Reynders McVeigh Capital Management LLC Has $438,000 Stake in Edwards Lifesciences Co. (NYSE:EW)

Reynders McVeigh Capital Management LLC trimmed its holdings in Edwards Lifesciences Co. (NYSE:EW) by 16.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,582 shares of the medical research company’s stock after selling 870 shares during the period. Reynders McVeigh Capital Management LLC’s holdings in Edwards Lifesciences were worth $438,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Edwards Lifesciences by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 52,363,400 shares of the medical research company’s stock worth $3,992,709,000 after acquiring an additional 729,984 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Edwards Lifesciences by 9.5% during the first quarter. Bank of New York Mellon Corp now owns 18,973,304 shares of the medical research company’s stock worth $1,813,089,000 after acquiring an additional 1,644,869 shares in the last quarter. Brown Advisory Inc. raised its holdings in Edwards Lifesciences by 20.1% during the fourth quarter. Brown Advisory Inc. now owns 18,181,420 shares of the medical research company’s stock worth $1,386,333,000 after acquiring an additional 3,048,274 shares in the last quarter. Wellington Management Group LLP raised its holdings in Edwards Lifesciences by 2.4% during the fourth quarter. Wellington Management Group LLP now owns 16,827,510 shares of the medical research company’s stock worth $1,283,098,000 after acquiring an additional 393,109 shares in the last quarter. Finally, Norges Bank bought a new stake in Edwards Lifesciences in the fourth quarter valued at approximately $648,540,000. 79.46% of the stock is owned by institutional investors and hedge funds.

Edwards Lifesciences Trading Down 2.0 %

EW stock traded down $1.82 during trading on Monday, reaching $89.17. The company had a trading volume of 1,313,344 shares, compared to its average volume of 3,382,894. Edwards Lifesciences Co. has a 52 week low of $60.57 and a 52 week high of $96.12. The company has a market cap of $53.73 billion, a P/E ratio of 39.22, a PEG ratio of 3.33 and a beta of 1.11. The business has a 50 day moving average of $88.97 and a 200 day moving average of $86.51. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.75 and a quick ratio of 2.67.

Edwards Lifesciences (NYSE:EW) last posted its earnings results on Thursday, April 25th. The medical research company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. Edwards Lifesciences had a net margin of 23.01% and a return on equity of 22.86%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.58 billion. As a group, sell-side analysts forecast that Edwards Lifesciences Co. will post 2.77 earnings per share for the current fiscal year.

Insider Transactions at Edwards Lifesciences

In related news, CFO Scott B. Ullem sold 7,250 shares of Edwards Lifesciences stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $85.80, for a total transaction of $622,050.00. Following the transaction, the chief financial officer now owns 19,074 shares in the company, valued at approximately $1,636,549.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Bernard J. Zovighian acquired 580 shares of the stock in a transaction on Monday, May 6th. The stock was bought at an average cost of $85.74 per share, with a total value of $49,729.20. Following the transaction, the chief executive officer now directly owns 3,268 shares in the company, valued at $280,198.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Scott B. Ullem sold 7,250 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $85.80, for a total transaction of $622,050.00. Following the completion of the sale, the chief financial officer now directly owns 19,074 shares of the company’s stock, valued at approximately $1,636,549.20. The disclosure for this sale can be found here. Insiders have sold 81,099 shares of company stock worth $7,003,553 in the last 90 days. 1.29% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on EW. Piper Sandler upped their price objective on Edwards Lifesciences from $85.00 to $88.00 and gave the company a “neutral” rating in a research note on Friday, April 26th. Morgan Stanley raised their target price on Edwards Lifesciences from $95.00 to $103.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. Royal Bank of Canada raised their target price on Edwards Lifesciences from $95.00 to $101.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. OTR Global upgraded Edwards Lifesciences from a “mixed” rating to a “positive” rating in a research note on Tuesday, March 26th. Finally, Citigroup raised their target price on Edwards Lifesciences from $105.00 to $106.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, Edwards Lifesciences presently has a consensus rating of “Moderate Buy” and an average price target of $95.24.

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.