Kayne Anderson Rudnick Investment Management LLC Has $6.03 Million Stock Holdings in Edwards Lifesciences Co. (NYSE:EW)

Kayne Anderson Rudnick Investment Management LLC decreased its position in shares of Edwards Lifesciences Co. (NYSE:EW) by 2.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,233 shares of the medical research company’s stock after selling 1,432 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Edwards Lifesciences were worth $6,026,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of EW. Crewe Advisors LLC bought a new position in shares of Edwards Lifesciences in the first quarter valued at $28,000. First Community Trust NA acquired a new position in Edwards Lifesciences during the 2nd quarter valued at about $29,000. Riverview Trust Co acquired a new position in Edwards Lifesciences during the 1st quarter valued at about $34,000. DSM Capital Partners LLC purchased a new stake in shares of Edwards Lifesciences in the fourth quarter worth approximately $28,000. Finally, Webster Bank N. A. bought a new position in shares of Edwards Lifesciences in the second quarter valued at approximately $39,000. 79.46% of the stock is owned by institutional investors and hedge funds.

Edwards Lifesciences Trading Down 0.6 %

Shares of EW stock opened at $66.83 on Monday. The business has a 50-day moving average price of $69.89 and a two-hundred day moving average price of $82.80. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $96.12. The company has a quick ratio of 2.87, a current ratio of 3.71 and a debt-to-equity ratio of 0.08. The firm has a market cap of $40.27 billion, a P/E ratio of 28.81, a price-to-earnings-growth ratio of 2.85 and a beta of 1.13.

Edwards Lifesciences (NYSE:EW) last released its earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the previous year, the company posted $0.66 EPS. Edwards Lifesciences’s quarterly revenue was up 6.7% compared to the same quarter last year. Equities analysts anticipate that Edwards Lifesciences Co. will post 2.7 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Robert W. Baird lowered Edwards Lifesciences from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $102.00 to $70.00 in a research report on Thursday, July 25th. UBS Group cut their price target on shares of Edwards Lifesciences from $90.00 to $75.00 and set a “neutral” rating on the stock in a report on Tuesday, September 10th. Stifel Nicolaus cut their price objective on Edwards Lifesciences from $85.00 to $70.00 and set a “hold” rating on the stock in a research report on Thursday, July 25th. Canaccord Genuity Group decreased their target price on Edwards Lifesciences from $85.00 to $77.00 and set a “hold” rating for the company in a research report on Thursday, July 25th. Finally, Wolfe Research upgraded shares of Edwards Lifesciences from an “underperform” rating to a “peer perform” rating in a research report on Monday, July 29th. Sixteen investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $79.82.

Insider Activity at Edwards Lifesciences

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $93.29, for a total value of $466,450.00. Following the completion of the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at $4,378,659.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $93.29, for a total transaction of $466,450.00. Following the completion of the sale, the vice president now directly owns 46,936 shares in the company, valued at $4,378,659.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Daveen Chopra sold 1,250 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total value of $87,437.50. Following the transaction, the vice president now directly owns 29,333 shares of the company’s stock, valued at approximately $2,051,843.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,250 shares of company stock valued at $1,218,138. Insiders own 1.29% of the company’s stock.

Edwards Lifesciences Profile

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.