Edwards Lifesciences Co. (NYSE:EW) Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. lessened its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 23.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 147,745 shares of the medical research company’s stock after selling 45,421 shares during the quarter. iA Global Asset Management Inc.’s holdings in Edwards Lifesciences were worth $13,647,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Crewe Advisors LLC bought a new position in Edwards Lifesciences in the first quarter worth about $28,000. First Community Trust NA purchased a new position in Edwards Lifesciences during the 2nd quarter valued at about $29,000. Riverview Trust Co purchased a new position in shares of Edwards Lifesciences during the 1st quarter valued at $34,000. DSM Capital Partners LLC acquired a new stake in Edwards Lifesciences in the fourth quarter valued at approximately $28,000. Finally, Webster Bank N. A. acquired a new position in shares of Edwards Lifesciences during the 2nd quarter valued at about $39,000. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Edwards Lifesciences Stock Performance

Shares of EW traded down $0.16 during mid-day trading on Friday, hitting $69.96. 6,521,669 shares of the company’s stock were exchanged, compared to its average volume of 4,127,983. The business’s 50 day moving average is $77.53 and its two-hundred day moving average is $84.91. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $96.12. The company has a current ratio of 3.71, a quick ratio of 2.87 and a debt-to-equity ratio of 0.08. 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.

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

Insiders Place Their Bets

In other Edwards Lifesciences news, VP Daveen Chopra sold 1,250 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total value of $87,437.50. Following the sale, the vice president now directly owns 29,333 shares of the company’s stock, valued at $2,051,843.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, VP Daveen Chopra sold 1,250 shares of Edwards Lifesciences stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total value of $87,437.50. Following the transaction, the vice president now directly owns 29,333 shares of the company’s stock, valued at $2,051,843.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $93.29, for a total transaction of $466,450.00. Following the sale, 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 a total of 16,250 shares of company stock worth $1,321,988 in the last 90 days. 1.29% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have issued reports on EW. Robert W. Baird lowered Edwards Lifesciences from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $102.00 to $70.00 in a research note on Thursday, July 25th. Barclays lowered their price target on Edwards Lifesciences from $101.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday, July 26th. Piper Sandler decreased their price target on shares of Edwards Lifesciences from $88.00 to $73.00 and set a “neutral” rating on the stock in a research note on Thursday, July 25th. StockNews.com downgraded Edwards Lifesciences from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Finally, Canaccord Genuity Group lowered their price target on Edwards Lifesciences from $85.00 to $77.00 and set a “hold” rating for the company in a report on Thursday, July 25th. Fourteen analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.