Victory Capital Management Inc. Has $14.75 Million Stock Position in Edwards Lifesciences Co. (NYSE:EW)

Victory Capital Management Inc. reduced its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 5.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 223,555 shares of the medical research company’s stock after selling 12,393 shares during the period. Victory Capital Management Inc.’s holdings in Edwards Lifesciences were worth $14,752,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Crewe Advisors LLC acquired a new stake in shares of Edwards Lifesciences in the first quarter valued at approximately $28,000. First Community Trust NA acquired a new stake in shares of Edwards Lifesciences in the second quarter valued at approximately $29,000. Webster Bank N. A. bought a new position in shares of Edwards Lifesciences in the second quarter valued at $39,000. Versant Capital Management Inc grew its stake in shares of Edwards Lifesciences by 206.3% in the second quarter. Versant Capital Management Inc now owns 484 shares of the medical research company’s stock valued at $45,000 after buying an additional 326 shares in the last quarter. Finally, HHM Wealth Advisors LLC bought a new position in shares of Edwards Lifesciences in the second quarter valued at $55,000. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EW has been the subject of several analyst reports. Bank of America cut shares of Edwards Lifesciences from a “buy” rating to a “neutral” rating and decreased their target price for the company from $105.00 to $75.00 in a research note on Thursday, July 25th. Robert W. Baird decreased their target price on shares of Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. JPMorgan Chase & Co. raised their target price on shares of Edwards Lifesciences from $72.00 to $78.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Citigroup decreased their target price on shares of Edwards Lifesciences from $83.00 to $77.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. Finally, Sanford C. Bernstein raised shares of Edwards Lifesciences from a “strong sell” rating to a “hold” rating in a research note on Monday, October 28th. Seventeen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $75.67.

Insider Activity

In related news, insider Larry L. Wood sold 25,000 shares of the business’s stock in a transaction dated 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 transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were 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 of the company’s stock, valued at approximately $3,133,916.72. This trade represents a 9.63 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,000 shares of company stock valued at $2,657,000. 1.27% of the stock is owned by company insiders.

Edwards Lifesciences Trading Up 0.4 %

Shares of Edwards Lifesciences stock opened at $70.20 on Wednesday. The firm has a 50-day moving average of $67.59 and a 200-day moving average of $75.91. The stock has a market cap of $41.40 billion, a PE ratio of 10.13, a PEG ratio of 3.81 and a beta of 1.12. Edwards Lifesciences Co. has a 52-week low of $58.93 and a 52-week high of $96.12. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46.

Edwards Lifesciences (NYSE:EW) last announced its earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.67. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. Edwards Lifesciences’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.59 earnings per share. As a group, sell-side analysts forecast that Edwards Lifesciences Co. will post 2.57 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.