Parallel Advisors LLC Lowers Stake in Edwards Lifesciences Co. (NYSE:EW)

Parallel Advisors LLC lowered its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 5.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,798 shares of the medical research company’s stock after selling 3,476 shares during the period. Parallel Advisors LLC’s holdings in Edwards Lifesciences were worth $4,871,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Abacus Planning Group Inc. increased its holdings in Edwards Lifesciences by 0.3% in the 4th quarter. Abacus Planning Group Inc. now owns 40,207 shares of the medical research company’s stock valued at $2,977,000 after purchasing an additional 140 shares during the last quarter. Bowman & Co S.C. increased its holdings in Edwards Lifesciences by 1.2% in the 4th quarter. Bowman & Co S.C. now owns 12,487 shares of the medical research company’s stock valued at $924,000 after purchasing an additional 148 shares during the last quarter. Moors & Cabot Inc. increased its holdings in Edwards Lifesciences by 0.3% in the 4th quarter. Moors & Cabot Inc. now owns 54,589 shares of the medical research company’s stock valued at $4,041,000 after purchasing an additional 152 shares during the last quarter. Pegasus Asset Management Inc. increased its holdings in Edwards Lifesciences by 0.4% in the 4th quarter. Pegasus Asset Management Inc. now owns 42,628 shares of the medical research company’s stock valued at $3,156,000 after purchasing an additional 159 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC increased its holdings in Edwards Lifesciences by 1.9% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 8,563 shares of the medical research company’s stock valued at $634,000 after purchasing an additional 162 shares during the last quarter. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Insider Activity

In other news, VP Donald E. Bobo, Jr. sold 9,500 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $67.96, for a total value of $645,620.00. Following the completion of the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,189,770.56. This represents a 16.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Daniel J. Lippis sold 500 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $68.76, for a total transaction of $34,380.00. Following the transaction, the vice president now owns 23,189 shares in the company, valued at approximately $1,594,475.64. This trade represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,303 shares of company stock valued at $3,715,776. Insiders own 1.29% of the company’s stock.

Edwards Lifesciences Price Performance

Shares of EW opened at $70.67 on Tuesday. Edwards Lifesciences Co. has a 1-year low of $58.93 and a 1-year high of $96.12. The stock has a market cap of $41.55 billion, a PE ratio of 10.14, a price-to-earnings-growth ratio of 4.82 and a beta of 1.12. 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 firm has a fifty day moving average price of $71.68 and a 200 day moving average price of $70.34.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Tuesday, February 11th. The medical research company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. As a group, sell-side analysts anticipate that Edwards Lifesciences Co. will post 2.45 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Edwards Lifesciences from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. Evercore ISI dropped their price target on shares of Edwards Lifesciences from $75.00 to $73.00 and set an “in-line” rating for the company in a research note on Wednesday, February 12th. Royal Bank of Canada restated an “outperform” rating and issued a $85.00 price target on shares of Edwards Lifesciences in a research note on Wednesday, February 12th. Truist Financial restated a “hold” rating and issued a $78.00 price target (up previously from $70.00) on shares of Edwards Lifesciences in a research note on Thursday, December 5th. Finally, Wolfe Research downgraded shares of Edwards Lifesciences from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 12th. One 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. Based on data from MarketBeat.com, Edwards Lifesciences has an average rating of “Hold” and an average price target of $79.95.

Edwards Lifesciences Profile

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.