Edwards Lifesciences Co. (NYSE:EW) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC cut its stake in shares of Edwards Lifesciences Co. (NYSE:EW - Free Report) by 57.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 170,395 shares of the medical research company's stock after selling 228,230 shares during the quarter. Intech Investment Management LLC's holdings in Edwards Lifesciences were worth $12,614,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of EW. FSA Wealth Management LLC purchased a new position in Edwards Lifesciences during the third quarter valued at approximately $30,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Edwards Lifesciences during the fourth quarter valued at approximately $30,000. Prospera Private Wealth LLC purchased a new position in Edwards Lifesciences during the third quarter valued at approximately $32,000. Avior Wealth Management LLC boosted its stake in 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 acquiring an additional 308 shares in the last quarter. Finally, Roble Belko & Company Inc acquired a new stake in Edwards Lifesciences in the fourth quarter valued at approximately $46,000. 79.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on EW shares. Stifel Nicolaus upgraded shares of Edwards Lifesciences from a "hold" rating to a "buy" rating and raised their target price for the company from $75.00 to $90.00 in a research note on Thursday, January 30th. Royal Bank of Canada restated an "outperform" rating and issued a $85.00 target price on shares of Edwards Lifesciences in a research note on Wednesday, February 12th. Morgan Stanley raised their target price on shares of Edwards Lifesciences from $70.00 to $75.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 12th. The Goldman Sachs Group lifted their price objective on shares of Edwards Lifesciences from $81.00 to $90.00 and gave the stock a "buy" rating in a research note on Thursday, December 5th. Finally, Canaccord Genuity Group lifted their price objective on shares of Edwards Lifesciences from $68.00 to $71.00 and gave the stock a "hold" rating in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $79.95.

Remove Ads

Insider Transactions at Edwards Lifesciences

In other news, VP Donald E. Bobo, Jr. sold 9,500 shares of the business's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $67.96, for a total transaction of $645,620.00. Following the completion of the sale, the vice president now owns 46,936 shares of the company's stock, valued at $3,189,770.56. The trade was a 16.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Daniel J. Lippis sold 400 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $69.48, for a total transaction of $27,792.00. Following the sale, the vice president now directly owns 22,588 shares of the company's stock, valued at $1,569,414.24. This represents a 1.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,303 shares of company stock valued at $3,715,776 over the last 90 days. Corporate insiders own 1.29% of the company's stock.

Edwards Lifesciences Stock Performance

EW traded down $0.50 on Friday, reaching $70.46. The stock had a trading volume of 7,144,270 shares, compared to its average volume of 4,607,998. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $96.12. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. The business's 50-day moving average price is $71.42 and its two-hundred day moving average price is $70.36. The company has a market cap of $41.42 billion, a P/E ratio of 10.11, a price-to-earnings-growth ratio of 4.82 and a beta of 1.12.

Edwards Lifesciences (NYSE:EW - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The medical research company reported $0.59 earnings per share 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%. Sell-side analysts forecast that Edwards Lifesciences Co. will post 2.45 earnings per share for the current year.

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.