New York State Common Retirement Fund Cuts Stock Position in Edwards Lifesciences Co. (NYSE:EW)

New York State Common Retirement Fund cut its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 5.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,037,352 shares of the medical research company’s stock after selling 62,127 shares during the quarter. New York State Common Retirement Fund owned approximately 0.17% of Edwards Lifesciences worth $79,098,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. RWA Wealth Partners LLC acquired a new position in Edwards Lifesciences in the fourth quarter valued at approximately $238,000. OLD National Bancorp IN raised its stake in shares of Edwards Lifesciences by 1.2% during the fourth quarter. OLD National Bancorp IN now owns 186,450 shares of the medical research company’s stock worth $14,217,000 after purchasing an additional 2,299 shares during the last quarter. Commerzbank Aktiengesellschaft FI purchased a new stake in shares of Edwards Lifesciences during the fourth quarter worth approximately $218,000. Handelsbanken Fonder AB raised its stake in shares of Edwards Lifesciences by 21.6% during the fourth quarter. Handelsbanken Fonder AB now owns 1,610,182 shares of the medical research company’s stock worth $122,776,000 after purchasing an additional 286,095 shares during the last quarter. Finally, Robbins Farley raised its stake in shares of Edwards Lifesciences by 38.2% during the fourth quarter. Robbins Farley now owns 19,654 shares of the medical research company’s stock worth $1,499,000 after purchasing an additional 5,436 shares during the last quarter. 79.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EW has been the subject of several analyst reports. Citigroup upped their price target on Edwards Lifesciences from $90.00 to $98.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Wells Fargo & Company upgraded Edwards Lifesciences from an “equal weight” rating to an “overweight” rating and set a $94.00 price target for the company in a research note on Friday, February 2nd. Morgan Stanley upped their price target on Edwards Lifesciences from $95.00 to $103.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. StockNews.com cut Edwards Lifesciences from a “buy” rating to a “hold” rating in a research report on Wednesday, March 20th. Finally, Oppenheimer increased their price objective on Edwards Lifesciences from $93.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, March 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $91.73.

Edwards Lifesciences Stock Up 0.9 %

Shares of NYSE:EW opened at $87.73 on Wednesday. The stock’s 50-day moving average price is $90.18 and its two-hundred day moving average price is $78.62. The company has a current ratio of 3.38, a quick ratio of 2.40 and a debt-to-equity ratio of 0.09. Edwards Lifesciences Co. has a 12-month low of $60.57 and a 12-month high of $96.12. The firm has a market cap of $52.81 billion, a price-to-earnings ratio of 38.14, a PEG ratio of 4.31 and a beta of 1.05.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Tuesday, February 6th. The medical research company reported $0.64 EPS for the quarter, hitting analysts’ consensus estimates of $0.64. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.50 billion. Edwards Lifesciences had a return on equity of 23.56% and a net margin of 23.35%. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period last year, the business posted $0.64 EPS. On average, research analysts forecast that Edwards Lifesciences Co. will post 2.76 EPS for the current year.

Insider Transactions at Edwards Lifesciences

In related news, VP Donald E. Bobo, Jr. sold 11,000 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $85.83, for a total transaction of $944,130.00. Following the sale, the vice president now directly owns 39,503 shares in the company, valued at approximately $3,390,542.49. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, VP Jean-Luc M. Lemercier sold 14,400 shares of Edwards Lifesciences stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $92.32, for a total value of $1,329,408.00. Following the completion of the transaction, the vice president now owns 173,849 shares in the company, valued at approximately $16,049,739.68. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 11,000 shares of Edwards Lifesciences stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $85.83, for a total value of $944,130.00. Following the completion of the transaction, the vice president now owns 39,503 shares of the company’s stock, valued at approximately $3,390,542.49. The disclosure for this sale can be found here. Insiders have sold a total of 194,004 shares of company stock worth $17,166,254 in the last three months. 1.27% of the stock is currently owned by company 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.