1832 Asset Management L.P. Has $29.37 Million Stake in Edwards Lifesciences Co. (NYSE:EW)

1832 Asset Management L.P. decreased its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 55.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 307,297 shares of the medical research company’s stock after selling 385,935 shares during the quarter. 1832 Asset Management L.P.’s holdings in Edwards Lifesciences were worth $29,365,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Mutual Advisors LLC acquired a new stake in Edwards Lifesciences in the 4th quarter valued at $201,000. Procyon Advisors LLC grew its position in Edwards Lifesciences by 6.8% in the 4th quarter. Procyon Advisors LLC now owns 6,063 shares of the medical research company’s stock valued at $462,000 after purchasing an additional 384 shares during the period. Washington Trust Advisors Inc. grew its position in Edwards Lifesciences by 33.2% in the 4th quarter. Washington Trust Advisors Inc. now owns 96,942 shares of the medical research company’s stock valued at $7,392,000 after purchasing an additional 24,142 shares during the period. Smithbridge Asset Management Inc. DE grew its position in Edwards Lifesciences by 4.2% in the 4th quarter. Smithbridge Asset Management Inc. DE now owns 10,193 shares of the medical research company’s stock valued at $777,000 after purchasing an additional 411 shares during the period. Finally, Trueblood Wealth Management LLC acquired a new stake in Edwards Lifesciences in the 4th quarter valued at $206,000. Institutional investors and hedge funds own 79.46% of the company’s stock.

Insider Buying and Selling at Edwards Lifesciences

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $93.29, for a total transaction of $466,450.00. Following the completion of the transaction, the vice president now owns 46,936 shares of the company’s stock, valued at approximately $4,378,659.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Jean-Luc M. Lemercier sold 14,400 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $84.21, for a total transaction of $1,212,624.00. Following the completion of the transaction, the vice president now owns 173,849 shares of the company’s stock, valued at $14,639,824.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $93.29, for a total value of $466,450.00. Following the transaction, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $4,378,659.44. The disclosure for this sale can be found here. Insiders sold 81,099 shares of company stock valued at $7,003,553 in the last quarter. 1.29% of the stock is currently owned by corporate insiders.

Edwards Lifesciences Stock Performance

Edwards Lifesciences stock traded up $2.67 during midday trading on Friday, reaching $62.37. The stock had a trading volume of 14,111,391 shares, compared to its average volume of 5,310,790. Edwards Lifesciences Co. has a 12 month low of $58.93 and a 12 month high of $96.12. The firm’s 50-day moving average price is $87.98 and its 200 day moving average price is $86.92. The firm has a market capitalization of $37.58 billion, a PE ratio of 26.88, a P/E/G ratio of 2.22 and a beta of 1.11. The company has a quick ratio of 2.67, a current ratio of 3.71 and a debt-to-equity ratio of 0.08.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Wednesday, July 24th. The medical research company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The business 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 22.35% and a net margin of 24.55%. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.66 EPS. As a group, research analysts predict that Edwards Lifesciences Co. will post 2.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on EW shares. Bank of America cut Edwards Lifesciences from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $105.00 to $75.00 in a research note on Thursday. Oppenheimer dropped their price objective on Edwards Lifesciences from $100.00 to $90.00 and set an “outperform” rating on the stock in a research note on Thursday. Stifel Nicolaus dropped their price objective on Edwards Lifesciences from $85.00 to $70.00 and set a “hold” rating on the stock in a research note on Thursday. Baird R W cut Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Finally, Canaccord Genuity Group dropped their price objective on Edwards Lifesciences from $85.00 to $77.00 and set a “hold” rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $82.10.

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.