Finally, Roble Belko & Company Inc bought a new stake in shares of Edwards Lifesciences during the 4th quarter worth approximately $46,000. 79.46% of the stock is currently owned by institutional investors.

Edwards Lifesciences Price Performance

Shares of EW opened at $68.49 on Tuesday. The company’s fifty day moving average price is $72.14 and its 200-day moving average price is $70.37. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89. The firm has a market capitalization of $40.26 billion, a PE ratio of 9.83, a price-to-earnings-growth ratio of 4.82 and a beta of 1.12. Edwards Lifesciences Co. has a 1-year low of $58.93 and a 1-year high of $96.12.

Edwards Lifesciences (NYSE:EW) last posted its earnings results on Tuesday, February 11th. The medical research company reported $0.59 earnings per share (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%. On average, equities research analysts predict that Edwards Lifesciences Co. will post 2.45 EPS for the current year.

Analysts Set New Price Targets

EW has been the topic of several research analyst reports. Canaccord Genuity Group upped their price objective on Edwards Lifesciences from $68.00 to $71.00 and gave the company a “hold” rating in a research report on Thursday, February 13th. Royal Bank of Canada restated an “outperform” rating and issued a $85.00 price target on shares of Edwards Lifesciences in a report on Wednesday, February 12th. Truist Financial reiterated a “hold” rating and set a $78.00 price objective (up previously from $70.00) on shares of Edwards Lifesciences in a report on Thursday, December 5th. Morgan Stanley upped their target price on shares of Edwards Lifesciences from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 12th. Finally, The Goldman Sachs Group boosted their price target on Edwards Lifesciences from $81.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, December 5th. One investment 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’s stock. According to MarketBeat, Edwards Lifesciences currently has a consensus rating of “Hold” and a consensus target price of $79.95.

Insider Transactions at Edwards Lifesciences

In other Edwards Lifesciences news, CEO Bernard J. Zovighian sold 6,164 shares of Edwards Lifesciences stock in a transaction on Monday, March 10th. The shares were sold at an average price of $69.51, for a total transaction of $428,459.64. Following the sale, the chief executive officer now owns 59,083 shares of the company’s stock, valued at $4,106,859.33. The trade was a 9.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Daniel J. Lippis sold 400 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $69.48, for a total transaction of $27,792.00. Following the completion of the sale, the vice president now owns 22,588 shares of the company’s stock, valued at approximately $1,569,414.24. The trade was a 1.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,303 shares of company stock valued at $3,255,356 in the last 90 days. 1.29% of the stock is currently 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.