MetLife Investment Management LLC Reduces Holdings in Edwards Lifesciences Co. (NYSE:EW)

MetLife Investment Management LLC reduced its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 2.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 178,870 shares of the medical research company’s stock after selling 5,333 shares during the quarter. MetLife Investment Management LLC’s holdings in Edwards Lifesciences were worth $16,873,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Truvestments Capital LLC increased its holdings in Edwards Lifesciences by 260.0% during the 2nd quarter. Truvestments Capital LLC now owns 270 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 195 shares in the last quarter. Castleview Partners LLC purchased a new stake in shares of Edwards Lifesciences during the first quarter worth about $25,000. Altshuler Shaham Ltd purchased a new stake in shares of Edwards Lifesciences during the second quarter worth about $31,000. Compass Wealth Management LLC purchased a new stake in shares of Edwards Lifesciences during the fourth quarter worth about $31,000. Finally, Jones Financial Companies Lllp purchased a new stake in shares of Edwards Lifesciences during the first quarter worth about $33,000. 79.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company lowered their price target on shares of Edwards Lifesciences from $88.00 to $75.00 and set an “equal weight” rating for the company in a report on Thursday, October 26th. Leerink Partnrs restated a “market perform” rating on shares of Edwards Lifesciences in a report on Monday, October 16th. Jefferies Financial Group boosted their target price on shares of Edwards Lifesciences from $103.00 to $107.00 and gave the company a “buy” rating in a report on Tuesday, July 25th. Oppenheimer upgraded shares of Edwards Lifesciences from a “market perform” rating to an “outperform” rating and set a $90.00 target price for the company in a report on Tuesday, September 26th. Finally, Truist Financial lowered their target price on shares of Edwards Lifesciences from $83.00 to $76.00 and set a “buy” rating for the company in a report on Thursday, October 26th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $84.29.

Edwards Lifesciences Stock Down 0.5 %

Shares of NYSE:EW opened at $66.87 on Tuesday. The company has a current ratio of 3.28, a quick ratio of 2.45 and a debt-to-equity ratio of 0.09. The company has a fifty day simple moving average of $68.93 and a 200 day simple moving average of $79.38. The firm has a market cap of $40.56 billion, a PE ratio of 28.71, a price-to-earnings-growth ratio of 3.74 and a beta of 1.02. Edwards Lifesciences Co. has a 12-month low of $60.57 and a 12-month high of $94.87.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Wednesday, October 25th. The medical research company reported $0.59 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.59. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.48 billion. Edwards Lifesciences had a net margin of 24.59% and a return on equity of 24.54%. The business’s revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.61 earnings per share. On average, equities research analysts anticipate that Edwards Lifesciences Co. will post 2.51 EPS for the current fiscal year.

Insider Buying and Selling

In other Edwards Lifesciences news, VP Catherine M. Szyman sold 5,000 shares of the business’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $76.00, for a total transaction of $380,000.00. Following the completion of the sale, the vice president now owns 34,814 shares in the company, valued at $2,645,864. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Edwards Lifesciences news, CFO Scott B. Ullem sold 7,255 shares of the business’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $77.79, for a total transaction of $564,366.45. Following the completion of the sale, the chief financial officer now owns 19,248 shares in the company, valued at $1,497,301.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Catherine M. Szyman sold 5,000 shares of the company’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $76.00, for a total transaction of $380,000.00. Following the transaction, the vice president now owns 34,814 shares of the company’s stock, valued at approximately $2,645,864. The disclosure for this sale can be found here. Over the last quarter, insiders sold 179,795 shares of company stock worth $12,724,914. Insiders own 1.29% of the company’s stock.

Edwards Lifesciences Profile

Edwards Lifesciences Corporation provides products and technologies for structural heart disease, and critical care and surgical monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of heart valves; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases.