Edwards Lifesciences Co. (NYSE:EW) Position Reduced by Point72 Asset Management L.P.

Point72 Asset Management L.P. trimmed its position in Edwards Lifesciences Co. (NYSE:EW) by 85.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 444,162 shares of the medical research company’s stock after selling 2,600,242 shares during the quarter. Point72 Asset Management L.P.’s holdings in Edwards Lifesciences were worth $41,027,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. 9258 Wealth Management LLC lifted its stake in Edwards Lifesciences by 24.8% in the 4th quarter. 9258 Wealth Management LLC now owns 10,529 shares of the medical research company’s stock worth $803,000 after acquiring an additional 2,093 shares in the last quarter. Gryphon Financial Partners LLC lifted its position in shares of Edwards Lifesciences by 35.7% in the fourth quarter. Gryphon Financial Partners LLC now owns 6,454 shares of the medical research company’s stock worth $492,000 after purchasing an additional 1,698 shares in the last quarter. Orion Portfolio Solutions LLC acquired a new stake in shares of Edwards Lifesciences during the fourth quarter worth approximately $3,182,000. Congress Wealth Management LLC DE grew its position in Edwards Lifesciences by 16.3% during the fourth quarter. Congress Wealth Management LLC DE now owns 7,650 shares of the medical research company’s stock valued at $583,000 after purchasing an additional 1,070 shares in the last quarter. Finally, Intech Investment Management LLC increased its stake in Edwards Lifesciences by 65.8% in the 4th quarter. Intech Investment Management LLC now owns 16,450 shares of the medical research company’s stock valued at $1,254,000 after buying an additional 6,526 shares during the period. 79.46% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Edwards Lifesciences

In related 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 sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at $3,101,530.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, 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 transaction, the vice president now directly owns 46,936 shares in the company, valued at $3,101,530.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the vice president now owns 29,333 shares in the company, valued at approximately $2,051,843.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,250 shares of company stock worth $1,218,138. 1.29% of the stock is currently owned by company insiders.

Edwards Lifesciences Stock Performance

EW opened at $65.40 on Thursday. 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 stock’s 50 day moving average price is $69.02 and its two-hundred day moving average price is $82.43. The firm has a market capitalization of $39.40 billion, a P/E ratio of 28.19, a price-to-earnings-growth ratio of 2.80 and a beta of 1.13. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $96.12.

Edwards Lifesciences (NYSE:EW) last announced 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 business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.65 billion. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. Edwards Lifesciences’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.66 earnings per share. On average, equities analysts forecast that Edwards Lifesciences Co. will post 2.71 earnings per share for the current year.

Analysts Set New Price Targets

EW has been the topic of several research analyst reports. Daiwa America upgraded shares of Edwards Lifesciences to a “strong-buy” rating in a report on Wednesday, July 31st. TD Cowen downgraded Edwards Lifesciences from a “buy” rating to a “hold” rating and lowered their target price for the company from $100.00 to $70.00 in a research note on Thursday, July 25th. Piper Sandler dropped their target price on Edwards Lifesciences from $88.00 to $73.00 and set a “neutral” rating on the stock in a research report on Thursday, July 25th. Wells Fargo & Company reduced their price target on Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Monday, September 9th. Finally, UBS Group dropped their price objective on Edwards Lifesciences from $90.00 to $75.00 and set a “neutral” rating on the stock in a report on Tuesday, September 10th. Sixteen investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $79.82.

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.