IHT Wealth Management LLC Sells 4,632 Shares of Edwards Lifesciences Co. (NYSE:EW)

IHT Wealth Management LLC reduced its position in Edwards Lifesciences Co. (NYSE:EW) by 43.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,016 shares of the medical research company’s stock after selling 4,632 shares during the quarter. IHT Wealth Management LLC’s holdings in Edwards Lifesciences were worth $397,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jacobs Levy Equity Management Inc. boosted its holdings in Edwards Lifesciences by 239.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 3,693,663 shares of the medical research company’s stock valued at $243,745,000 after purchasing an additional 2,606,950 shares during the period. Bank of New York Mellon Corp boosted its stake in Edwards Lifesciences by 4.3% during the second quarter. Bank of New York Mellon Corp now owns 19,782,909 shares of the medical research company’s stock valued at $1,827,347,000 after buying an additional 809,605 shares during the period. Fisher Asset Management LLC grew its position in Edwards Lifesciences by 9.8% during the third quarter. Fisher Asset Management LLC now owns 9,078,311 shares of the medical research company’s stock worth $599,078,000 after buying an additional 806,705 shares in the last quarter. AustralianSuper Pty Ltd increased its stake in Edwards Lifesciences by 17.8% in the 3rd quarter. AustralianSuper Pty Ltd now owns 3,273,416 shares of the medical research company’s stock worth $216,013,000 after acquiring an additional 494,604 shares during the last quarter. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund raised its holdings in shares of Edwards Lifesciences by 422.3% in the 3rd quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 450,233 shares of the medical research company’s stock valued at $29,711,000 after acquiring an additional 364,030 shares in the last quarter. Institutional investors own 79.46% of the company’s stock.

Insider Activity at Edwards Lifesciences

In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $69.51, for a total value of $347,550.00. Following the completion of the transaction, the vice president now owns 46,936 shares in the company, valued at $3,262,521.36. This trade represents a 9.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Larry L. Wood sold 25,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was 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 approximately $13,084,848.66. The trade was a 11.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 40,000 shares of company stock worth $2,657,000 over the last quarter. Corporate insiders own 1.29% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on EW. Daiwa America lowered Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price target on shares of Edwards Lifesciences from $72.00 to $78.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Barclays increased their price target on shares of Edwards Lifesciences from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Truist Financial reaffirmed a “hold” rating and set a $78.00 price objective (up from $70.00) on shares of Edwards Lifesciences in a report on Thursday. Finally, Oppenheimer reissued an “outperform” rating and issued a $90.00 target price on shares of Edwards Lifesciences in a research note on Thursday, September 12th. Seventeen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $78.35.

Edwards Lifesciences Price Performance

EW stock opened at $71.53 on Monday. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. The firm’s 50-day moving average price is $68.65 and its two-hundred day moving average price is $74.41. The stock has a market capitalization of $42.19 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 4.17 and a beta of 1.12. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $96.12.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Thursday, October 24th. The medical research company reported $0.67 EPS for the quarter, meeting analysts’ consensus estimates of $0.67. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.59 EPS. As a group, equities analysts predict that Edwards Lifesciences Co. will post 2.55 earnings per share for the current year.

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.