Xponance Inc. Trims Position in Edwards Lifesciences Co. (NYSE:EW)

Xponance Inc. lowered its holdings in Edwards Lifesciences Co. (NYSE:EW) by 33.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 92,293 shares of the medical research company’s stock after selling 46,106 shares during the quarter. Xponance Inc.’s holdings in Edwards Lifesciences were worth $8,525,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Park Avenue Securities LLC raised its position in Edwards Lifesciences by 0.5% during the 2nd quarter. Park Avenue Securities LLC now owns 23,484 shares of the medical research company’s stock valued at $2,169,000 after purchasing an additional 108 shares during the last quarter. City State Bank lifted its stake in Edwards Lifesciences by 16.5% in the second quarter. City State Bank now owns 917 shares of the medical research company’s stock worth $85,000 after acquiring an additional 130 shares during the period. Chapin Davis Inc. boosted its holdings in Edwards Lifesciences by 1.7% in the first quarter. Chapin Davis Inc. now owns 8,548 shares of the medical research company’s stock valued at $817,000 after acquiring an additional 140 shares in the last quarter. Johnson Financial Group Inc. increased its position in Edwards Lifesciences by 23.0% during the 4th quarter. Johnson Financial Group Inc. now owns 771 shares of the medical research company’s stock valued at $59,000 after purchasing an additional 144 shares during the period. Finally, Valley National Advisers Inc. raised its holdings in Edwards Lifesciences by 6.0% in the 1st quarter. Valley National Advisers Inc. now owns 2,677 shares of the medical research company’s stock worth $255,000 after purchasing an additional 152 shares in the last quarter. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on EW shares. Jefferies Financial Group lowered shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and cut their target price for the company from $85.00 to $70.00 in a research note on Wednesday, September 18th. Evercore ISI reduced their price objective on Edwards Lifesciences from $91.00 to $76.00 and set an “in-line” rating for the company in a report on Thursday, July 25th. Stifel Nicolaus lowered their target price on shares of Edwards Lifesciences from $85.00 to $70.00 and set a “hold” rating on the stock in a research note on Thursday, July 25th. Wolfe Research upgraded shares of Edwards Lifesciences from an “underperform” rating to a “peer perform” rating in a research note on Monday, July 29th. Finally, Oppenheimer restated an “outperform” rating and set a $90.00 price objective on shares of Edwards Lifesciences in a research report on Thursday, September 12th. Sixteen investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $79.82.

Edwards Lifesciences Stock Up 0.7 %

NYSE EW opened at $67.33 on Tuesday. The company has a quick ratio of 2.87, a current ratio of 3.71 and a debt-to-equity ratio of 0.08. The company has a fifty day moving average of $69.45 and a two-hundred day moving average of $82.61. Edwards Lifesciences Co. has a 52 week low of $58.93 and a 52 week high of $96.12. The firm has a market capitalization of $40.57 billion, a price-to-earnings ratio of 29.02, a PEG ratio of 2.85 and a beta of 1.13.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Wednesday, July 24th. The medical research company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the company posted $0.66 EPS. Edwards Lifesciences’s quarterly revenue was up 6.7% on a year-over-year basis. On average, analysts predict that Edwards Lifesciences Co. will post 2.7 earnings per share for the current year.

Insider Activity at Edwards Lifesciences

In related news, VP Daveen Chopra sold 1,250 shares of the company’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 $2,051,843.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total transaction of $330,400.00. Following the transaction, the vice president now owns 46,936 shares in the company, valued at $3,101,530.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Daveen Chopra sold 1,250 shares of Edwards Lifesciences stock in a transaction that occurred 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 owns 29,333 shares of the company’s stock, valued at $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. 1.29% of the stock is owned by corporate 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.