MML Investors Services LLC Sells 64,525 Shares of Edwards Lifesciences Co. (NYSE:EW)

MML Investors Services LLC lessened its position in shares of Edwards Lifesciences Co. (NYSE:EW) by 65.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,115 shares of the medical research company’s stock after selling 64,525 shares during the period. MML Investors Services LLC’s holdings in Edwards Lifesciences were worth $2,251,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. FSA Wealth Management LLC bought a new stake in Edwards Lifesciences during the third quarter worth $30,000. Prospera Private Wealth LLC bought a new stake in shares of Edwards Lifesciences during the 3rd quarter worth $32,000. Avior Wealth Management LLC boosted its stake in Edwards Lifesciences by 138.7% in the third quarter. Avior Wealth Management LLC now owns 530 shares of the medical research company’s stock valued at $35,000 after buying an additional 308 shares in the last quarter. Peoples Bank KS bought a new position in Edwards Lifesciences in the third quarter valued at about $40,000. Finally, JFS Wealth Advisors LLC raised its stake in Edwards Lifesciences by 31.1% during the third quarter. JFS Wealth Advisors LLC now owns 700 shares of the medical research company’s stock worth $46,000 after acquiring an additional 166 shares in the last quarter. Institutional investors and hedge funds own 79.46% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on EW shares. Robert W. Baird reduced their price target on shares of Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Oppenheimer reaffirmed an “outperform” rating and set a $90.00 target price on shares of Edwards Lifesciences in a research note on Thursday, September 12th. Piper Sandler dropped their price target on Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Morgan Stanley restated an “equal weight” rating and set a $70.00 price objective on shares of Edwards Lifesciences in a research report on Friday, October 11th. Finally, The Goldman Sachs Group upped their target price on Edwards Lifesciences from $81.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Sixteen analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $79.40.

Edwards Lifesciences Stock Up 0.8 %

Shares of NYSE:EW opened at $73.91 on Tuesday. Edwards Lifesciences Co. has a 1 year low of $58.93 and a 1 year high of $96.12. 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 business’s 50-day moving average is $69.61 and its 200-day moving average is $73.80. The company has a market capitalization of $43.59 billion, a price-to-earnings ratio of 10.67, a P/E/G ratio of 3.63 and a beta of 1.12.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.67. The firm had revenue of $1.35 billion for 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%. The company’s revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.59 earnings per share. Equities research analysts predict that Edwards Lifesciences Co. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other Edwards Lifesciences news, VP Daniel J. Lippis sold 2,500 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $74.08, for a total transaction of $185,200.00. Following the transaction, the vice president now owns 23,189 shares in the company, valued at approximately $1,717,841.12. This represents a 9.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Larry L. Wood sold 25,000 shares of Edwards Lifesciences stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $65.91, for a total transaction of $1,647,750.00. Following the transaction, the insider now owns 198,526 shares of the company’s stock, valued at $13,084,848.66. This represents a 11.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,500 shares of company stock worth $2,508,350. 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.