Hartford Investment Management Co. Cuts Position in Edwards Lifesciences Co. (NYSE:EW)

Hartford Investment Management Co. reduced its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 1.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,899 shares of the medical research company’s stock after selling 708 shares during the quarter. Hartford Investment Management Co.’s holdings in Edwards Lifesciences were worth $2,501,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its holdings in Edwards Lifesciences by 4.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 330,711 shares of the medical research company’s stock valued at $31,603,000 after purchasing an additional 14,087 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Edwards Lifesciences by 151.2% during the first quarter. Empowered Funds LLC now owns 20,123 shares of the medical research company’s stock worth $1,923,000 after purchasing an additional 12,112 shares in the last quarter. Cetera Advisors LLC boosted its stake in shares of 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 purchasing an additional 24,242 shares during the period. Financial Sense Advisors Inc. acquired a new stake in Edwards Lifesciences during the 1st quarter valued at $975,000. Finally, BDF Gestion purchased a new stake in Edwards Lifesciences during the 2nd quarter worth $5,148,000. Institutional investors and hedge funds own 79.46% of the company’s stock.

Edwards Lifesciences Price Performance

Shares of NYSE:EW opened at $70.31 on Friday. The firm’s 50 day moving average is $68.04 and its two-hundred day moving average is $78.71. The firm has a market capitalization of $42.37 billion, a P/E ratio of 30.31, a PEG ratio of 2.83 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 52 week low of $58.93 and a 52 week high of $96.12.

Edwards Lifesciences (NYSE:EW) last posted its earnings results on Wednesday, July 24th. The medical research company reported $0.70 EPS 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 analysts’ expectations of $1.65 billion. During the same period last year, the firm earned $0.66 EPS. The firm’s revenue was up 6.7% compared to the same quarter last year. Analysts anticipate that Edwards Lifesciences Co. will post 2.71 earnings per share for the current year.

Insider Transactions at Edwards Lifesciences

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $69.51, for a total value of $347,550.00. Following the completion of the sale, the vice president now owns 46,936 shares of the company’s stock, valued at $3,262,521.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $69.51, for a total transaction of $347,550.00. Following the sale, the vice president now owns 46,936 shares of the company’s stock, valued at $3,262,521.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Daveen Chopra sold 1,250 shares of the stock in a transaction 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 transaction, the vice president now directly owns 29,333 shares of the company’s stock, valued at approximately $2,051,843.35. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,250 shares of company stock valued at $1,099,238. 1.29% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on EW shares. Royal Bank of Canada lowered their target price on Edwards Lifesciences from $85.00 to $75.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. Daiwa America upgraded Edwards Lifesciences to a “strong-buy” rating in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft cut their target price on Edwards Lifesciences from $103.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Citigroup decreased their price target on shares of Edwards Lifesciences from $83.00 to $77.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Finally, Jefferies Financial Group cut shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and cut their price target for the company from $85.00 to $70.00 in a report on Wednesday, September 18th. Fifteen analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $75.81.

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.