Spire Wealth Management Cuts Stock Position in Edwards Lifesciences Co. (NYSE:EW)

Spire Wealth Management trimmed its holdings in Edwards Lifesciences Co. (NYSE:EW) by 95.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,885 shares of the medical research company’s stock after selling 76,111 shares during the period. Spire Wealth Management’s holdings in Edwards Lifesciences were worth $359,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Edwards Lifesciences by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 52,964,394 shares of the medical research company’s stock worth $5,061,277,000 after purchasing an additional 600,994 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Edwards Lifesciences by 4.3% in the second quarter. Bank of New York Mellon Corp now owns 19,782,909 shares of the medical research company’s stock worth $1,827,347,000 after buying an additional 809,605 shares in the last quarter. Brown Advisory Inc. boosted its position in shares of Edwards Lifesciences by 20.1% during the fourth quarter. Brown Advisory Inc. now owns 18,181,420 shares of the medical research company’s stock worth $1,386,333,000 after acquiring an additional 3,048,274 shares during the last quarter. Wellington Management Group LLP grew its stake in Edwards Lifesciences by 2.4% during the fourth quarter. Wellington Management Group LLP now owns 16,827,510 shares of the medical research company’s stock valued at $1,283,098,000 after acquiring an additional 393,109 shares in the last quarter. Finally, Norges Bank bought a new stake in Edwards Lifesciences in the 4th quarter valued at $648,540,000. Institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Trading Down 0.2 %

Shares of NYSE EW opened at $69.96 on Tuesday. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $96.12. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.87 and a current ratio of 3.71. The company has a market cap of $42.14 billion, a price-to-earnings ratio of 30.16, a PEG ratio of 2.92 and a beta of 1.11. The business’s 50 day moving average price is $76.71 and its 200-day moving average price is $84.66.

Edwards Lifesciences (NYSE:EW) last released its earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the firm posted $0.66 earnings per share. The business’s revenue was up 6.7% compared to the same quarter last year. On average, sell-side analysts expect that Edwards Lifesciences Co. will post 2.7 earnings per share for the current year.

Wall Street Analysts Forecast Growth

EW has been the subject of several research reports. Baird R W downgraded shares of Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 25th. Canaccord Genuity Group cut their price target on Edwards Lifesciences from $85.00 to $77.00 and set a “hold” rating for the company in a report on Thursday, July 25th. Truist Financial cut Edwards Lifesciences from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $110.00 to $82.00 in a report on Thursday, July 25th. Wells Fargo & Company lowered their target price on Edwards Lifesciences from $99.00 to $90.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Edwards Lifesciences from $103.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Fourteen equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Edwards Lifesciences currently has a consensus rating of “Moderate Buy” and an average target price of $82.10.

Insider Buying and Selling

In other Edwards Lifesciences news, VP Daveen Chopra sold 1,250 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total value of $87,437.50. Following the completion of the sale, the vice president now directly owns 29,333 shares of the company’s stock, valued at approximately $2,051,843.35. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Edwards Lifesciences news, VP Daveen Chopra sold 1,250 shares of Edwards Lifesciences stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total transaction of $87,437.50. Following the completion of the sale, the vice president now directly owns 29,333 shares of the company’s stock, valued at approximately $2,051,843.35. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $66.08, for a total value of $330,400.00. Following the completion of the sale, the vice president now owns 46,936 shares of the company’s stock, valued at $3,101,530.88. The disclosure for this sale can be found here. Insiders have sold 16,250 shares of company stock valued at $1,321,988 in the last 90 days. Company insiders own 1.29% 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.