Edwards Lifesciences Co. (NYSE:EW) Position Cut by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its position in shares of Edwards Lifesciences Co. (NYSE:EW) by 2.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 235,948 shares of the medical research company’s stock after selling 6,640 shares during the period. Victory Capital Management Inc.’s holdings in Edwards Lifesciences were worth $21,795,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. 9258 Wealth Management LLC raised its holdings in shares of Edwards Lifesciences by 24.8% during the fourth quarter. 9258 Wealth Management LLC now owns 10,529 shares of the medical research company’s stock valued at $803,000 after buying an additional 2,093 shares during the last quarter. Gryphon Financial Partners LLC boosted its position in Edwards Lifesciences by 35.7% during the 4th quarter. Gryphon Financial Partners LLC now owns 6,454 shares of the medical research company’s stock worth $492,000 after acquiring an additional 1,698 shares during the period. Principal Securities Inc. bought a new position in shares of Edwards Lifesciences in the fourth quarter worth $499,000. Cary Street Partners Investment Advisory LLC grew its stake in shares of Edwards Lifesciences by 13.1% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 5,409 shares of the medical research company’s stock worth $412,000 after purchasing an additional 627 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Edwards Lifesciences by 5.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,172,836 shares of the medical research company’s stock valued at $89,433,000 after purchasing an additional 58,442 shares during the period. Institutional investors and hedge funds own 79.46% of the company’s stock.

Insider Transactions at Edwards Lifesciences

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total value of $330,400.00. Following 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 SEC, which can be accessed through this link. In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction on 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 owns 46,936 shares of the company’s stock, valued at $3,101,530.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Daveen Chopra sold 1,250 shares of the company’s stock in a transaction dated 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 valued at $1,218,138 over the last three months. 1.29% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Wolfe Research upgraded shares of Edwards Lifesciences from an “underperform” rating to a “peer perform” rating in a research report on Monday, July 29th. Oppenheimer decreased their price objective on shares of Edwards Lifesciences from $100.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Evercore ISI dropped their target price on Edwards Lifesciences from $91.00 to $76.00 and set an “in-line” rating on the stock in a report on Thursday, July 25th. Piper Sandler decreased their price target on Edwards Lifesciences from $88.00 to $73.00 and set a “neutral” rating for the company in a research note on Thursday, July 25th. Finally, Daiwa America raised Edwards Lifesciences to a “strong-buy” rating in a research note on Wednesday, July 31st. Fifteen 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’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $80.81.

Edwards Lifesciences Price Performance

Shares of NYSE:EW opened at $68.25 on Thursday. The company’s fifty day moving average is $73.32 and its two-hundred day moving average is $83.72. The company has a market cap of $41.11 billion, a P/E ratio of 29.42, a price-to-earnings-growth ratio of 2.79 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. The company has a quick ratio of 2.87, a current ratio of 3.71 and a debt-to-equity ratio of 0.08.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share 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 firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the previous year, the firm earned $0.66 earnings per share. Edwards Lifesciences’s quarterly revenue was up 6.7% on a year-over-year basis. Equities analysts expect that Edwards Lifesciences Co. will post 2.7 earnings per share for the current fiscal 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.