Park Avenue Securities LLC Decreases Stock Position in Edwards Lifesciences Co. (NYSE:EW)

Park Avenue Securities LLC lowered its position in shares of Edwards Lifesciences Co. (NYSE:EW) by 59.4% during the third quarter, HoldingsChannel reports. The firm owned 9,544 shares of the medical research company’s stock after selling 13,940 shares during the period. Park Avenue Securities LLC’s holdings in Edwards Lifesciences were worth $630,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in EW. Crewe Advisors LLC purchased a new stake in Edwards Lifesciences during the 1st quarter worth $28,000. First Community Trust NA purchased a new stake in shares of Edwards Lifesciences during the second quarter worth about $29,000. Riverview Trust Co acquired a new position in shares of Edwards Lifesciences in the first quarter worth about $34,000. Webster Bank N. A. purchased a new position in Edwards Lifesciences in the second quarter valued at about $39,000. Finally, Versant Capital Management Inc grew its stake in Edwards Lifesciences by 206.3% during the 2nd quarter. Versant Capital Management Inc now owns 484 shares of the medical research company’s stock valued at $45,000 after purchasing an additional 326 shares in the last quarter. 79.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on EW. Wolfe Research raised Edwards Lifesciences from an “underperform” rating to a “peer perform” rating in a research report on Monday, July 29th. Stifel Nicolaus decreased their price objective on shares of Edwards Lifesciences from $85.00 to $70.00 and set a “hold” rating for the company in a report on Thursday, July 25th. Baird R W lowered shares of Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 25th. UBS Group reduced 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. Finally, Piper Sandler cut their price objective 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. Sixteen investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Edwards Lifesciences currently has an average rating of “Hold” and a consensus price target of $77.27.

Insider Buying and Selling at Edwards Lifesciences

In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was 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 owns 46,936 shares in the company, valued at $3,101,530.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, VP Daveen Chopra sold 1,250 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total transaction 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 $2,051,843.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 value of $330,400.00. Following the completion of the transaction, the vice president now owns 46,936 shares in the company, valued at $3,101,530.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,250 shares of company stock valued at $751,688. 1.29% of the stock is owned by corporate insiders.

Edwards Lifesciences Price Performance

Shares of NYSE EW opened at $68.26 on Friday. The firm’s 50-day simple moving average is $66.86 and its 200 day simple moving average is $80.43. The stock has a market cap of $41.13 billion, a P/E ratio of 29.43, a P/E/G ratio of 2.80 and a beta of 1.13. 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 Co. has a fifty-two week low of $58.93 and a fifty-two week high of $96.12.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.65 billion. During the same period in the prior year, the business posted $0.66 EPS. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. Equities analysts expect that Edwards Lifesciences Co. will post 2.71 EPS for the current year.

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.