Salem Investment Counselors Inc. Sells 800 Shares of Edwards Lifesciences Co. (NYSE:EW)

Salem Investment Counselors Inc. lowered its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 7.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,616 shares of the medical research company’s stock after selling 800 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Edwards Lifesciences were worth $712,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in EW. Oppenheimer & Co. Inc. increased its stake in Edwards Lifesciences by 40.0% during the second quarter. Oppenheimer & Co. Inc. now owns 36,745 shares of the medical research company’s stock worth $3,394,000 after acquiring an additional 10,492 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Edwards Lifesciences by 2.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 21,983 shares of the medical research company’s stock valued at $2,031,000 after purchasing an additional 615 shares during the last quarter. J.W. Cole Advisors Inc. increased its position in shares of Edwards Lifesciences by 7.4% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 2,956 shares of the medical research company’s stock valued at $273,000 after purchasing an additional 204 shares during the last quarter. WINTON GROUP Ltd lifted its position in Edwards Lifesciences by 42.6% in the second quarter. WINTON GROUP Ltd now owns 23,590 shares of the medical research company’s stock worth $2,179,000 after buying an additional 7,052 shares during the last quarter. Finally, Plato Investment Management Ltd boosted its stake in Edwards Lifesciences by 10.5% during the second quarter. Plato Investment Management Ltd now owns 8,314 shares of the medical research company’s stock worth $768,000 after buying an additional 793 shares during the period. 79.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EW has been the subject of several analyst reports. Piper Sandler lowered their target price on shares of Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Daiwa America lowered Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Robert W. Baird cut their target price on Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Sanford C. Bernstein raised Edwards Lifesciences from a “strong sell” rating to a “hold” rating in a research note on Monday, October 28th. Finally, Evercore ISI cut their price objective on Edwards Lifesciences from $76.00 to $70.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 1st. Sixteen analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Edwards Lifesciences currently has an average rating of “Hold” and an average target price of $79.40.

Edwards Lifesciences Trading Down 3.0 %

Shares of NYSE EW opened at $71.20 on Tuesday. Edwards Lifesciences Co. has a 1-year low of $58.93 and a 1-year high of $96.12. The business has a fifty day moving average price of $71.73 and a 200 day moving average price of $71.77. The stock has a market capitalization of $41.99 billion, a P/E ratio of 10.27, a price-to-earnings-growth ratio of 3.61 and a beta of 1.11. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.67. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. The company’s revenue was up 8.9% compared to the same quarter last year. During the same period last year, the business earned $0.59 EPS. Equities research analysts expect that Edwards Lifesciences Co. will post 2.56 EPS for the current fiscal year.

Insider Transactions at Edwards Lifesciences

In other news, insider Larry L. Wood sold 25,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $65.91, for a total transaction of $1,647,750.00. Following the transaction, the insider now owns 198,526 shares in the company, valued at $13,084,848.66. This represents a 11.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $65.57, for a total transaction of $327,850.00. Following the completion of the sale, the vice president now owns 46,936 shares of the company’s stock, valued at $3,077,593.52. This trade represents a 9.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,500 shares of company stock valued at $2,160,800. Corporate insiders own 1.29% of the company’s stock.

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.