Bellevue Group AG Reduces Stake in Edwards Lifesciences Co. (NYSE:EW)

Bellevue Group AG cut its position in shares of Edwards Lifesciences Co. (NYSE:EW) by 10.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,134,076 shares of the medical research company’s stock after selling 126,385 shares during the period. Edwards Lifesciences accounts for 1.2% of Bellevue Group AG’s holdings, making the stock its 25th biggest position. Bellevue Group AG’s holdings in Edwards Lifesciences were worth $74,838,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. First Community Trust NA acquired a new stake in shares of Edwards Lifesciences in the second quarter valued at approximately $29,000. Prospera Private Wealth LLC acquired a new stake in Edwards Lifesciences during the 3rd quarter valued at $32,000. Avior Wealth Management LLC raised its holdings in shares of Edwards Lifesciences by 138.7% in the third quarter. Avior Wealth Management LLC now owns 530 shares of the medical research company’s stock worth $35,000 after acquiring an additional 308 shares during the last quarter. Webster Bank N. A. purchased a new stake in shares of Edwards Lifesciences in the second quarter valued at $39,000. Finally, Peoples Bank KS acquired a new stake in shares of Edwards Lifesciences during the third quarter valued at $40,000. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

Edwards Lifesciences Trading Down 1.0 %

NYSE:EW opened at $71.35 on Friday. The stock has a market cap of $42.08 billion, a price-to-earnings ratio of 10.30, a price-to-earnings-growth ratio of 4.01 and a beta of 1.12. Edwards Lifesciences Co. has a one year low of $58.93 and a one year high of $96.12. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46. The business’s 50-day simple moving average is $68.10 and its 200 day simple moving average is $75.15.

Edwards Lifesciences (NYSE:EW) last announced its earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.67. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same period in the prior year, the company posted $0.59 EPS. Edwards Lifesciences’s quarterly revenue was up 8.9% on a year-over-year basis. As a group, sell-side analysts predict that Edwards Lifesciences Co. will post 2.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $69.51, for a total value of $347,550.00. Following the completion of the transaction, the vice president now owns 46,936 shares of the company’s stock, valued at $3,262,521.36. The trade was a 9.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Larry L. Wood sold 25,000 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $65.91, for a total transaction of $1,647,750.00. Following the sale, the insider now directly owns 198,526 shares in the company, valued at $13,084,848.66. This trade represents a 11.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,000 shares of company stock valued at $2,657,000 in the last ninety days. Corporate insiders own 1.29% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on EW. Barclays cut their target price on shares of Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Monday, September 9th. Robert W. Baird reduced their price objective on shares of Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Citigroup decreased their target price on shares of Edwards Lifesciences from $83.00 to $77.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Piper Sandler cut their price target on Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Finally, Sanford C. Bernstein upgraded Edwards Lifesciences from a “strong sell” rating to a “hold” rating in a report on Monday, October 28th. Seventeen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $76.85.

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.