Public Employees Retirement Association of Colorado Reduces Stock Position in Edwards Lifesciences Co. (NYSE:EW)

Public Employees Retirement Association of Colorado reduced its holdings in Edwards Lifesciences Co. (NYSE:EW) by 3.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 83,700 shares of the medical research company’s stock after selling 2,992 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Edwards Lifesciences were worth $7,731,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted its stake in shares of Edwards Lifesciences by 4.4% during 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 boosted its stake in shares of Edwards Lifesciences by 151.2% during the 1st quarter. Empowered Funds LLC now owns 20,123 shares of the medical research company’s stock worth $1,923,000 after purchasing an additional 12,112 shares during the period. Cetera Advisors LLC boosted its stake 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 worth $3,640,000 after purchasing an additional 24,242 shares during the period. TD Asset Management Inc lifted its holdings in 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 valued at $100,925,000 after buying an additional 645,204 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in Edwards Lifesciences by 10.8% during the 4th quarter. Sei Investments Co. now owns 558,031 shares of the medical research company’s stock valued at $42,550,000 after buying an additional 54,595 shares in the last quarter. 79.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on EW shares. Oppenheimer reiterated an “outperform” rating and set a $90.00 price objective on shares of Edwards Lifesciences in a report on Thursday, September 12th. TD Cowen lowered shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and decreased their price objective for the company from $100.00 to $70.00 in a report on Thursday, July 25th. Barclays decreased their price objective on shares of Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Monday, September 9th. Bank of America lowered shares of Edwards Lifesciences from a “buy” rating to a “neutral” rating and reduced their price target for the company from $105.00 to $75.00 in a report on Thursday, July 25th. Finally, The Goldman Sachs Group reduced their price target on shares of Edwards Lifesciences from $107.00 to $91.00 and set a “buy” rating for the company in a report on Friday, July 26th. Sixteen analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $79.82.

Insider Buying and Selling

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’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 transaction, the vice president now 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 accessible through this hyperlink. In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences 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 transaction, the vice president now owns 46,936 shares in the company, valued at approximately $3,101,530.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Daveen Chopra sold 1,250 shares of Edwards Lifesciences 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 transaction, the vice president now owns 29,333 shares of the company’s stock, valued at approximately $2,051,843.35. The disclosure for this sale can be found here. Insiders sold 16,250 shares of company stock worth $1,218,138 in the last 90 days. Insiders own 1.29% of the company’s stock.

Edwards Lifesciences Stock Performance

Shares of EW stock opened at $66.83 on Friday. The firm has a market capitalization of $40.27 billion, a price-to-earnings ratio of 28.81, a price-to-earnings-growth ratio of 2.85 and a beta of 1.13. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.71 and a quick ratio of 2.87. The business has a fifty day moving average of $69.89 and a 200 day moving average of $82.83. Edwards Lifesciences Co. has a 1 year low of $58.93 and a 1 year high of $96.12.

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