First American Bank Cuts Stock Position in Edwards Lifesciences Co. (NYSE:EW)

First American Bank trimmed its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 0.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 141,271 shares of the medical research company’s stock after selling 1,036 shares during the quarter. First American Bank’s holdings in Edwards Lifesciences were worth $10,458,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of EW. Harbor Capital Advisors Inc. grew its stake in Edwards Lifesciences by 2.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 11,135 shares of the medical research company’s stock valued at $824,000 after acquiring an additional 273 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Edwards Lifesciences by 34.6% in the fourth quarter. Nordea Investment Management AB now owns 4,057,013 shares of the medical research company’s stock valued at $301,355,000 after purchasing an additional 1,043,484 shares in the last quarter. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST increased its holdings in shares of Edwards Lifesciences by 6.7% in the fourth quarter. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST now owns 4,800,000 shares of the medical research company’s stock valued at $355,344,000 after purchasing an additional 300,000 shares during the last quarter. Sivik Global Healthcare LLC purchased a new position in Edwards Lifesciences during the fourth quarter worth approximately $3,702,000. Finally, Avanza Fonder AB acquired a new position in Edwards Lifesciences during the fourth quarter worth $4,845,000. Institutional investors and hedge funds own 79.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on EW shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $85.00 target price on shares of Edwards Lifesciences in a research note on Wednesday, February 12th. Truist Financial reaffirmed a “hold” rating and set a $78.00 target price (up from $70.00) on shares of Edwards Lifesciences in a research note on Thursday, December 5th. Stifel Nicolaus upgraded shares of Edwards Lifesciences from a “hold” rating to a “buy” rating and boosted their target price for the company from $75.00 to $90.00 in a report on Thursday, January 30th. Barclays raised their price target on shares of Edwards Lifesciences from $88.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Finally, Evercore ISI decreased their price objective on Edwards Lifesciences from $75.00 to $73.00 and set an “in-line” rating on the stock in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Edwards Lifesciences presently has a consensus rating of “Hold” and a consensus price target of $79.95.

Edwards Lifesciences Stock Down 0.7 %

Edwards Lifesciences stock opened at $71.42 on Friday. The firm has a market capitalization of $42.12 billion, a P/E ratio of 10.25, a P/E/G ratio of 4.82 and a beta of 1.10. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. Edwards Lifesciences Co. has a twelve month low of $58.93 and a twelve month high of $96.12. The stock’s fifty day simple moving average is $72.71 and its 200-day simple moving average is $70.20.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Tuesday, February 11th. The medical research company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.04. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. As a group, equities analysts expect that Edwards Lifesciences Co. will post 2.45 earnings per share for the current fiscal year.

Insider Activity at Edwards Lifesciences

In other Edwards Lifesciences news, CFO Scott B. Ullem sold 11,250 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $75.76, for a total value of $852,300.00. Following the completion of the transaction, the chief financial officer now owns 30,561 shares in the company, valued at $2,315,301.36. This represents a 26.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Daniel J. Lippis sold 2,500 shares of Edwards Lifesciences stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $74.08, for a total value of $185,200.00. Following the sale, the vice president now owns 23,189 shares in the company, valued at $1,717,841.12. This trade represents a 9.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,489 shares of company stock valued at $2,002,829 over the last 90 days. 1.29% of the stock is owned by corporate insiders.

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.