Edwards Lifesciences Co. (NYSE:EW) Holdings Trimmed by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lowered its holdings in Edwards Lifesciences Co. (NYSE:EW) by 5.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,696 shares of the medical research company’s stock after selling 5,576 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Edwards Lifesciences were worth $8,931,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Focus Financial Network Inc. ADV purchased a new position in shares of Edwards Lifesciences during the 4th quarter valued at $209,000. Eagle Asset Management Inc. acquired a new stake in shares of Edwards Lifesciences during the 4th quarter valued at about $241,000. The Manufacturers Life Insurance Company grew its stake in shares of Edwards Lifesciences by 7.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 782,795 shares of the medical research company’s stock valued at $59,689,000 after buying an additional 57,344 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Edwards Lifesciences by 31.2% in the fourth quarter. CIBC Asset Management Inc now owns 114,975 shares of the medical research company’s stock worth $8,767,000 after buying an additional 27,324 shares during the last quarter. Finally, Lake Street Advisors Group LLC bought a new position in Edwards Lifesciences during the fourth quarter valued at approximately $200,000. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Trading Up 0.1 %

Shares of Edwards Lifesciences stock opened at $65.15 on Thursday. 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 $39.26 billion, a PE ratio of 28.08, a price-to-earnings-growth ratio of 2.80 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 company’s fifty day moving average price is $66.47 and its two-hundred day moving average price is $81.39.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. The firm had revenue of $1.63 billion during 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%. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.66 earnings per share. On average, analysts expect that Edwards Lifesciences Co. will post 2.71 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on EW. Wells Fargo & Company dropped their price target on shares of Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Monday, September 9th. JPMorgan Chase & Co. cut Edwards Lifesciences from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $105.00 to $72.00 in a research report on Thursday, July 25th. Baird R W lowered Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 25th. Canaccord Genuity Group decreased their target price 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. Finally, UBS Group dropped their price target on shares of Edwards Lifesciences from $90.00 to $75.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 10th. Sixteen analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $78.23.

Insider Buying and Selling

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $93.29, for a total transaction of $466,450.00. Following the completion of the transaction, the vice president now directly owns 46,936 shares in the company, valued at $4,378,659.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $93.29, for a total transaction of $466,450.00. Following the completion of the sale, the vice president now owns 46,936 shares of the company’s stock, valued at $4,378,659.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Daveen Chopra sold 1,250 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total value of $87,437.50. Following the completion of the transaction, the vice president now directly owns 29,333 shares in the company, 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 company 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.