Edwards Lifesciences Co. (NYSE:EW) Shares Sold by Cerity Partners LLC

Cerity Partners LLC decreased its position in shares of Edwards Lifesciences Co. (NYSE:EW) by 38.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 122,822 shares of the medical research company’s stock after selling 75,611 shares during the quarter. Cerity Partners LLC’s holdings in Edwards Lifesciences were worth $8,105,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Park Avenue Securities LLC grew its holdings in shares of Edwards Lifesciences by 0.5% during the 2nd quarter. Park Avenue Securities LLC now owns 23,484 shares of the medical research company’s stock worth $2,169,000 after purchasing an additional 108 shares during the period. City State Bank raised its stake in shares of Edwards Lifesciences by 16.5% in the 2nd quarter. City State Bank now owns 917 shares of the medical research company’s stock valued at $85,000 after acquiring an additional 130 shares during the period. Stableford Capital II LLC lifted its holdings in shares of Edwards Lifesciences by 2.7% in the 2nd quarter. Stableford Capital II LLC now owns 6,104 shares of the medical research company’s stock worth $533,000 after acquiring an additional 159 shares during the last quarter. Purus Wealth Management LLC boosted its position in shares of Edwards Lifesciences by 5.2% during the 2nd quarter. Purus Wealth Management LLC now owns 3,212 shares of the medical research company’s stock worth $297,000 after purchasing an additional 160 shares during the period. Finally, Busey Bank increased its holdings in Edwards Lifesciences by 1.9% in the 2nd quarter. Busey Bank now owns 8,838 shares of the medical research company’s stock valued at $816,000 after purchasing an additional 165 shares during the last quarter. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Insiders Place Their Bets

In other Edwards Lifesciences news, insider Larry L. Wood sold 25,000 shares of the 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 sale, the insider now owns 198,526 shares in the company, valued at approximately $13,084,848.66. This represents a 11.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $65.57, for a total value of $327,850.00. Following the completion of the transaction, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,077,593.52. This trade represents a 9.63 % 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 worth $2,657,000. 1.27% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have commented on the company. Jefferies Financial Group cut Edwards Lifesciences from a “buy” rating to a “hold” rating and decreased their price target for the stock from $85.00 to $70.00 in a research note on Wednesday, September 18th. Morgan Stanley restated an “equal weight” rating and set a $70.00 target price on shares of Edwards Lifesciences in a report on Friday, October 11th. Truist Financial cut their price target on shares of Edwards Lifesciences from $71.00 to $70.00 and set a “hold” rating on the stock in a research note on Friday, October 25th. Oppenheimer reiterated an “outperform” rating and set a $90.00 target price on shares of Edwards Lifesciences in a report on Thursday, September 12th. Finally, Evercore ISI dropped their price target on shares of Edwards Lifesciences from $76.00 to $70.00 and set an “in-line” rating for the company in a research note on Tuesday, October 1st. Seventeen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $75.90.

Edwards Lifesciences Stock Performance

NYSE:EW opened at $72.06 on Thursday. The firm’s fifty day simple moving average is $67.92 and its 200-day simple moving average is $75.35. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06. The stock has a market cap of $42.50 billion, a PE ratio of 10.40, a price-to-earnings-growth ratio of 4.01 and a beta of 1.12. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $96.12.

Edwards Lifesciences (NYSE:EW) last issued its 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. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period last year, the company posted $0.59 earnings per share. Analysts expect that Edwards Lifesciences Co. will post 2.57 earnings per share for the current fiscal year.

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.