Edwards Lifesciences Co. (NYSE:EW) Shares Sold by Capital Group Private Client Services Inc.

Capital Group Private Client Services Inc. lowered its position in shares of Edwards Lifesciences Co. (NYSE:EW) by 54.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 167,539 shares of the medical research company’s stock after selling 204,030 shares during the quarter. Capital Group Private Client Services Inc.’s holdings in Edwards Lifesciences were worth $16,010,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Axxcess Wealth Management LLC raised its position in shares of Edwards Lifesciences by 8.7% during the 1st quarter. Axxcess Wealth Management LLC now owns 19,839 shares of the medical research company’s stock worth $1,896,000 after purchasing an additional 1,594 shares during the period. Delap Wealth Advisory LLC acquired a new stake in shares of Edwards Lifesciences during the 1st quarter worth approximately $305,000. Crewe Advisors LLC acquired a new stake in shares of Edwards Lifesciences during the 1st quarter worth approximately $28,000. Tiemann Investment Advisors LLC acquired a new stake in shares of Edwards Lifesciences during the 1st quarter worth approximately $222,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in Edwards Lifesciences by 21,094.6% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 19,711 shares of the medical research company’s stock valued at $1,884,000 after acquiring an additional 19,618 shares during the period. Institutional investors and hedge funds own 79.46% of the company’s stock.

Edwards Lifesciences Stock Performance

EW traded up $2.67 on Friday, hitting $62.37. 14,079,854 shares of the stock traded hands, compared to its average volume of 3,771,425. Edwards Lifesciences Co. has a 52 week low of $58.93 and a 52 week high of $96.12. The company has a current ratio of 3.75, a quick ratio of 2.67 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $37.58 billion, a PE ratio of 27.14, a P/E/G ratio of 3.18 and a beta of 1.11. The business has a fifty day moving average price of $88.51 and a two-hundred day moving average price of $86.93.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Wednesday, July 24th. The medical research company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. Edwards Lifesciences had a return on equity of 22.86% and a net margin of 24.55%. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the company posted $0.66 EPS. The company’s revenue was up 6.7% compared to the same quarter last year. On average, research analysts predict that Edwards Lifesciences Co. will post 2.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Bank of America cut Edwards Lifesciences from a “buy” rating to a “neutral” rating and lowered their target price for the company from $105.00 to $75.00 in a research report on Thursday. Deutsche Bank Aktiengesellschaft decreased their price target on Edwards Lifesciences from $103.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday. Stifel Nicolaus decreased their price target on Edwards Lifesciences from $85.00 to $70.00 and set a “hold” rating for the company in a research note on Thursday. Wells Fargo & Company decreased their price target on Edwards Lifesciences from $99.00 to $90.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Citigroup increased their price target on Edwards Lifesciences from $105.00 to $106.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Edwards Lifesciences currently has an average rating of “Hold” and an average target price of $82.10.

Insider Transactions at Edwards Lifesciences

In other news, VP Jean-Luc M. Lemercier sold 14,400 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $84.21, for a total value of $1,212,624.00. Following the transaction, the vice president now directly owns 173,849 shares of the company’s stock, valued at approximately $14,639,824.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Edwards Lifesciences news, VP Jean-Luc M. Lemercier sold 14,400 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $84.21, for a total transaction of $1,212,624.00. Following the transaction, the vice president now owns 173,849 shares of the company’s stock, valued at approximately $14,639,824.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Scott B. Ullem sold 7,250 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $85.80, for a total value of $622,050.00. Following the transaction, the chief financial officer now directly owns 19,074 shares in the company, valued at approximately $1,636,549.20. The disclosure for this sale can be found here. Insiders have sold 81,099 shares of company stock valued at $7,003,553 in the last three months. 1.29% of the stock is owned by corporate insiders.

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.