Touchstone Capital Inc. Reduces Stock Position in Edwards Lifesciences Co. (NYSE:EW)

Touchstone Capital Inc. decreased its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 32.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,673 shares of the medical research company’s stock after selling 14,824 shares during the quarter. Edwards Lifesciences comprises 3.1% of Touchstone Capital Inc.’s holdings, making the stock its 15th largest holding. Touchstone Capital Inc.’s holdings in Edwards Lifesciences were worth $2,024,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Park Avenue Securities LLC grew its stake in Edwards Lifesciences by 0.5% during the 2nd quarter. Park Avenue Securities LLC now owns 23,484 shares of the medical research company’s stock worth $2,169,000 after purchasing an additional 108 shares in the last quarter. City State Bank lifted its holdings in Edwards Lifesciences by 16.5% during the 2nd quarter. City State Bank now owns 917 shares of the medical research company’s stock worth $85,000 after buying an additional 130 shares during the last quarter. Chapin Davis Inc. lifted its holdings in Edwards Lifesciences by 1.7% during the 1st quarter. Chapin Davis Inc. now owns 8,548 shares of the medical research company’s stock worth $817,000 after buying an additional 140 shares during the last quarter. Valley National Advisers Inc. lifted its holdings in Edwards Lifesciences by 6.0% during the 1st quarter. Valley National Advisers Inc. now owns 2,677 shares of the medical research company’s stock worth $255,000 after buying an additional 152 shares during the last quarter. Finally, Choreo LLC lifted its holdings in Edwards Lifesciences by 4.1% during the 1st quarter. Choreo LLC now owns 3,840 shares of the medical research company’s stock worth $367,000 after buying an additional 153 shares during the last quarter. Institutional investors and hedge funds own 79.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on EW. Wells Fargo & Company dropped their price target on Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Monday, September 9th. Bank of America lowered Edwards Lifesciences from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $105.00 to $75.00 in a research note on Thursday, July 25th. Barclays dropped their target price on shares of Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Monday, September 9th. Jefferies Financial Group cut Edwards Lifesciences from a “buy” rating to a “hold” rating and cut their price target for the stock from $85.00 to $70.00 in a report on Wednesday, September 18th. Finally, UBS Group decreased their price objective on Edwards Lifesciences from $90.00 to $75.00 and set a “neutral” rating on the stock in a report on Tuesday, September 10th. Seventeen analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $75.77.

Edwards Lifesciences Stock Down 0.8 %

NYSE EW traded down $0.53 on Wednesday, reaching $68.37. The stock had a trading volume of 1,357,757 shares, compared to its average volume of 4,564,555. The company has a current ratio of 3.71, a quick ratio of 2.87 and a debt-to-equity ratio of 0.08. Edwards Lifesciences Co. has a 1 year low of $58.93 and a 1 year high of $96.12. The business has a 50 day moving average price of $67.45 and a 200 day moving average price of $79.60. The company has a market capitalization of $41.20 billion, a price-to-earnings ratio of 29.70, a P/E/G ratio of 2.83 and a beta of 1.13.

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, topping analysts’ consensus estimates of $0.69 by $0.01. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.65 billion. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The firm’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.66 earnings per share. On average, analysts forecast that Edwards Lifesciences Co. will post 2.71 EPS for the current fiscal year.

Insider Buying and Selling at Edwards Lifesciences

In other news, VP Daveen Chopra sold 1,250 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total transaction of $87,437.50. Following the transaction, the vice president now owns 29,333 shares of the company’s stock, valued at approximately $2,051,843.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Edwards Lifesciences news, VP Daveen Chopra sold 1,250 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total transaction of $87,437.50. Following the completion of the transaction, the vice president now owns 29,333 shares of the company’s stock, valued at $2,051,843.35. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $66.77, for a total value of $333,850.00. Following the completion of the transaction, the vice president now directly owns 46,936 shares in the company, valued at approximately $3,133,916.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,250 shares of company stock worth $1,099,238 over the last three months. Corporate insiders own 1.29% of the company’s stock.

Edwards Lifesciences Company 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.