Synovus Financial Corp Sells 13,938 Shares of Edwards Lifesciences Co. (NYSE:EW)

Synovus Financial Corp reduced its stake in Edwards Lifesciences Co. (NYSE:EW - Free Report) by 22.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,385 shares of the medical research company's stock after selling 13,938 shares during the period. Synovus Financial Corp's holdings in Edwards Lifesciences were worth $3,259,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. FSA Wealth Management LLC acquired a new position in Edwards Lifesciences in the 3rd quarter valued at about $30,000. Prospera Private Wealth LLC purchased a new position in Edwards Lifesciences during the 3rd quarter valued at about $32,000. Avior Wealth Management LLC raised its position in shares of Edwards Lifesciences by 138.7% during the 3rd quarter. Avior Wealth Management LLC now owns 530 shares of the medical research company's stock worth $35,000 after purchasing an additional 308 shares during the last quarter. Peoples Bank KS purchased a new stake in shares of Edwards Lifesciences in the third quarter valued at $40,000. Finally, JFS Wealth Advisors LLC lifted its stake in shares of Edwards Lifesciences by 31.1% during the 3rd quarter. JFS Wealth Advisors LLC now owns 700 shares of the medical research company's stock worth $46,000 after purchasing an additional 166 shares during the period. 79.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Edwards Lifesciences

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $69.51, for a total value of $347,550.00. Following the transaction, the vice president now owns 46,936 shares in the company, valued at $3,262,521.36. This trade represents a 9.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Larry L. Wood sold 25,000 shares of the business's stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $65.91, for a total value of $1,647,750.00. Following the transaction, the insider now directly owns 198,526 shares of the company's stock, valued at $13,084,848.66. This represents a 11.18 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,000 shares of company stock valued at $2,323,150. 1.29% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on EW shares. Truist Financial restated a "hold" rating and issued a $78.00 price objective (up from $70.00) on shares of Edwards Lifesciences in a report on Thursday, December 5th. Piper Sandler cut their target price on shares of Edwards Lifesciences from $73.00 to $70.00 and set a "neutral" rating on the stock in a research note on Friday, October 25th. UBS Group decreased their price objective on shares of Edwards Lifesciences from $90.00 to $75.00 and set a "neutral" rating for the company in a report on Tuesday, September 10th. Citigroup lifted their target price on Edwards Lifesciences from $81.00 to $83.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Sanford C. Bernstein raised shares of Edwards Lifesciences from a "strong sell" rating to a "hold" rating in a report on Monday, October 28th. Seventeen analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $78.65.

Edwards Lifesciences Trading Down 0.9 %

NYSE EW traded down $0.65 on Friday, hitting $73.32. 3,092,539 shares of the stock were exchanged, compared to its average volume of 4,642,550. Edwards Lifesciences Co. has a 52-week low of $58.93 and a 52-week high of $96.12. 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 $43.24 billion, a price-to-earnings ratio of 10.58, a P/E/G ratio of 3.63 and a beta of 1.12. The company's 50-day moving average price is $69.42 and its two-hundred day moving average price is $73.99.

Edwards Lifesciences (NYSE:EW - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The medical research company reported $0.67 earnings per share for the quarter, meeting the consensus estimate of $0.67. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.57 billion. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. The company's revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.59 EPS. Research analysts predict that Edwards Lifesciences Co. will post 2.56 EPS for the current year.

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.