Confluence Wealth Services Inc. Has $529,000 Position in Edwards Lifesciences Co. (NYSE:EW)

Confluence Wealth Services Inc. lifted its position in shares of Edwards Lifesciences Co. (NYSE:EW) by 7.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,730 shares of the medical research company’s stock after buying an additional 376 shares during the period. Confluence Wealth Services Inc.’s holdings in Edwards Lifesciences were worth $529,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. International Assets Investment Management LLC raised its position in Edwards Lifesciences by 9,720.7% during the fourth quarter. International Assets Investment Management LLC now owns 106,064 shares of the medical research company’s stock worth $8,087,000 after acquiring an additional 104,984 shares in the last quarter. Kestra Private Wealth Services LLC grew its holdings in Edwards Lifesciences by 9.0% during the fourth quarter. Kestra Private Wealth Services LLC now owns 4,796 shares of the medical research company’s stock worth $366,000 after purchasing an additional 396 shares during the period. Natixis Advisors L.P. increased its position in Edwards Lifesciences by 27.6% during the fourth quarter. Natixis Advisors L.P. now owns 227,837 shares of the medical research company’s stock worth $17,372,000 after buying an additional 49,311 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in Edwards Lifesciences by 29.3% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 7,682 shares of the medical research company’s stock valued at $586,000 after buying an additional 1,739 shares during the period. Finally, 9258 Wealth Management LLC lifted its position in shares of Edwards Lifesciences by 24.8% in the fourth quarter. 9258 Wealth Management LLC now owns 10,529 shares of the medical research company’s stock valued at $803,000 after buying an additional 2,093 shares during the last quarter. Institutional investors and hedge funds own 79.46% of the company’s stock.

Edwards Lifesciences Price Performance

Shares of Edwards Lifesciences stock traded down $0.16 during trading on Friday, reaching $69.96. 6,521,766 shares of the company’s stock were exchanged, compared to its average volume of 5,573,983. The firm’s 50-day moving average price is $77.11 and its 200 day moving average price is $84.78. The company has a market cap of $42.14 billion, a P/E ratio of 30.16, a PEG ratio of 2.92 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. Edwards Lifesciences Co. has a 1-year low of $58.93 and a 1-year high of $96.12.

Edwards Lifesciences (NYSE:EW) last issued its earnings results on Wednesday, July 24th. The medical research company reported $0.70 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 business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.66 earnings per share. As a group, research analysts anticipate that Edwards Lifesciences Co. will post 2.7 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on EW. Truist Financial cut Edwards Lifesciences from a “buy” rating to a “hold” rating and dropped their price target for the company from $110.00 to $82.00 in a research note on Thursday, July 25th. Canaccord Genuity Group dropped their price objective on shares of Edwards Lifesciences from $85.00 to $77.00 and set a “hold” rating on the stock in a research report on Thursday, July 25th. The Goldman Sachs Group dropped their price objective on shares of Edwards Lifesciences from $107.00 to $91.00 and set a “buy” rating on the stock in a research report on Friday, July 26th. Bank of America lowered shares of 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 report on Thursday, July 25th. Finally, Evercore ISI dropped their price objective on shares of Edwards Lifesciences from $91.00 to $76.00 and set an “in-line” rating on the stock in a research report on Thursday, July 25th. Fourteen investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $82.10.

Insider Activity

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $87.54, for a total value of $437,700.00. Following the completion of the transaction, the vice president now directly owns 46,936 shares in the company, valued at $4,108,777.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Daveen Chopra sold 1,250 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total transaction of $87,437.50. Following the completion of the transaction, the vice president now directly owns 29,333 shares of the company’s stock, valued at approximately $2,051,843.35. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $87.54, for a total value of $437,700.00. Following the transaction, the vice president now directly owns 46,936 shares in the company, valued at $4,108,777.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,250 shares of company stock worth $1,321,988. 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.