Edwards Lifesciences Co. (NYSE:EW) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System cut its stake in Edwards Lifesciences Co. (NYSE:EW) by 7.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 533,086 shares of the medical research company’s stock after selling 42,788 shares during the period. New York State Teachers Retirement System owned about 0.09% of Edwards Lifesciences worth $49,241,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in EW. DSM Capital Partners LLC purchased a new stake in Edwards Lifesciences in the 4th quarter valued at approximately $28,000. Crewe Advisors LLC purchased a new position in Edwards Lifesciences in the first quarter worth $28,000. First Community Trust NA acquired a new stake in Edwards Lifesciences in the second quarter valued at $29,000. Riverview Trust Co purchased a new stake in shares of Edwards Lifesciences during the 1st quarter worth $34,000. Finally, Pingora Partners LLC acquired a new position in shares of Edwards Lifesciences during the 4th quarter worth $38,000. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Insider Activity at Edwards Lifesciences

In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total value of $330,400.00. Following the transaction, the vice president now owns 46,936 shares of the company’s stock, valued at approximately $3,101,530.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, VP Daveen Chopra sold 1,250 shares of the company’s stock in a transaction 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 completion of the transaction, the vice president now directly owns 29,333 shares in the company, valued at $2,051,843.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $66.08, for a total transaction of $330,400.00. Following the sale, the vice president now directly owns 46,936 shares in the company, valued at approximately $3,101,530.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,867 shares of company stock worth $2,077,526. 1.29% of the stock is owned by insiders.

Edwards Lifesciences Trading Down 0.6 %

Shares of EW stock traded down $0.44 during mid-day trading on Friday, hitting $70.86. 1,898,904 shares of the company’s stock were exchanged, compared to its average volume of 4,072,338. The stock has a market cap of $42.70 billion, a price-to-earnings ratio of 30.74, a PEG ratio of 2.57 and a beta of 1.11. The company has a quick ratio of 2.87, a current ratio of 3.71 and a debt-to-equity ratio of 0.08. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $96.12. The stock has a 50-day simple moving average of $79.37 and a two-hundred day simple moving average of $85.49.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The firm had revenue of $1.63 billion for 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 firm’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period last year, the company earned $0.66 EPS. Equities analysts expect that Edwards Lifesciences Co. will post 2.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Citigroup boosted their price objective on shares of Edwards Lifesciences from $105.00 to $106.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Oppenheimer decreased their price target on Edwards Lifesciences from $100.00 to $90.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Bank of America downgraded 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 note on Thursday, July 25th. TD Cowen downgraded Edwards Lifesciences from a “buy” rating to a “hold” rating and decreased their target price for the stock from $100.00 to $70.00 in a research report on Thursday, July 25th. Finally, Robert W. Baird lowered Edwards Lifesciences from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $102.00 to $70.00 in a report on Thursday, July 25th. Fourteen analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.