Oppenheimer Asset Management Inc. Sells 9,179 Shares of Edwards Lifesciences Co. (NYSE:EW)

Oppenheimer Asset Management Inc. cut its stake in shares of Edwards Lifesciences Co. (NYSE:EW - Free Report) by 41.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,804 shares of the medical research company's stock after selling 9,179 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Edwards Lifesciences were worth $845,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. O Shaughnessy Asset Management LLC grew its position in shares of Edwards Lifesciences by 27.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 36,897 shares of the medical research company's stock valued at $3,526,000 after acquiring an additional 7,918 shares during the period. Lake Street Advisors Group LLC grew its position in shares of Edwards Lifesciences by 36.2% during the 1st quarter. Lake Street Advisors Group LLC now owns 3,573 shares of the medical research company's stock valued at $341,000 after acquiring an additional 950 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Edwards Lifesciences by 21,094.6% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 19,711 shares of the medical research company's stock valued at $1,884,000 after acquiring an additional 19,618 shares during the period. Crewe Advisors LLC bought a new stake in shares of Edwards Lifesciences during the 1st quarter valued at $28,000. Finally, Delap Wealth Advisory LLC bought a new stake in shares of Edwards Lifesciences during the 1st quarter valued at $305,000. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on EW shares. Sanford C. Bernstein raised shares of Edwards Lifesciences from a "strong sell" rating to a "hold" rating in a research report on Monday, October 28th. Jefferies Financial Group downgraded shares of Edwards Lifesciences from a "buy" rating to a "hold" rating and dropped their target price for the stock from $85.00 to $70.00 in a report on Wednesday, September 18th. JPMorgan Chase & Co. upped their target price on shares of Edwards Lifesciences from $72.00 to $78.00 and gave the stock a "neutral" rating in a report on Friday, October 25th. Baird R W downgraded shares of Edwards Lifesciences from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 25th. Finally, TD Cowen downgraded shares of Edwards Lifesciences from a "buy" rating to a "hold" rating and dropped their target price for the stock from $100.00 to $70.00 in a report on Thursday, July 25th. Seventeen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $75.67.

Edwards Lifesciences Price Performance

Shares of NYSE EW traded up $0.31 during mid-day trading on Tuesday, hitting $70.20. 4,836,079 shares of the company's stock traded hands, compared to its average volume of 4,655,065. The company's 50-day moving average is $67.53 and its two-hundred day moving average is $76.02. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89. The company has a market capitalization of $41.40 billion, a P/E ratio of 9.88, a PEG ratio of 3.81 and a beta of 1.12. Edwards Lifesciences Co. has a 1 year low of $58.93 and a 1 year high of $96.12.

Edwards Lifesciences (NYSE:EW - Get Free Report) last announced its earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.67. The firm had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.57 billion. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. The business's revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.59 EPS. On average, equities analysts anticipate that Edwards Lifesciences Co. will post 2.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $65.57, for a total transaction of $327,850.00. Following the completion of the sale, the vice president now directly owns 46,936 shares of the company's stock, valued at approximately $3,077,593.52. The trade was a 9.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Larry L. Wood sold 25,000 shares of the company's stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $65.91, for a total transaction of $1,647,750.00. Following the completion of the sale, the insider now directly owns 198,526 shares of the company's stock, valued at approximately $13,084,848.66. This trade represents a 11.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 40,000 shares of company stock worth $2,657,000 over the last quarter. Company insiders own 1.27% of the company's stock.

Edwards Lifesciences Company 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.