Pathstone Holdings LLC Lowers Holdings in Edwards Lifesciences Co. (NYSE:EW)

Pathstone Holdings LLC reduced its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 29.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 89,558 shares of the medical research company’s stock after selling 37,886 shares during the period. Pathstone Holdings LLC’s holdings in Edwards Lifesciences were worth $5,910,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in EW. Price T Rowe Associates Inc. MD raised its stake in shares of Edwards Lifesciences by 57.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,516,260 shares of the medical research company’s stock valued at $622,695,000 after acquiring an additional 2,390,137 shares in the last quarter. Swedbank AB purchased a new position in shares of Edwards Lifesciences in the 1st quarter valued at about $124,511,000. Bank of New York Mellon Corp grew its position in shares of Edwards Lifesciences by 4.3% during the second quarter. Bank of New York Mellon Corp now owns 19,782,909 shares of the medical research company’s stock worth $1,827,347,000 after buying an additional 809,605 shares in the last quarter. AustralianSuper Pty Ltd increased its stake in shares of Edwards Lifesciences by 17.8% during the third quarter. AustralianSuper Pty Ltd now owns 3,273,416 shares of the medical research company’s stock worth $216,013,000 after buying an additional 494,604 shares during the period. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund raised its holdings in Edwards Lifesciences by 422.3% in the third quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 450,233 shares of the medical research company’s stock valued at $29,711,000 after acquiring an additional 364,030 shares in the last quarter. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling 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 Tuesday, October 15th. The shares were sold at an average price of $69.51, for a total transaction of $347,550.00. Following the sale, the vice president now directly owns 46,936 shares in the company, valued at approximately $3,262,521.36. The trade was a 9.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Larry L. Wood sold 25,000 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $65.91, for a total transaction of $1,647,750.00. Following the completion of the transaction, the insider now owns 198,526 shares of the company’s stock, valued at $13,084,848.66. This represents a 11.18 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,000 shares of company stock valued at $2,657,000. 1.29% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have commented on EW shares. JPMorgan Chase & Co. boosted their price target on shares of Edwards Lifesciences from $72.00 to $78.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Wells Fargo & Company dropped their target price on Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Monday, September 9th. Truist Financial decreased their price target on Edwards Lifesciences from $71.00 to $70.00 and set a “hold” rating for the company in a report on Friday, October 25th. Daiwa Capital Markets raised Edwards Lifesciences from a “neutral” rating to an “outperform” rating in a research report on Wednesday, July 31st. Finally, Sanford C. Bernstein upgraded shares of Edwards Lifesciences from a “strong sell” rating to a “hold” rating in a research note on Monday, October 28th. Seventeen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $75.67.

Edwards Lifesciences Price Performance

Shares of NYSE EW opened at $70.49 on Friday. The stock has a fifty day moving average price of $67.70 and a 200 day moving average price of $75.73. Edwards Lifesciences Co. has a 1-year low of $58.93 and a 1-year high of $96.12. 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 company has a market cap of $41.58 billion, a PE ratio of 10.17, a P/E/G ratio of 3.95 and a beta of 1.12.

Edwards Lifesciences (NYSE:EW) last released its earnings results on Thursday, October 24th. The medical research company reported $0.67 EPS for the quarter, hitting the consensus estimate of $0.67. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter last year, the business earned $0.59 EPS. The business’s revenue was up 8.9% on a year-over-year basis. Sell-side analysts forecast that Edwards Lifesciences Co. will post 2.57 EPS for the current 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.