Tobam Cuts Stock Position in Edwards Lifesciences Co. (NYSE:EW)

Tobam lowered its position in shares of Edwards Lifesciences Co. (NYSE:EW) by 21.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 59,294 shares of the medical research company’s stock after selling 16,353 shares during the period. Edwards Lifesciences accounts for 1.4% of Tobam’s holdings, making the stock its 24th biggest holding. Tobam’s holdings in Edwards Lifesciences were worth $4,390,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in EW. Czech National Bank increased its position in Edwards Lifesciences by 6.9% during the 3rd quarter. Czech National Bank now owns 122,715 shares of the medical research company’s stock worth $8,098,000 after purchasing an additional 7,883 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Edwards Lifesciences by 21.6% in the 3rd quarter. GAMMA Investing LLC now owns 4,105 shares of the medical research company’s stock valued at $271,000 after buying an additional 730 shares during the period. Alpha Financial Partners LLC purchased a new stake in shares of Edwards Lifesciences in the third quarter valued at approximately $693,000. BSN CAPITAL PARTNERS Ltd acquired a new position in Edwards Lifesciences during the third quarter worth $11,746,000. Finally, Capital Insight Partners LLC raised its position in Edwards Lifesciences by 7.7% in the third quarter. Capital Insight Partners LLC now owns 60,328 shares of the medical research company’s stock worth $3,981,000 after acquiring an additional 4,290 shares in the last quarter. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Analyst Ratings Changes

EW has been the topic of a number of recent analyst reports. Piper Sandler lowered their price target on shares of Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Citigroup upped their target price on shares of Edwards Lifesciences from $81.00 to $83.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Truist Financial reiterated a “hold” rating and set a $78.00 price target (up from $70.00) on shares of Edwards Lifesciences in a research report on Thursday, December 5th. Robert W. Baird lowered their price target on Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. raised their price objective on Edwards Lifesciences from $72.00 to $78.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. 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. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $79.19.

Edwards Lifesciences Stock Down 1.6 %

EW stock opened at $70.96 on Friday. The company has a 50 day moving average price of $72.49 and a two-hundred day moving average price of $69.54. 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 market capitalization of $41.85 billion, a P/E ratio of 10.24, a PEG ratio of 3.72 and a beta of 1.11. Edwards Lifesciences Co. has a one year low of $58.93 and a one year high of $96.12.

Insider Activity

In related news, VP Daniel J. Lippis sold 500 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $68.76, for a total value of $34,380.00. Following the completion of the sale, the vice president now directly owns 23,189 shares in the company, valued at approximately $1,594,475.64. The trade was a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $65.57, for a total transaction of $327,850.00. Following the completion of the transaction, the vice president now owns 46,936 shares in the company, valued at approximately $3,077,593.52. This trade represents a 9.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,000 shares of company stock valued at $547,430 over the last quarter. Company insiders own 1.27% of the company’s stock.

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.