Ascension Asset Management LLC Sells 1,275 Shares of Edwards Lifesciences Co. (NYSE:EW)

Ascension Asset Management LLC decreased its stake in Edwards Lifesciences Co. (NYSE:EW) by 7.1% in the second quarter, Holdings Channel.com reports. The firm owned 16,650 shares of the medical research company’s stock after selling 1,275 shares during the period. Ascension Asset Management LLC’s holdings in Edwards Lifesciences were worth $1,538,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of EW. 9258 Wealth Management LLC raised its position 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 purchasing an additional 2,093 shares during the period. Gryphon Financial Partners LLC raised its holdings 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 buying an additional 1,698 shares during the period. Stifel Financial Corp lifted its stake in shares of Edwards Lifesciences by 9.6% during the 4th quarter. Stifel Financial Corp now owns 234,488 shares of the medical research company’s stock worth $17,880,000 after acquiring an additional 20,447 shares during the last quarter. Focus Financial Network Inc. ADV purchased a new position in Edwards Lifesciences during the 4th quarter valued at $209,000. Finally, Dorsey & Whitney Trust CO LLC grew its position in Edwards Lifesciences by 3.6% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 7,092 shares of the medical research company’s stock valued at $541,000 after acquiring an additional 246 shares during the last quarter. Institutional investors own 79.46% of the company’s stock.

Insider Activity

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences 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 completion of the sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Daveen Chopra sold 1,250 shares of the 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 transaction, the vice president now directly owns 29,333 shares of the company’s stock, valued at $2,051,843.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $330,400.00. Following the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,101,530.88. The disclosure for this sale can be found here. Insiders have sold a total of 16,250 shares of company stock worth $1,218,138 over the last 90 days. 1.29% of the stock is currently owned by corporate insiders.

Edwards Lifesciences Price Performance

NYSE EW opened at $66.58 on Friday. The firm’s fifty day simple moving average is $67.78 and its two-hundred day simple moving average is $81.96. The firm has a market capitalization of $40.12 billion, a P/E ratio of 28.70, a P/E/G ratio of 2.80 and a beta of 1.13. The company has a current ratio of 3.71, a quick ratio of 2.87 and a debt-to-equity ratio of 0.08. 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 for the quarter, topping 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 the consensus estimate of $1.65 billion. During the same period in the previous year, the business earned $0.66 EPS. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. Analysts forecast that Edwards Lifesciences Co. will post 2.71 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. 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. TD Cowen lowered shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and decreased their price objective for the company from $100.00 to $70.00 in a report on Thursday, July 25th. Royal Bank of Canada dropped their target price on shares of Edwards Lifesciences from $101.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Truist Financial decreased their price target on shares of Edwards Lifesciences from $82.00 to $71.00 and set a “hold” rating for the company in a research note on Friday, September 13th. Finally, Barclays dropped their price objective on Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Monday, September 9th. Sixteen equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $79.82.

Edwards Lifesciences 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.