Raymond James & Associates Reduces Stock Position in Edwards Lifesciences Co. (NYSE:EW)

Raymond James & Associates cut its stake in Edwards Lifesciences Co. (NYSE:EW - Free Report) by 8.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,675,733 shares of the medical research company's stock after selling 149,497 shares during the quarter. Raymond James & Associates owned approximately 0.28% of Edwards Lifesciences worth $110,582,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Crewe Advisors LLC purchased a new position in Edwards Lifesciences in the 1st quarter worth approximately $28,000. First Community Trust NA acquired a new stake in shares of Edwards Lifesciences during the 2nd quarter worth approximately $29,000. Riverview Trust Co acquired a new stake in shares of Edwards Lifesciences during the 1st quarter worth approximately $34,000. Webster Bank N. A. acquired a new stake in shares of Edwards Lifesciences during the 2nd quarter worth approximately $39,000. Finally, Peoples Bank KS acquired a new stake in shares of Edwards Lifesciences during the 3rd quarter worth approximately $40,000. 79.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Edwards Lifesciences

In other Edwards Lifesciences news, VP Daveen Chopra sold 1,250 shares of Edwards Lifesciences 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 transaction, the vice president now directly owns 29,333 shares in the company, valued at approximately $2,051,843.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $69.51, for a total transaction of $347,550.00. Following the completion of the transaction, the vice president now directly owns 46,936 shares of the company's stock, valued at $3,262,521.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Daveen Chopra sold 1,250 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total transaction of $87,437.50. Following the transaction, the vice president now directly owns 29,333 shares of the company's stock, valued at $2,051,843.35. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,250 shares of company stock worth $1,099,238. 1.29% of the stock is owned by company insiders.

Edwards Lifesciences Stock Performance

EW traded down $0.19 on Monday, reaching $70.08. The company had a trading volume of 2,930,080 shares, compared to its average volume of 4,564,946. Edwards Lifesciences Co. has a 1 year low of $58.93 and a 1 year high of $96.12. The stock has a market capitalization of $42.23 billion, a PE ratio of 30.29, a P/E/G ratio of 2.83 and a beta of 1.13. The company has a quick ratio of 2.87, a current ratio of 3.71 and a debt-to-equity ratio of 0.08. The stock has a 50-day moving average price of $67.81 and a 200-day moving average price of $79.08.

Edwards Lifesciences (NYSE:EW - Get Free Report) last posted its quarterly earnings data on Wednesday, July 24th. The medical research company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.01. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.65 billion. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. Edwards Lifesciences's quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.66 earnings per share. As a group, research analysts forecast that Edwards Lifesciences Co. will post 2.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Morgan Stanley restated an "equal weight" rating and set a $70.00 price target on shares of Edwards Lifesciences in a report on Friday, October 11th. Piper Sandler dropped their target price on shares of Edwards Lifesciences from $88.00 to $73.00 and set a "neutral" rating for the company in a report on Thursday, July 25th. Bank of America downgraded shares of Edwards Lifesciences from a "buy" rating to a "neutral" rating and dropped their target price for the company from $105.00 to $75.00 in a report on Thursday, July 25th. Truist Financial dropped their target price on shares of Edwards Lifesciences from $82.00 to $71.00 and set a "hold" rating for the company in a report on Friday, September 13th. Finally, Baird R W downgraded shares of Edwards Lifesciences from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 25th. Fifteen investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $75.81.

About Edwards Lifesciences

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.