Commerce Bank Sells 884 Shares of Edwards Lifesciences Co. (NYSE:EW)

Commerce Bank lowered its stake in Edwards Lifesciences Co. (NYSE:EW) by 2.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,250 shares of the medical research company’s stock after selling 884 shares during the period. Commerce Bank’s holdings in Edwards Lifesciences were worth $2,062,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. First Community Trust NA purchased a new position in shares of Edwards Lifesciences in the 2nd quarter valued at approximately $29,000. Webster Bank N. A. bought a new position in Edwards Lifesciences in the second quarter worth $39,000. Versant Capital Management Inc lifted its position in Edwards Lifesciences by 206.3% during the second quarter. Versant Capital Management Inc now owns 484 shares of the medical research company’s stock valued at $45,000 after buying an additional 326 shares during the period. Prospera Private Wealth LLC bought a new stake in shares of Edwards Lifesciences during the 3rd quarter valued at $32,000. Finally, Avior Wealth Management LLC grew its position in shares of Edwards Lifesciences by 138.7% in the 3rd quarter. Avior Wealth Management LLC now owns 530 shares of the medical research company’s stock worth $35,000 after buying an additional 308 shares during the period. 79.46% of the stock is owned by hedge funds and other institutional investors.

Edwards Lifesciences Stock Performance

Shares of EW opened at $70.48 on Friday. Edwards Lifesciences Co. has a one year low of $58.93 and a one year high of $96.12. The business has a fifty day moving average of $67.70 and a 200 day moving average of $75.66. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89. The firm has a market capitalization of $41.57 billion, a P/E ratio of 10.17, a PEG ratio of 3.96 and a beta of 1.12.

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

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Robert W. Baird dropped their price objective on shares of Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Piper Sandler cut their price target on Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Citigroup lowered their price objective on Edwards Lifesciences from $83.00 to $77.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. Morgan Stanley reissued an “equal weight” rating and issued a $70.00 target price on shares of Edwards Lifesciences in a research note on Friday, October 11th. Finally, Barclays lowered their price target on Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday, September 9th. Seventeen research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Edwards Lifesciences presently has a consensus rating of “Hold” and an average price target of $75.67.

Insiders Place Their Bets

In other news, insider Larry L. Wood sold 25,000 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $65.91, for a total value of $1,647,750.00. Following the completion of the sale, the insider now directly owns 198,526 shares of the company’s stock, valued at $13,084,848.66. This represents a 11.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 approximately $3,077,593.52. This trade represents a 9.63 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,000 shares of company stock worth $2,657,000. Company insiders own 1.29% of the company’s stock.

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.