Eagle Bay Advisors LLC Sells 550 Shares of Edwards Lifesciences Co. (NYSE:EW)

Eagle Bay Advisors LLC trimmed its stake in Edwards Lifesciences Co. (NYSE:EW) by 16.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,740 shares of the medical research company’s stock after selling 550 shares during the period. Eagle Bay Advisors LLC’s holdings in Edwards Lifesciences were worth $181,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of EW. Ballentine Partners LLC boosted its stake in shares of Edwards Lifesciences by 23.1% during the first quarter. Ballentine Partners LLC now owns 5,236 shares of the medical research company’s stock valued at $500,000 after purchasing an additional 984 shares during the period. Global Assets Advisory LLC purchased a new stake in shares of Edwards Lifesciences during the first quarter valued at approximately $3,053,000. Riverview Trust Co purchased a new stake in shares of Edwards Lifesciences during the first quarter valued at approximately $34,000. First Financial Corp IN boosted its stake in shares of Edwards Lifesciences by 50.0% during the first quarter. First Financial Corp IN now owns 1,431 shares of the medical research company’s stock valued at $137,000 after purchasing an additional 477 shares during the period. Finally, Brookstone Capital Management boosted its stake in shares of Edwards Lifesciences by 3.2% during the first quarter. Brookstone Capital Management now owns 12,275 shares of the medical research company’s stock valued at $1,173,000 after purchasing an additional 383 shares during the period. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Insider Activity at Edwards Lifesciences

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $66.08, for a total transaction of $330,400.00. Following the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at $3,101,530.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $66.08, for a total value of $330,400.00. Following the transaction, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,101,530.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Daveen Chopra sold 1,250 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total value of $87,437.50. Following the completion of the transaction, the vice president now directly owns 29,333 shares in the company, valued at $2,051,843.35. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,250 shares of company stock valued at $1,099,238 over the last ninety days. Insiders own 1.29% of the company’s stock.

Edwards Lifesciences Stock Up 1.3 %

Shares of NYSE:EW traded up $0.87 on Wednesday, hitting $70.11. 1,790,388 shares of the company traded hands, compared to its average volume of 4,549,884. The company has a quick ratio of 2.87, a current ratio of 3.71 and a debt-to-equity ratio of 0.08. Edwards Lifesciences Co. has a 52 week low of $58.93 and a 52 week high of $96.12. The company has a market cap of $42.25 billion, a PE ratio of 29.84, a PEG ratio of 2.83 and a beta of 1.13. The stock has a 50 day simple moving average of $67.96 and a 200-day simple moving average of $78.76.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Wednesday, July 24th. The medical research company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period last year, the firm posted $0.66 earnings per share. Edwards Lifesciences’s revenue was up 6.7% compared to the same quarter last year. As a group, research analysts expect that Edwards Lifesciences Co. will post 2.71 earnings per share for the current year.

Analyst Upgrades and Downgrades

EW has been the subject of a number of analyst reports. TD Cowen lowered Edwards Lifesciences from a “buy” rating to a “hold” rating and dropped their price objective for the company from $100.00 to $70.00 in a research note on Thursday, July 25th. JPMorgan Chase & Co. lowered Edwards Lifesciences from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $105.00 to $72.00 in a research note on Thursday, July 25th. Royal Bank of Canada dropped their price target on Edwards Lifesciences from $85.00 to $75.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. Truist Financial dropped their price target on Edwards Lifesciences from $82.00 to $71.00 and set a “hold” rating for the company in a research note on Friday, September 13th. Finally, Piper Sandler dropped their price target on Edwards Lifesciences from $88.00 to $73.00 and set a “neutral” rating for the company in a research note on Thursday, July 25th. Fifteen analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $75.81.

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.