Ballentine Partners LLC Sells 670 Shares of Edwards Lifesciences Co. (NYSE:EW)

Ballentine Partners LLC trimmed its stake in Edwards Lifesciences Co. (NYSE:EW) by 12.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,674 shares of the medical research company’s stock after selling 670 shares during the quarter. Ballentine Partners LLC’s holdings in Edwards Lifesciences were worth $308,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Park Avenue Securities LLC boosted its holdings in Edwards Lifesciences by 0.5% in the second quarter. Park Avenue Securities LLC now owns 23,484 shares of the medical research company’s stock worth $2,169,000 after acquiring an additional 108 shares in the last quarter. City State Bank lifted its holdings in shares of Edwards Lifesciences by 16.5% during the second quarter. City State Bank now owns 917 shares of the medical research company’s stock valued at $85,000 after purchasing an additional 130 shares in the last quarter. Valley National Advisers Inc. lifted its holdings in shares of Edwards Lifesciences by 6.0% during the first quarter. Valley National Advisers Inc. now owns 2,677 shares of the medical research company’s stock valued at $255,000 after purchasing an additional 152 shares in the last quarter. Choreo LLC lifted its holdings in shares of Edwards Lifesciences by 4.1% during the first quarter. Choreo LLC now owns 3,840 shares of the medical research company’s stock valued at $367,000 after purchasing an additional 153 shares in the last quarter. Finally, Stableford Capital II LLC lifted its holdings in shares of Edwards Lifesciences by 2.7% during the second quarter. Stableford Capital II LLC now owns 6,104 shares of the medical research company’s stock valued at $533,000 after purchasing an additional 159 shares in the last quarter. 79.46% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $69.51, for a total transaction of $347,550.00. Following the completion of the sale, the vice president now owns 46,936 shares in the company, valued at approximately $3,262,521.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, VP Daveen Chopra sold 1,250 shares of the stock in a transaction that occurred 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 transaction, the vice president now directly owns 29,333 shares of the company’s stock, valued at approximately $2,051,843.35. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $69.51, for a total value of $347,550.00. Following the transaction, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,262,521.36. 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 90 days, insiders sold 16,250 shares of company stock worth $1,099,238. 1.29% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on EW shares. Deutsche Bank Aktiengesellschaft lowered their price target on Edwards Lifesciences from $103.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Citigroup lowered their price target on Edwards Lifesciences from $83.00 to $77.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Bank of America downgraded Edwards Lifesciences from a “buy” rating to a “neutral” rating and lowered their price target for the company from $105.00 to $75.00 in a report on Thursday, July 25th. Barclays lowered their price target on Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Monday, September 9th. Finally, Evercore ISI reduced 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, October 1st. Fifteen research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Edwards Lifesciences has a consensus rating of “Hold” and a consensus price target of $75.67.

Edwards Lifesciences Stock Performance

Shares of EW opened at $68.52 on Tuesday. 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 52 week low of $58.93 and a 52 week high of $96.12. The business has a 50-day simple moving average of $68.10 and a two-hundred day simple moving average of $78.13. The stock has a market cap of $41.29 billion, a price-to-earnings ratio of 29.53, a PEG ratio of 3.00 and a beta of 1.13.

Edwards Lifesciences (NYSE:EW) last released its earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.67. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter last year, the business posted $0.59 earnings per share. The firm’s revenue was up 8.9% on a year-over-year basis. On average, analysts expect that Edwards Lifesciences Co. will post 2.61 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.