Wealthspire Advisors LLC Sells 1,349 Shares of Edwards Lifesciences Co. (NYSE:EW)

Wealthspire Advisors LLC lessened its holdings in Edwards Lifesciences Co. (NYSE:EW) by 11.3% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,568 shares of the medical research company’s stock after selling 1,349 shares during the period. Wealthspire Advisors LLC’s holdings in Edwards Lifesciences were worth $976,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Allspring Global Investments Holdings LLC raised its holdings in shares of Edwards Lifesciences by 4.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 330,711 shares of the medical research company’s stock worth $31,603,000 after purchasing an additional 14,087 shares during the period. Empowered Funds LLC raised its stake in shares of Edwards Lifesciences by 151.2% in the first quarter. Empowered Funds LLC now owns 20,123 shares of the medical research company’s stock valued at $1,923,000 after buying an additional 12,112 shares during the period. Cetera Advisors LLC lifted its position in shares of Edwards Lifesciences by 175.1% during the 1st quarter. Cetera Advisors LLC now owns 38,090 shares of the medical research company’s stock valued at $3,640,000 after buying an additional 24,242 shares during the last quarter. TD Asset Management Inc grew its stake in shares of Edwards Lifesciences by 95.1% during the 4th quarter. TD Asset Management Inc now owns 1,323,611 shares of the medical research company’s stock worth $100,925,000 after acquiring an additional 645,204 shares during the period. Finally, Sei Investments Co. grew its stake in shares of Edwards Lifesciences by 10.8% during the 4th quarter. Sei Investments Co. now owns 558,031 shares of the medical research company’s stock worth $42,550,000 after acquiring an additional 54,595 shares during the period. 79.46% of the stock is owned by institutional investors.

Edwards Lifesciences Price Performance

EW opened at $68.52 on Monday. The company has a current ratio of 3.71, a quick ratio of 2.87 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $41.28 billion, a P/E ratio of 29.53, a PEG ratio of 2.85 and a beta of 1.13. The stock has a 50-day moving average price of $72.39 and a 200-day moving average price of $83.45. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $96.12.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results 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 business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period last year, the business earned $0.66 earnings per share. Equities analysts predict that Edwards Lifesciences Co. will post 2.7 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on EW shares. Daiwa America upgraded Edwards Lifesciences to a “strong-buy” rating in a research note on Wednesday, July 31st. TD Cowen downgraded shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and cut their price objective for the stock from $100.00 to $70.00 in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Edwards Lifesciences from $103.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. JPMorgan Chase & Co. downgraded Edwards Lifesciences from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $105.00 to $72.00 in a research report on Thursday, July 25th. Finally, Canaccord Genuity Group reduced their price target on Edwards Lifesciences from $85.00 to $77.00 and set a “hold” rating for the company in a research report on Thursday, July 25th. Fifteen analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Edwards Lifesciences currently has a consensus rating of “Hold” and a consensus price target of $80.29.

Insider Activity

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $66.08, for a total transaction of $330,400.00. Following the completion of the sale, the vice president now directly owns 46,936 shares in the company, valued at approximately $3,101,530.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related 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 of the company’s stock, valued at $2,051,843.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total transaction of $330,400.00. Following the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,101,530.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,250 shares of company stock valued at $1,218,138. 1.29% of the stock is currently owned by insiders.

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.