Swedbank AB Sells 259,245 Shares of Edwards Lifesciences Co. (NYSE:EW)

Swedbank AB lessened its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 21.1% in the 3rd quarter, Holdings Channel reports. The firm owned 969,512 shares of the medical research company’s stock after selling 259,245 shares during the period. Swedbank AB’s holdings in Edwards Lifesciences were worth $63,978,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. First Community Trust NA bought a new position in Edwards Lifesciences during the second quarter valued at $29,000. Prospera Private Wealth LLC purchased a new stake in shares of Edwards Lifesciences during the 3rd quarter valued at about $32,000. Avior Wealth Management LLC lifted its holdings in shares of Edwards Lifesciences by 138.7% in the 3rd quarter. Avior Wealth Management LLC now owns 530 shares of the medical research company’s stock valued at $35,000 after acquiring an additional 308 shares during the last quarter. Webster Bank N. A. purchased a new position in Edwards Lifesciences in the second quarter worth about $39,000. Finally, Peoples Bank KS bought a new stake in Edwards Lifesciences during the third quarter worth approximately $40,000. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Stock Performance

EW stock opened at $70.48 on Monday. 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 Co. has a 1-year low of $58.93 and a 1-year high of $96.12. The business has a 50-day moving average price of $67.70 and a 200 day moving average price of $75.59. The company has a market capitalization of $41.57 billion, a P/E ratio of 10.17, a PEG ratio of 3.96 and a beta of 1.12.

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, meeting the consensus estimate of $0.67. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the previous year, the business posted $0.59 EPS. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. As a group, equities research analysts forecast that Edwards Lifesciences Co. will post 2.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on EW shares. Wells Fargo & Company lowered their price objective on Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Monday, September 9th. Daiwa Capital Markets upgraded Edwards Lifesciences from a “neutral” rating to an “outperform” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price objective on shares of Edwards Lifesciences from $72.00 to $78.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Barclays reduced their target price on shares of Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Monday, September 9th. Finally, Truist Financial dropped their price target on shares of Edwards Lifesciences from $71.00 to $70.00 and set a “hold” rating for the company in a research note on Friday, October 25th. Seventeen analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $75.67.

Insider Buying and Selling at Edwards Lifesciences

In other Edwards Lifesciences news, insider Larry L. Wood sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $65.91, for a total value of $1,647,750.00. Following the completion of the sale, the insider now directly owns 198,526 shares in the company, valued at $13,084,848.66. This trade represents a 11.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $66.77, for a total transaction of $333,850.00. Following the completion of the transaction, the vice president now directly owns 46,936 shares in the company, valued at $3,133,916.72. This represents a 9.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,000 shares of company stock valued at $2,657,000. 1.29% of the stock is currently owned by corporate insiders.

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.