Strs Ohio reduced its holdings in shares of Edwards Lifesciences Corporation (NYSE:EW – Free Report) by 5.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 122,821 shares of the medical research company’s stock after selling 7,603 shares during the quarter. Strs Ohio’s holdings in Edwards Lifesciences were worth $9,836,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in EW. Level Four Advisory Services LLC boosted its position in Edwards Lifesciences by 3.7% during the 3rd quarter. Level Four Advisory Services LLC now owns 3,301 shares of the medical research company’s stock worth $257,000 after purchasing an additional 119 shares during the period. Evermay Wealth Management LLC raised its position in Edwards Lifesciences by 4.0% in the fourth quarter. Evermay Wealth Management LLC now owns 3,304 shares of the medical research company’s stock valued at $282,000 after purchasing an additional 128 shares during the period. Rehmann Capital Advisory Group lifted its stake in shares of Edwards Lifesciences by 2.1% during the fourth quarter. Rehmann Capital Advisory Group now owns 6,399 shares of the medical research company’s stock worth $546,000 after purchasing an additional 130 shares in the last quarter. Florida Trust Wealth Management Co lifted its stake in shares of Edwards Lifesciences by 1.5% during the fourth quarter. Florida Trust Wealth Management Co now owns 8,810 shares of the medical research company’s stock worth $751,000 after purchasing an additional 132 shares in the last quarter. Finally, McIlrath & Eck LLC boosted its position in shares of Edwards Lifesciences by 14.6% in the fourth quarter. McIlrath & Eck LLC now owns 1,057 shares of the medical research company’s stock worth $90,000 after buying an additional 135 shares during the period. Hedge funds and other institutional investors own 79.46% of the company’s stock.
Edwards Lifesciences Stock Down 0.1%
Shares of NYSE EW opened at $94.31 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.63 and a current ratio of 4.42. Edwards Lifesciences Corporation has a 1 year low of $72.30 and a 1 year high of $94.47. The stock’s 50-day simple moving average is $85.61 and its 200-day simple moving average is $83.57. The firm has a market cap of $54.31 billion, a price-to-earnings ratio of 50.17, a PEG ratio of 2.37 and a beta of 0.86.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on EW shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Edwards Lifesciences in a report on Monday, April 20th. BTIG Research upped their price target on Edwards Lifesciences from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. Wall Street Zen downgraded shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a research report on Saturday. Canaccord Genuity Group set a $85.00 price objective on shares of Edwards Lifesciences and gave the company a “hold” rating in a research note on Friday, April 24th. Finally, TD Cowen reissued a “buy” rating and set a $104.00 target price (up from $97.00) on shares of Edwards Lifesciences in a research report on Tuesday, June 2nd. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.39.
Read Our Latest Research Report on EW
Insiders Place Their Bets
In other news, SVP Andrew M. Dahl sold 568 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $86.08, for a total transaction of $48,893.44. Following the completion of the sale, the senior vice president owned 15,334 shares of the company’s stock, valued at approximately $1,319,950.72. This trade represents a 3.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Scott B. Ullem sold 13,000 shares of Edwards Lifesciences stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $80.04, for a total transaction of $1,040,520.00. Following the completion of the sale, the chief financial officer owned 39,699 shares of the company’s stock, valued at approximately $3,177,507.96. This trade represents a 24.67% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 57,958 shares of company stock valued at $4,839,284. Corporate insiders own 0.31% of the company’s stock.
About Edwards Lifesciences
Edwards Lifesciences is a medical technology company focused on products and therapies for structural heart disease and critical care monitoring. The company designs, develops and manufactures prosthetic heart valves and related delivery systems used in both surgical and minimally invasive (transcatheter) procedures. Its portfolio addresses a range of valvular conditions, with an emphasis on technologies that enable transcatheter aortic valve replacement (TAVR) as an alternative to open-heart surgery.
In addition to transcatheter heart valves—including the widely recognized SAPIEN family—Edwards offers surgical tissue valves and ancillary devices used by cardiac surgeons, interventional cardiologists and hospital teams.
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