First Horizon Advisors Inc. Lowers Holdings in Edwards Lifesciences Co. (NYSE:EW)

First Horizon Advisors Inc. trimmed its holdings in Edwards Lifesciences Co. (NYSE:EW) by 23.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 11,003 shares of the medical research company’s stock after selling 3,308 shares during the period. First Horizon Advisors Inc.’s holdings in Edwards Lifesciences were worth $815,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the company. Wellington Management Group LLP boosted its stake in shares of Edwards Lifesciences by 86.3% during the 3rd quarter. Wellington Management Group LLP now owns 31,532,725 shares of the medical research company’s stock worth $2,080,845,000 after acquiring an additional 14,610,123 shares in the last quarter. State Street Corp boosted its stake in shares of Edwards Lifesciences by 1.0% during the 3rd quarter. State Street Corp now owns 26,265,633 shares of the medical research company’s stock worth $1,733,270,000 after acquiring an additional 256,538 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Edwards Lifesciences by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 13,521,147 shares of the medical research company’s stock worth $889,050,000 after acquiring an additional 284,918 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of Edwards Lifesciences by 9.8% during the 3rd quarter. Fisher Asset Management LLC now owns 9,078,311 shares of the medical research company’s stock worth $599,078,000 after acquiring an additional 806,705 shares in the last quarter. Finally, Jennison Associates LLC purchased a new stake in shares of Edwards Lifesciences during the 4th quarter worth about $555,939,000. 79.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Evercore ISI lowered their target price on shares of Edwards Lifesciences from $75.00 to $73.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 12th. Truist Financial reissued 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. The Goldman Sachs Group raised their price target on shares of Edwards Lifesciences from $81.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $85.00 price target on shares of Edwards Lifesciences in a research note on Wednesday, February 12th. Finally, Daiwa America lowered shares of Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $79.95.

Edwards Lifesciences Stock Down 0.8 %

EW stock opened at $72.72 on Tuesday. The company has a market cap of $42.89 billion, a price-to-earnings ratio of 10.43, a PEG ratio of 4.82 and a beta of 1.11. 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 12 month low of $58.93 and a 12 month high of $96.12. The firm has a 50-day moving average of $72.83 and a two-hundred day moving average of $70.13.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Tuesday, February 11th. The medical research company reported $0.59 earnings per share (EPS) for the quarter, topping 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, analysts forecast that Edwards Lifesciences Co. will post 2.45 earnings per share for the current fiscal year.

Insider Transactions at Edwards Lifesciences

In other news, VP Daniel J. Lippis sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $68.76, for a total transaction of $34,380.00. Following the completion of the sale, the vice president now owns 23,189 shares in the company, valued at $1,594,475.64. This trade represents a 2.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven R. Loranger sold 5,739 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $76.42, for a total value of $438,574.38. Following the completion of the sale, the director now directly owns 60,372 shares in the company, valued at approximately $4,613,628.24. The trade was a 8.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,489 shares of company stock worth $2,002,829 in the last 90 days. Insiders own 1.29% of the company’s stock.

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.