Pacer Advisors Inc. Lowers Stock Holdings in Edwards Lifesciences Co. (NYSE:EW)

Pacer Advisors Inc. lessened its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 1.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,562 shares of the medical research company’s stock after selling 872 shares during the quarter. Pacer Advisors Inc.’s holdings in Edwards Lifesciences were worth $4,301,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of EW. Price T Rowe Associates Inc. MD grew its holdings in Edwards Lifesciences by 57.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,516,260 shares of the medical research company’s stock worth $622,695,000 after acquiring an additional 2,390,137 shares in the last quarter. CIBC Private Wealth Group LLC boosted its position in shares of Edwards Lifesciences by 197.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 3,446,758 shares of the medical research company’s stock valued at $262,815,000 after purchasing an additional 2,286,119 shares during the period. Bank of New York Mellon Corp grew its stake in Edwards Lifesciences by 9.5% during the 1st quarter. Bank of New York Mellon Corp now owns 18,973,304 shares of the medical research company’s stock worth $1,813,089,000 after buying an additional 1,644,869 shares during the last quarter. Sands Capital Management LLC increased its position in Edwards Lifesciences by 34.6% during the fourth quarter. Sands Capital Management LLC now owns 6,103,702 shares of the medical research company’s stock worth $465,407,000 after buying an additional 1,567,526 shares during the period. Finally, CCLA Investment Management lifted its stake in Edwards Lifesciences by 100,739.7% in the first quarter. CCLA Investment Management now owns 1,406,714 shares of the medical research company’s stock valued at $134,092,000 after buying an additional 1,405,319 shares during the last quarter. Institutional investors and hedge funds own 79.46% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on EW shares. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Edwards Lifesciences from $103.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Barclays decreased their target price on shares of Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Monday, September 9th. Canaccord Genuity Group lowered their price target on Edwards Lifesciences from $85.00 to $77.00 and set a “hold” rating on the stock in a report on Thursday, July 25th. Piper Sandler lowered their target price on Edwards Lifesciences from $88.00 to $73.00 and set a “neutral” rating on the stock in a research note on Thursday, July 25th. Finally, UBS Group cut their price target on Edwards Lifesciences from $90.00 to $75.00 and set a “neutral” rating for the company in a research note on Tuesday, September 10th. Sixteen research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $79.82.

Edwards Lifesciences Stock Down 1.5 %

Shares of NYSE EW opened at $66.34 on Wednesday. The firm’s 50-day moving average is $69.02 and its two-hundred day moving average is $82.43. The company has a market capitalization of $39.98 billion, a PE ratio of 28.59, a price-to-earnings-growth ratio of 2.85 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 debt-to-equity ratio of 0.08, a current ratio of 3.71 and a quick ratio of 2.87.

Edwards Lifesciences (NYSE:EW) last announced its earnings results on Wednesday, July 24th. The medical research company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.65 billion. During the same quarter in the prior year, the firm earned $0.66 EPS. Edwards Lifesciences’s quarterly revenue was up 6.7% on a year-over-year basis. Equities analysts anticipate that Edwards Lifesciences Co. will post 2.7 EPS for the current fiscal year.

Insider Buying and Selling

In other Edwards Lifesciences 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 value of $330,400.00. Following the transaction, the vice president now directly owns 46,936 shares in the company, valued at approximately $3,101,530.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other 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 transaction of $87,437.50. Following the completion of the transaction, the vice president now owns 29,333 shares of the company’s stock, valued at approximately $2,051,843.35. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’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 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 disclosure for this sale can be found here. In the last quarter, insiders sold 16,250 shares of company stock worth $1,218,138. 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.