Verdence Capital Advisors LLC Has $1.01 Million Stock Position in Edwards Lifesciences Co. (NYSE:EW)

Verdence Capital Advisors LLC lowered its position in Edwards Lifesciences Co. (NYSE:EW) by 5.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,925 shares of the medical research company’s stock after selling 674 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Edwards Lifesciences were worth $1,009,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. DSM Capital Partners LLC acquired a new stake in shares of Edwards Lifesciences in the 4th quarter valued at $28,000. Crewe Advisors LLC acquired a new position in Edwards Lifesciences during the first quarter worth $28,000. First Community Trust NA bought a new position in Edwards Lifesciences during the second quarter valued at about $29,000. Riverview Trust Co acquired a new stake in shares of Edwards Lifesciences in the first quarter worth about $34,000. Finally, Pingora Partners LLC bought a new stake in shares of Edwards Lifesciences during the 4th quarter worth about $38,000. 79.46% of the stock is owned by institutional investors and hedge funds.

Edwards Lifesciences Price Performance

Shares of EW stock opened at $68.75 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.71 and a quick ratio of 2.87. The stock’s fifty day simple moving average is $78.68 and its 200 day simple moving average is $85.24. Edwards Lifesciences Co. has a one year low of $58.93 and a one year high of $96.12. The firm has a market cap of $41.43 billion, a price-to-earnings ratio of 29.63, a P/E/G ratio of 2.57 and a beta of 1.11.

Edwards Lifesciences (NYSE:EW) last issued its earnings results on Wednesday, July 24th. The medical research company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.65 billion. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.66 EPS. On average, analysts expect that Edwards Lifesciences Co. will post 2.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Daveen Chopra sold 1,250 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Edwards Lifesciences news, CEO Bernard J. Zovighian sold 8,617 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $87.68, for a total value of $755,538.56. Following the completion of the sale, the chief executive officer now owns 68,218 shares in the company, valued at approximately $5,981,354.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Daveen Chopra sold 1,250 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total transaction of $87,437.50. Following the transaction, the vice president now owns 29,333 shares in the company, valued at $2,051,843.35. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,867 shares of company stock valued at $2,077,526. 1.29% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on EW. Truist Financial cut Edwards Lifesciences from a “buy” rating to a “hold” rating and decreased their target price for the stock from $110.00 to $82.00 in a research report on Thursday, July 25th. Piper Sandler decreased their price objective on shares of Edwards Lifesciences from $88.00 to $73.00 and set a “neutral” rating for the company in a report on Thursday, July 25th. Oppenheimer dropped their target price on shares of Edwards Lifesciences from $100.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. TD Cowen cut shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and decreased their price target for the company from $100.00 to $70.00 in a report on Thursday, July 25th. Finally, Evercore ISI lowered their price target on Edwards Lifesciences from $91.00 to $76.00 and set an “in-line” rating on the stock in a research report on Thursday, July 25th. Fourteen analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $82.10.

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.