Envestnet Portfolio Solutions Inc. Has $2.50 Million Position in Edwards Lifesciences Co. (NYSE:EW)

Envestnet Portfolio Solutions Inc. lowered its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 10.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,828 shares of the medical research company’s stock after selling 3,811 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Edwards Lifesciences were worth $2,504,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of EW. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Edwards Lifesciences during the fourth quarter valued at $30,000. FSA Wealth Management LLC bought a new position in shares of Edwards Lifesciences during the third quarter valued at $30,000. Prospera Private Wealth LLC bought a new position in shares of Edwards Lifesciences during the third quarter valued at $32,000. Avior Wealth Management LLC lifted its holdings in shares of Edwards Lifesciences by 138.7% during the third quarter. Avior Wealth Management LLC now owns 530 shares of the medical research company’s stock valued at $35,000 after acquiring an additional 308 shares during the period. Finally, Roble Belko & Company Inc bought a new position in shares of Edwards Lifesciences during the fourth quarter valued at $46,000. Institutional investors and hedge funds own 79.46% of the company’s stock.

Insiders Place Their Bets

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 9,500 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $67.96, for a total transaction of $645,620.00. Following the completion of the transaction, the vice president now owns 46,936 shares of the company’s stock, valued at $3,189,770.56. This represents a 16.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Daniel J. Lippis sold 500 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $68.76, for a total value of $34,380.00. Following the transaction, the vice president now directly owns 23,189 shares of the company’s stock, valued at approximately $1,594,475.64. This trade represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 51,303 shares of company stock valued at $3,715,776 in the last quarter. 1.29% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Wolfe Research cut Edwards Lifesciences from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 12th. Stifel Nicolaus raised Edwards Lifesciences from a “hold” rating to a “buy” rating and lifted their price target for the company from $75.00 to $90.00 in a report on Thursday, January 30th. Canaccord Genuity Group lifted their price target on Edwards Lifesciences from $68.00 to $71.00 and gave the company a “hold” rating in a report on Thursday, February 13th. Citigroup lifted their price target on Edwards Lifesciences from $81.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, Piper Sandler lifted their price target on Edwards Lifesciences from $70.00 to $73.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $79.95.

Edwards Lifesciences Price Performance

Shares of EW opened at $70.91 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46. The stock has a 50 day simple moving average of $71.48 and a 200 day simple moving average of $70.35. Edwards Lifesciences Co. has a 52-week low of $58.93 and a 52-week high of $96.12. The firm has a market capitalization of $41.69 billion, a PE ratio of 10.17, a P/E/G ratio of 4.82 and a beta of 1.12.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings data on Tuesday, February 11th. The medical research company reported $0.59 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts predict that Edwards Lifesciences Co. will post 2.45 EPS for the current fiscal year.

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.