Edwards Lifesciences Corporation $EW Stock Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lessened its stake in shares of Edwards Lifesciences Corporation (NYSE:EW) by 5.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,820 shares of the medical research company’s stock after selling 5,059 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Edwards Lifesciences were worth $8,185,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. BlackRock Inc. purchased a new position in shares of Edwards Lifesciences during the second quarter worth $5,318,092,000. Varma Mutual Pension Insurance Co acquired a new position in Edwards Lifesciences during the 2nd quarter worth about $11,168,000. Assenagon Asset Management S.A. boosted its holdings in Edwards Lifesciences by 50.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,719,271 shares of the medical research company’s stock valued at $234,727,000 after acquiring an additional 906,345 shares during the period. Conway Capital Management Inc. purchased a new stake in Edwards Lifesciences during the second quarter worth about $954,000. Finally, Commerce Bank purchased a new stake in Edwards Lifesciences during the second quarter worth about $3,121,000. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 48,900 shares of the firm’s stock in a transaction on Monday, November 9th. The stock was sold at an average price of $103.05, for a total value of $5,039,145.00. Following the completion of the sale, the vice president owned 22,798 shares of the company’s stock, valued at approximately $2,349,333.90. This trade represents a 68.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Daniel J. Lippis sold 619 shares of the business’s stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $104.25, for a total transaction of $64,530.75. Following the sale, the vice president owned 40,034 shares in the company, valued at $4,173,544.50. The trade was a 1.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 53,945 shares of company stock worth $5,498,306 over the last three months. 0.31% of the stock is owned by company insiders.

Edwards Lifesciences Price Performance

Shares of NYSE EW opened at $107.16 on Friday. The stock’s 50-day simple moving average is $90.42 and its 200-day simple moving average is $86.32. The firm has a market capitalization of $61.62 billion, a PE ratio of 35.99, a price-to-earnings-growth ratio of 2.82 and a beta of 0.85. Edwards Lifesciences Corporation has a fifty-two week low of $74.66 and a fifty-two week high of $107.69. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.86 and a current ratio of 4.60.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Wednesday, November 4th. The medical research company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.68 billion. Edwards Lifesciences had a return on equity of 16.06% and a net margin of 15.30%. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.67 earnings per share. As a group, equities research analysts forecast that Edwards Lifesciences Corporation will post 3.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. TD Cowen raised their price objective on shares of Edwards Lifesciences from $117.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. raised their price target on shares of Edwards Lifesciences from $105.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, November 5th. Truist Financial set a $113.00 price target on shares of Edwards Lifesciences and gave the stock a “buy” rating in a research note on Wednesday, November 4th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $113.00 price objective (up from $100.00) on shares of Edwards Lifesciences in a research report on Thursday, November 5th. Finally, Raymond James Financial increased their price objective on Edwards Lifesciences from $100.00 to $103.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Twenty-three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $109.56.

Edwards Lifesciences Profile

Edwards Lifesciences is a medical technology company focused on therapies for structural heart disease and critical care. Its products include transcatheter and surgical heart valves, as well as technologies used to monitor patients during intensive care and surgery. The company traces its origins to 1958, when engineer Lowell Edwards and surgeon Albert Starr began developing an artificial heart valve. Their work led to the Starr-Edwards valve, introduced in 1960. Edwards Lifesciences is headquartered in Irvine, California, and serves clinicians and patients around the world.