Park Place Capital Corp Sells 1,085 Shares of Edwards Lifesciences Co. (NYSE:EW)

Park Place Capital Corp lessened its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 79.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 279 shares of the medical research company’s stock after selling 1,085 shares during the period. Park Place Capital Corp’s holdings in Edwards Lifesciences were worth $26,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in EW. Allspring Global Investments Holdings LLC increased its stake in shares of Edwards Lifesciences by 4.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 330,711 shares of the medical research company’s stock valued at $31,603,000 after purchasing an additional 14,087 shares during the last quarter. Empowered Funds LLC lifted its holdings in Edwards Lifesciences by 151.2% during the 1st quarter. Empowered Funds LLC now owns 20,123 shares of the medical research company’s stock worth $1,923,000 after buying an additional 12,112 shares during the period. Telos Capital Management Inc. lifted its holdings in Edwards Lifesciences by 158.2% during the 4th quarter. Telos Capital Management Inc. now owns 91,405 shares of the medical research company’s stock worth $6,970,000 after buying an additional 56,000 shares during the period. HealthInvest Partners AB acquired a new position in Edwards Lifesciences during the 4th quarter worth about $1,587,000. Finally, Ninety One UK Ltd lifted its holdings in Edwards Lifesciences by 2,740.5% during the 4th quarter. Ninety One UK Ltd now owns 498,029 shares of the medical research company’s stock worth $37,975,000 after buying an additional 480,496 shares during the period. Institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Stock Performance

NYSE EW traded up $0.77 on Monday, hitting $61.60. 4,197,742 shares of the stock traded hands, compared to its average volume of 3,936,165. Edwards Lifesciences Co. has a 12 month low of $58.93 and a 12 month high of $96.12. The business’s fifty day moving average is $85.32 and its two-hundred day moving average is $86.58. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.87 and a current ratio of 3.71. The firm has a market capitalization of $37.11 billion, a price-to-earnings ratio of 25.76, a PEG ratio of 2.57 and a beta of 1.11.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Wednesday, July 24th. The medical research company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the company earned $0.66 earnings per share. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. As a group, equities analysts anticipate that Edwards Lifesciences Co. will post 2.71 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on EW. Baird R W lowered Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 25th. Royal Bank of Canada dropped their price target on Edwards Lifesciences from $101.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Bank of America downgraded Edwards Lifesciences from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $105.00 to $75.00 in a research note on Thursday, July 25th. Canaccord Genuity Group lowered their price objective on Edwards Lifesciences from $85.00 to $77.00 and set a “hold” rating for the company in a research note on Thursday, July 25th. Finally, Wolfe Research raised Edwards Lifesciences from an “underperform” rating to a “peer perform” rating in a research note on Monday, July 29th. Fourteen research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $82.10.

Insider Buying and Selling

In related news, VP Daniel J. Lippis sold 857 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $85.60, for a total value of $73,359.20. Following the sale, the vice president now owns 23,890 shares in the company, valued at $2,044,984. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Scott B. Ullem sold 5,625 shares of Edwards Lifesciences stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $90.45, for a total value of $508,781.25. Following the transaction, the chief financial officer now owns 30,561 shares in the company, valued at $2,764,242.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Daniel J. Lippis sold 857 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $85.60, for a total value of $73,359.20. Following the completion of the sale, the vice president now directly owns 23,890 shares in the company, valued at $2,044,984. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,099 shares of company stock worth $2,680,879. Corporate insiders own 1.29% of the company’s stock.

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.