Edwards Lifesciences Co. (NYSE:EW) Shares Sold by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV decreased its position in Edwards Lifesciences Co. (NYSE:EW) by 0.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 55,207 shares of the medical research company’s stock after selling 213 shares during the period. Edwards Lifesciences comprises 0.6% of Azzad Asset Management Inc. ADV’s investment portfolio, making the stock its 27th biggest position. Azzad Asset Management Inc. ADV’s holdings in Edwards Lifesciences were worth $5,099,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. DSM Capital Partners LLC purchased a new position in Edwards Lifesciences during the fourth quarter valued at $28,000. Crewe Advisors LLC acquired a new position in shares of Edwards Lifesciences during the 1st quarter valued at about $28,000. First Community Trust NA purchased a new stake in shares of Edwards Lifesciences in the second quarter valued at about $29,000. Riverview Trust Co acquired a new stake in Edwards Lifesciences during the first quarter worth about $34,000. Finally, Pingora Partners LLC purchased a new position in Edwards Lifesciences during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 79.46% of the company’s stock.

Edwards Lifesciences Stock Down 0.2 %

Shares of EW traded down $0.16 during midday trading on Friday, hitting $69.96. The company had a trading volume of 6,521,669 shares, compared to its average volume of 4,127,983. Edwards Lifesciences Co. has a 1 year low of $58.93 and a 1 year high of $96.12. The firm has a market capitalization of $42.16 billion, a P/E ratio of 30.16, a P/E/G ratio of 2.57 and a beta of 1.11. 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 company’s 50-day simple moving average is $77.53 and its 200-day simple moving average is $84.91.

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

Insider Buying and Selling

In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $66.08, for a total value of $330,400.00. Following the transaction, the vice president now owns 46,936 shares in the company, valued at approximately $3,101,530.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP Daveen Chopra sold 1,250 shares of Edwards Lifesciences stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total transaction of $87,437.50. Following the sale, the vice president now directly owns 29,333 shares in the company, valued at approximately $2,051,843.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total transaction of $330,400.00. Following the completion of the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at $3,101,530.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,250 shares of company stock worth $1,321,988. Corporate insiders own 1.29% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Baird R W downgraded shares of Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 25th. Oppenheimer cut their target price on Edwards Lifesciences from $100.00 to $90.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Piper Sandler lowered their price target on Edwards Lifesciences from $88.00 to $73.00 and set a “neutral” rating for the company in a report on Thursday, July 25th. Bank of America lowered shares of Edwards Lifesciences from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $105.00 to $75.00 in a report on Thursday, July 25th. Finally, Barclays decreased their target price on shares of Edwards Lifesciences from $101.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday, July 26th. Fourteen investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $82.10.

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.