Edwards Lifesciences Co. (NYSE:EW) Shares Sold by Pitcairn Co.

Pitcairn Co. decreased its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 61.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,700 shares of the medical research company’s stock after selling 35,970 shares during the quarter. Pitcairn Co.’s holdings in Edwards Lifesciences were worth $1,498,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Cetera Advisors LLC boosted its holdings in 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 acquiring an additional 24,242 shares during the last quarter. BDF Gestion acquired a new position in Edwards Lifesciences in the second quarter valued at $5,148,000. Tidal Investments LLC boosted its holdings in Edwards Lifesciences by 54.7% in the first quarter. Tidal Investments LLC now owns 30,245 shares of the medical research company’s stock valued at $2,890,000 after acquiring an additional 10,700 shares during the last quarter. Raymond James & Associates boosted its holdings in Edwards Lifesciences by 2.8% in the second quarter. Raymond James & Associates now owns 1,825,230 shares of the medical research company’s stock valued at $168,597,000 after acquiring an additional 50,124 shares during the last quarter. Finally, AIA Group Ltd boosted its holdings in Edwards Lifesciences by 91.7% in the third quarter. AIA Group Ltd now owns 749,524 shares of the medical research company’s stock valued at $49,461,000 after acquiring an additional 358,556 shares during the last quarter. Institutional investors and hedge funds own 79.46% of the company’s stock.

Insider Transactions 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, November 13th. The shares were sold at an average price of $65.57, for a total value of $327,850.00. Following the transaction, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,077,593.52. This represents a 9.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Larry L. Wood sold 25,000 shares of the company’s 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 completion of the transaction, the insider now directly owns 198,526 shares in the company, valued at $13,084,848.66. This trade represents a 11.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,000 shares of company stock valued at $2,657,000. 1.29% of the stock is owned by insiders.

Edwards Lifesciences Price Performance

Shares of NYSE:EW opened at $70.48 on Friday. The company’s fifty day moving average is $67.70 and its two-hundred day moving average is $75.66. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $96.12. The company has a market cap of $41.57 billion, a P/E ratio of 10.17, a price-to-earnings-growth ratio of 3.96 and a beta of 1.12.

Edwards Lifesciences (NYSE:EW) last announced its earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.67. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same period in the previous year, the business earned $0.59 EPS. The company’s revenue was up 8.9% on a year-over-year basis. Equities analysts expect that Edwards Lifesciences Co. will post 2.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Jefferies Financial Group cut Edwards Lifesciences from a “buy” rating to a “hold” rating and reduced their target price for the company from $85.00 to $70.00 in a report on Wednesday, September 18th. UBS Group reduced their price objective on Edwards Lifesciences from $90.00 to $75.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 10th. Daiwa Capital Markets upgraded Edwards Lifesciences from a “neutral” rating to an “outperform” rating in a research note on Wednesday, July 31st. Truist Financial reduced their price objective on Edwards Lifesciences from $71.00 to $70.00 and set a “hold” rating on the stock in a research note on Friday, October 25th. Finally, Wolfe Research upgraded Edwards Lifesciences from an “underperform” rating to a “peer perform” rating in a research note on Monday, July 29th. Seventeen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $75.67.

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.