Commonwealth Equity Services LLC Trims Stock Position in Edwards Lifesciences Co. (NYSE:EW)

Commonwealth Equity Services LLC decreased its holdings in Edwards Lifesciences Co. (NYSE:EW) by 15.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 163,558 shares of the medical research company’s stock after selling 29,569 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Edwards Lifesciences were worth $12,108,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Abacus Planning Group Inc. raised its position in Edwards Lifesciences by 0.3% in the 4th quarter. Abacus Planning Group Inc. now owns 40,207 shares of the medical research company’s stock valued at $2,977,000 after purchasing an additional 140 shares during the last quarter. Bowman & Co S.C. raised its position in Edwards Lifesciences by 1.2% in the 4th quarter. Bowman & Co S.C. now owns 12,487 shares of the medical research company’s stock valued at $924,000 after purchasing an additional 148 shares during the last quarter. Moors & Cabot Inc. raised its position in Edwards Lifesciences by 0.3% in the 4th quarter. Moors & Cabot Inc. now owns 54,589 shares of the medical research company’s stock valued at $4,041,000 after purchasing an additional 152 shares during the last quarter. Pegasus Asset Management Inc. raised its position in Edwards Lifesciences by 0.4% during the 4th quarter. Pegasus Asset Management Inc. now owns 42,628 shares of the medical research company’s stock worth $3,156,000 after buying an additional 159 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC raised its position in Edwards Lifesciences by 1.9% during the 4th quarter. Mount Yale Investment Advisors LLC now owns 8,563 shares of the medical research company’s stock worth $634,000 after buying an additional 162 shares during the last quarter. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Price Performance

NYSE:EW opened at $70.31 on Wednesday. The firm has a market cap of $41.33 billion, a price-to-earnings ratio of 10.09, a price-to-earnings-growth ratio of 4.82 and a beta of 1.12. 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 company’s 50-day moving average is $71.61 and its two-hundred day moving average is $70.35. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $96.12.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Tuesday, February 11th. The medical research company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.04. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. Research analysts expect that Edwards Lifesciences Co. will post 2.45 EPS for the current year.

Insider Transactions at Edwards Lifesciences

In related news, CEO Bernard J. Zovighian sold 6,164 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $69.51, for a total value of $428,459.64. Following the transaction, the chief executive officer now owns 59,083 shares in the company, valued at approximately $4,106,859.33. This trade represents a 9.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Daniel J. Lippis sold 400 shares of the firm’s stock in a transaction that occurred on 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 transaction, the vice president now owns 22,588 shares in the company, valued at $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 a total of 51,303 shares of company stock worth $3,715,776 in the last three months. Company insiders own 1.29% of the company’s stock.

Wall Street Analyst Weigh In

EW has been the subject of a number of analyst reports. Bank of America upgraded shares of Edwards Lifesciences from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $82.00 to $90.00 in a research report on Monday, December 16th. Piper Sandler upped their price objective on shares of Edwards Lifesciences from $70.00 to $73.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. The Goldman Sachs Group upped their price objective on shares of Edwards Lifesciences from $81.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Barclays upped their price objective on shares of Edwards Lifesciences from $88.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Finally, Canaccord Genuity Group upped their price objective on shares of Edwards Lifesciences from $68.00 to $71.00 and gave the stock a “hold” rating in a research report on Thursday, February 13th. One equities 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 company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $79.95.

Edwards Lifesciences 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.