City State Bank Cuts Stock Holdings in Edwards Lifesciences Co. (NYSE:EW)

City State Bank trimmed its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 27.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 667 shares of the medical research company’s stock after selling 250 shares during the period. City State Bank’s holdings in Edwards Lifesciences were worth $49,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in EW. FSA Wealth Management LLC bought a new position in shares of Edwards Lifesciences during the third quarter valued at about $30,000. Prospera Private Wealth LLC bought a new position in shares of Edwards Lifesciences during the third quarter valued at about $32,000. Avior Wealth Management LLC raised its stake in shares of Edwards Lifesciences by 138.7% during the third quarter. Avior Wealth Management LLC now owns 530 shares of the medical research company’s stock valued at $35,000 after acquiring an additional 308 shares during the last quarter. Peoples Bank KS bought a new position in shares of Edwards Lifesciences during the third quarter valued at about $40,000. Finally, JFS Wealth Advisors LLC raised its stake in shares of Edwards Lifesciences by 31.1% during the third quarter. JFS Wealth Advisors LLC now owns 700 shares of the medical research company’s stock valued at $46,000 after acquiring an additional 166 shares during the last quarter. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on EW shares. The Goldman Sachs Group upped their price objective on shares of Edwards Lifesciences from $81.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Bank of America raised shares of Edwards Lifesciences from a “neutral” rating to a “buy” rating and increased their price target for the stock from $82.00 to $90.00 in a research note on Monday, December 16th. Evercore ISI decreased their price target on shares of Edwards Lifesciences from $76.00 to $70.00 and set an “in-line” rating for the company in a research note on Tuesday, October 1st. Daiwa America downgraded shares of Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Truist Financial reissued a “hold” rating and issued a $78.00 price target (up from $70.00) on shares of Edwards Lifesciences in a research note on Thursday, December 5th. Sixteen equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $79.40.

Insider Buying and Selling

In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $65.57, for a total transaction of $327,850.00. Following the transaction, the vice president now owns 46,936 shares in the company, valued at $3,077,593.52. This trade represents a 9.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Larry L. Wood sold 25,000 shares of Edwards Lifesciences stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $65.91, for a total transaction of $1,647,750.00. Following the transaction, the insider now owns 198,526 shares in the company, valued at $13,084,848.66. This represents a 11.18 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,500 shares of company stock worth $2,160,800. 1.29% of the stock is owned by insiders.

Edwards Lifesciences Trading Down 3.0 %

NYSE:EW opened at $71.20 on Tuesday. The company’s 50 day moving average price is $71.73 and its 200-day moving average price is $71.77. Edwards Lifesciences Co. has a 52 week low of $58.93 and a 52 week high of $96.12. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06. The stock has a market cap of $41.99 billion, a price-to-earnings ratio of 10.27, a PEG ratio of 3.61 and a beta of 1.11.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Thursday, October 24th. The medical research company reported $0.67 EPS for the quarter, meeting analysts’ consensus estimates of $0.67. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter in the prior year, the company posted $0.59 earnings per share. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, equities research analysts forecast that Edwards Lifesciences Co. will post 2.56 earnings per share for the current fiscal 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.