Capital Group Investment Management PTE. LTD. Sells 1,447 Shares of Edwards Lifesciences Co. (NYSE:EW)

Capital Group Investment Management PTE. LTD. cut its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 12.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,862 shares of the medical research company’s stock after selling 1,447 shares during the period. Capital Group Investment Management PTE. LTD.’s holdings in Edwards Lifesciences were worth $942,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Edwards Lifesciences by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 52,964,394 shares of the medical research company’s stock valued at $5,061,277,000 after buying an additional 600,994 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Edwards Lifesciences by 9.5% during the 1st quarter. Bank of New York Mellon Corp now owns 18,973,304 shares of the medical research company’s stock worth $1,813,089,000 after acquiring an additional 1,644,869 shares during the period. Brown Advisory Inc. lifted its holdings in Edwards Lifesciences by 20.1% during the fourth quarter. Brown Advisory Inc. now owns 18,181,420 shares of the medical research company’s stock valued at $1,386,333,000 after purchasing an additional 3,048,274 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Edwards Lifesciences by 2.4% in the fourth quarter. Wellington Management Group LLP now owns 16,827,510 shares of the medical research company’s stock worth $1,283,098,000 after purchasing an additional 393,109 shares during the period. Finally, Norges Bank purchased a new stake in shares of Edwards Lifesciences in the fourth quarter worth $648,540,000. Institutional investors own 79.46% of the company’s stock.

Analyst Upgrades and Downgrades

EW has been the topic of a number of analyst reports. Evercore ISI lowered their target price on shares of Edwards Lifesciences from $91.00 to $76.00 and set an “in-line” rating on the stock in a research note on Thursday. Canaccord Genuity Group lowered their price objective on Edwards Lifesciences from $85.00 to $77.00 and set a “hold” rating on the stock in a research report on Thursday. Barclays cut their target price on Edwards Lifesciences from $101.00 to $90.00 and set an “overweight” rating for the company in a research report on Friday. Royal Bank of Canada lowered their price target on Edwards Lifesciences from $101.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Wells Fargo & Company cut their price objective on shares of Edwards Lifesciences from $99.00 to $90.00 and set an “overweight” rating for the company in a report on Thursday. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Edwards Lifesciences currently has a consensus rating of “Hold” and a consensus target price of $82.10.

Insider Activity at Edwards Lifesciences

In other news, CFO Scott B. Ullem sold 7,250 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $85.80, for a total value of $622,050.00. Following the completion of the sale, the chief financial officer now owns 19,074 shares in the company, valued at approximately $1,636,549.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Edwards Lifesciences news, CEO Bernard J. Zovighian acquired 580 shares of the business’s stock in a transaction on Monday, May 6th. The shares were bought at an average price of $85.74 per share, with a total value of $49,729.20. Following the transaction, the chief executive officer now directly owns 3,268 shares of the company’s stock, valued at approximately $280,198.32. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Scott B. Ullem sold 7,250 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $85.80, for a total value of $622,050.00. Following the completion of the sale, the chief financial officer now owns 19,074 shares in the company, valued at approximately $1,636,549.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 81,099 shares of company stock worth $7,003,553. Company insiders own 1.29% of the company’s stock.

Edwards Lifesciences Price Performance

Shares of Edwards Lifesciences stock traded up $2.67 during trading hours on Friday, reaching $62.37. The company’s stock had a trading volume of 14,079,854 shares, compared to its average volume of 3,771,425. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.75 and a quick ratio of 2.67. Edwards Lifesciences Co. has a one year low of $58.93 and a one year high of $96.12. The firm has a 50 day moving average price of $88.51 and a 200-day moving average price of $86.93. The stock has a market cap of $37.58 billion, a P/E ratio of 27.14, a P/E/G ratio of 3.18 and a beta of 1.11.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings data on Wednesday, July 24th. The medical research company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.01. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Edwards Lifesciences had a return on equity of 22.86% and a net margin of 24.55%. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.66 earnings per share. On average, analysts predict that Edwards Lifesciences Co. will post 2.77 EPS for the current year.

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.