Commonwealth Equity Services LLC Lowers Stock Holdings in Edwards Lifesciences Co. (NYSE:EW)

Commonwealth Equity Services LLC lowered its position in shares of Edwards Lifesciences Co. (NYSE:EW - Free Report) by 15.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 163,558 shares of the medical research company's stock after selling 29,569 shares during the quarter. Commonwealth Equity Services LLC's holdings in Edwards Lifesciences were worth $12,108,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in EW. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Edwards Lifesciences in the fourth quarter valued at approximately $30,000. FSA Wealth Management LLC acquired a new stake in Edwards Lifesciences during the 3rd quarter valued at $30,000. Prospera Private Wealth LLC bought a new position in Edwards Lifesciences during the third quarter worth $32,000. Avior Wealth Management LLC increased 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 valued at $35,000 after purchasing an additional 308 shares during the last quarter. Finally, Roble Belko & Company Inc acquired a new position in shares of Edwards Lifesciences in the fourth quarter valued at $46,000. 79.46% of the stock is owned by institutional investors.

Edwards Lifesciences Stock Down 0.7 %

Shares of NYSE EW traded down $0.50 during midday trading on Friday, hitting $70.46. 7,144,270 shares of the stock traded hands, compared to its average volume of 4,607,998. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46. Edwards Lifesciences Co. has a one year low of $58.93 and a one year high of $96.12. The business has a 50 day moving average price of $71.42 and a two-hundred day moving average price of $70.36. The company has a market cap of $41.42 billion, a PE ratio of 10.11, a P/E/G ratio of 4.82 and a beta of 1.12.

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Edwards Lifesciences (NYSE:EW - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The medical research company reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.55 by $0.04. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. On average, equities analysts predict that Edwards Lifesciences Co. will post 2.45 EPS for the current year.

Insider Buying and Selling at Edwards Lifesciences

In related news, CEO Bernard J. Zovighian sold 6,164 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $69.51, for a total value of $428,459.64. Following the transaction, the chief executive officer now owns 59,083 shares in the company, valued at approximately $4,106,859.33. This represents a 9.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Donald E. Bobo, Jr. sold 9,500 shares of the company's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $67.96, for a total value of $645,620.00. Following the transaction, the vice president now directly owns 46,936 shares in the company, valued at $3,189,770.56. This represents a 16.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,303 shares of company stock worth $3,715,776 in the last quarter. 1.29% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on EW. The Goldman Sachs Group lifted their target price on Edwards Lifesciences from $81.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, December 5th. Stifel Nicolaus upgraded shares of Edwards Lifesciences from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $75.00 to $90.00 in a research note on Thursday, January 30th. Citigroup boosted their price objective on shares of Edwards Lifesciences from $81.00 to $83.00 and gave the company a "buy" rating in a report on Wednesday, December 11th. Piper Sandler raised their target price on shares of Edwards Lifesciences from $70.00 to $73.00 and gave the stock a "neutral" rating in a report on Wednesday, February 12th. Finally, Bank of America upgraded Edwards Lifesciences from a "neutral" rating to a "buy" rating and boosted their price target for the company from $82.00 to $90.00 in a research note on Monday, December 16th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, Edwards Lifesciences currently has a consensus rating of "Hold" and a consensus target price of $79.95.

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.