Beacon Investment Advisory Services Inc. Trims Holdings in Edwards Lifesciences Co. (NYSE:EW)

Beacon Investment Advisory Services Inc. lowered its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 25.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 50,178 shares of the medical research company’s stock after selling 17,347 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Edwards Lifesciences were worth $3,311,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of EW. First Community Trust NA acquired a new stake in Edwards Lifesciences during the second quarter worth $29,000. Webster Bank N. A. acquired a new stake in shares of Edwards Lifesciences in the second quarter valued at $39,000. FSA Wealth Management LLC purchased a new position in Edwards Lifesciences during the 3rd quarter valued at about $30,000. Versant Capital Management Inc grew its position in Edwards Lifesciences by 206.3% in the 2nd quarter. Versant Capital Management Inc now owns 484 shares of the medical research company’s stock valued at $45,000 after acquiring an additional 326 shares in the last quarter. Finally, Prospera Private Wealth LLC acquired a new stake in shares of Edwards Lifesciences during the third quarter worth about $32,000. 79.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Larry L. Wood sold 25,000 shares of Edwards Lifesciences stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $65.91, for a total value of $1,647,750.00. Following the completion of the sale, the insider now owns 198,526 shares of the company’s stock, valued at $13,084,848.66. The trade was a 11.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $69.51, for a total value of $347,550.00. Following the completion of the sale, the vice president now directly owns 46,936 shares in the company, valued at approximately $3,262,521.36. The trade was a 9.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,000 shares of company stock worth $2,657,000. 1.29% of the stock is owned by corporate insiders.

Edwards Lifesciences Trading Down 1.0 %

Shares of EW opened at $71.35 on Monday. The firm’s 50-day moving average is $68.10 and its two-hundred day moving average is $75.05. Edwards Lifesciences Co. has a twelve month low of $58.93 and a twelve month high of $96.12. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $42.08 billion, a P/E ratio of 10.30, a PEG ratio of 4.01 and a beta of 1.12.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.67. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the prior year, the firm earned $0.59 earnings per share. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, research analysts predict that Edwards Lifesciences Co. will post 2.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

EW has been the topic of several analyst reports. Piper Sandler reduced their price objective on Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Robert W. Baird dropped their price objective on shares of Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. UBS Group dropped their target price on Edwards Lifesciences from $90.00 to $75.00 and set a “neutral” rating on the stock in a report on Tuesday, September 10th. Morgan Stanley reaffirmed an “equal weight” rating and set a $70.00 price target on shares of Edwards Lifesciences in a report on Friday, October 11th. Finally, Royal Bank of Canada increased their price target on shares of Edwards Lifesciences from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Seventeen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $76.85.

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.