Weaver Capital Management LLC Has $338,000 Stake in Edwards Lifesciences Co. (NYSE:EW)

Weaver Capital Management LLC reduced its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 51.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 5,128 shares of the medical research company’s stock after selling 5,525 shares during the quarter. Weaver Capital Management LLC’s holdings in Edwards Lifesciences were worth $338,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its stake in Edwards Lifesciences by 57.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,516,260 shares of the medical research company’s stock valued at $622,695,000 after purchasing an additional 2,390,137 shares in the last quarter. CCLA Investment Management lifted its holdings in shares of Edwards Lifesciences by 100,739.7% during the 1st quarter. CCLA Investment Management now owns 1,406,714 shares of the medical research company’s stock valued at $134,092,000 after buying an additional 1,405,319 shares during the last quarter. Swedbank AB bought a new stake in shares of Edwards Lifesciences in the 1st quarter valued at approximately $124,511,000. Sei Investments Co. increased its holdings in Edwards Lifesciences by 162.7% in the first quarter. Sei Investments Co. now owns 1,465,719 shares of the medical research company’s stock worth $140,064,000 after buying an additional 907,688 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Edwards Lifesciences by 4.3% during the second quarter. Bank of New York Mellon Corp now owns 19,782,909 shares of the medical research company’s stock valued at $1,827,347,000 after acquiring an additional 809,605 shares in the last quarter. 79.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Daveen Chopra sold 1,250 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total value of $87,437.50. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $66.77, for a total transaction of $333,850.00. Following the completion of the transaction, the vice president now directly owns 46,936 shares in the company, valued at $3,133,916.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 sale, the vice president now owns 29,333 shares in the company, valued at $2,051,843.35. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,250 shares of company stock worth $1,099,238. 1.29% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Canaccord Genuity Group dropped their price target on shares of Edwards Lifesciences from $77.00 to $66.00 and set a “hold” rating on the stock in a research note on Monday, October 7th. Truist Financial lowered their target price on shares of Edwards Lifesciences from $82.00 to $71.00 and set a “hold” rating on the stock in a research report on Friday, September 13th. Royal Bank of Canada reduced their price target on Edwards Lifesciences from $85.00 to $75.00 and set an “outperform” rating for the company in a research report on Tuesday, October 8th. Baird R W lowered Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 25th. Finally, Piper Sandler reduced their target price on Edwards Lifesciences from $88.00 to $73.00 and set a “neutral” rating for the company in a report on Thursday, July 25th. Fifteen research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $75.81.

Edwards Lifesciences Trading Up 2.0 %

Edwards Lifesciences stock opened at $70.63 on Thursday. Edwards Lifesciences Co. has a 12 month low of $58.93 and a 12 month high of $96.12. The stock has a market cap of $42.56 billion, a price-to-earnings ratio of 30.44, a price-to-earnings-growth ratio of 2.83 and a beta of 1.13. The business has a 50 day moving average price of $68.04 and a two-hundred day moving average price of $78.71. 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 (NYSE:EW) last issued its earnings results on Wednesday, July 24th. The medical research company reported $0.70 EPS for the quarter, topping 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 firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same period last year, the business earned $0.66 earnings per share. Edwards Lifesciences’s quarterly revenue was up 6.7% compared to the same quarter last year. As a group, equities analysts forecast that Edwards Lifesciences Co. will post 2.71 EPS for the current 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.