Prio Wealth Limited Partnership Cuts Stock Position in Edwards Lifesciences Co. (NYSE:EW)

Prio Wealth Limited Partnership decreased its holdings in Edwards Lifesciences Co. (NYSE:EW) by 0.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 91,794 shares of the medical research company’s stock after selling 300 shares during the quarter. Prio Wealth Limited Partnership’s holdings in Edwards Lifesciences were worth $8,479,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Allspring Global Investments Holdings LLC increased its holdings in Edwards Lifesciences by 4.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 330,711 shares of the medical research company’s stock worth $31,603,000 after purchasing an additional 14,087 shares during the period. Empowered Funds LLC raised its holdings in Edwards Lifesciences by 151.2% in the first quarter. Empowered Funds LLC now owns 20,123 shares of the medical research company’s stock valued at $1,923,000 after acquiring an additional 12,112 shares in the last quarter. Cetera Advisors LLC raised its holdings in Edwards Lifesciences by 175.1% in the first quarter. Cetera Advisors LLC now owns 38,090 shares of the medical research company’s stock valued at $3,640,000 after acquiring an additional 24,242 shares in the last quarter. Sei Investments Co. lifted its stake in Edwards Lifesciences by 10.8% in the fourth quarter. Sei Investments Co. now owns 558,031 shares of the medical research company’s stock worth $42,550,000 after acquiring an additional 54,595 shares during the last quarter. Finally, Cim LLC acquired a new position in Edwards Lifesciences during the 4th quarter worth approximately $13,724,000. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Insider Buying and Selling at Edwards Lifesciences

In other news, VP Daveen Chopra sold 1,250 shares of the firm’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 sale, the vice president now directly owns 29,333 shares of the company’s stock, valued at approximately $2,051,843.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the 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 completion of the transaction, the vice president now directly owns 46,936 shares of the company’s stock, valued at $3,101,530.88. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Daveen Chopra sold 1,250 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were 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 of the company’s stock, valued at $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 valued at $1,218,138. 1.29% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on EW. JPMorgan Chase & Co. lowered shares of Edwards Lifesciences from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $105.00 to $72.00 in a report on Thursday, July 25th. Royal Bank of Canada decreased their price target on Edwards Lifesciences from $101.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Evercore ISI lowered their price objective on Edwards Lifesciences from $76.00 to $70.00 and set an “in-line” rating for the company in a research report on Tuesday. Baird R W lowered Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 25th. Finally, Piper Sandler decreased their target price 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. Sixteen 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. According to data from MarketBeat.com, Edwards Lifesciences currently has an average rating of “Hold” and an average target price of $78.23.

Edwards Lifesciences Price Performance

Shares of NYSE EW opened at $65.09 on Wednesday. The stock has a fifty day moving average price of $66.90 and a 200 day moving average price of $81.50. Edwards Lifesciences Co. has a 1-year low of $58.93 and a 1-year 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. The company has a market cap of $39.22 billion, a PE ratio of 28.05, a P/E/G ratio of 2.80 and a beta of 1.13.

Edwards Lifesciences (NYSE:EW) last released its earnings results on Wednesday, July 24th. The medical research company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter last year, the business earned $0.66 EPS. The business’s revenue was up 6.7% on a year-over-year basis. Sell-side analysts forecast that Edwards Lifesciences Co. will post 2.71 EPS for the current year.

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.