Trust Point Inc. Lowers Stock Holdings in Edwards Lifesciences Co. (NYSE:EW)

Trust Point Inc. decreased its holdings in Edwards Lifesciences Co. (NYSE:EW) by 4.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,984 shares of the medical research company’s stock after selling 548 shares during the quarter. Trust Point Inc.’s holdings in Edwards Lifesciences were worth $725,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Crewe Advisors LLC purchased a new stake in shares of Edwards Lifesciences during the 1st quarter valued at about $28,000. First Community Trust NA purchased a new position in Edwards Lifesciences in the second quarter valued at about $29,000. Riverview Trust Co acquired a new stake in Edwards Lifesciences during the 1st quarter valued at approximately $34,000. Webster Bank N. A. purchased a new stake in Edwards Lifesciences during the 2nd quarter worth approximately $39,000. Finally, Versant Capital Management Inc boosted its stake in shares of Edwards Lifesciences by 206.3% during the 2nd quarter. Versant Capital Management Inc now owns 484 shares of the medical research company’s stock valued at $45,000 after buying an additional 326 shares during the last quarter. Institutional investors and hedge funds own 79.46% of the company’s stock.

Edwards Lifesciences Trading Up 2.6 %

NYSE EW opened at $70.27 on Friday. The firm’s 50 day moving average price is $67.81 and its two-hundred day moving average price is $79.28. The stock has a market cap of $42.34 billion, a price-to-earnings ratio of 30.29, a PEG ratio of 2.83 and a beta of 1.13. Edwards Lifesciences Co. has a twelve month low of $58.93 and a twelve month high of $96.12. 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 (NYSE:EW) last announced its quarterly earnings data 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. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company posted $0.66 EPS. Equities analysts anticipate that Edwards Lifesciences Co. will post 2.71 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Morgan Stanley reaffirmed an “equal weight” rating and issued a $70.00 price target on shares of Edwards Lifesciences in a report on Friday, October 11th. Daiwa America raised shares of Edwards Lifesciences to a “strong-buy” rating in a research report on Wednesday, July 31st. Baird R W cut Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 25th. Evercore ISI decreased their target price on Edwards Lifesciences from $76.00 to $70.00 and set an “in-line” rating for the company in a research report on Tuesday, October 1st. Finally, Barclays dropped their price target on Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Monday, September 9th. Fifteen equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $75.81.

Insider Activity

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $69.51, for a total transaction of $347,550.00. Following the completion of the sale, the vice president now owns 46,936 shares of the company’s stock, valued at approximately $3,262,521.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Edwards Lifesciences news, VP Daveen Chopra sold 1,250 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total value of $87,437.50. Following the completion of the sale, the vice president now owns 29,333 shares of the company’s stock, valued at $2,051,843.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $69.51, for a total value of $347,550.00. Following the transaction, the vice president now directly owns 46,936 shares in the company, valued at approximately $3,262,521.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,250 shares of company stock worth $1,099,238 in the last ninety days. 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.