Cerity Partners LLC Sells 75,611 Shares of Edwards Lifesciences Co. (NYSE:EW)

Cerity Partners LLC reduced its stake in Edwards Lifesciences Co. (NYSE:EW) by 38.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,822 shares of the medical research company’s stock after selling 75,611 shares during the period. Cerity Partners LLC’s holdings in Edwards Lifesciences were worth $8,105,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. First Community Trust NA purchased a new stake in Edwards Lifesciences in the second quarter worth about $29,000. Prospera Private Wealth LLC purchased a new stake in shares of Edwards Lifesciences in the 3rd quarter worth approximately $32,000. Avior Wealth Management LLC boosted its stake in shares of Edwards Lifesciences by 138.7% during the third quarter. Avior Wealth Management LLC now owns 530 shares of the medical research company’s stock valued at $35,000 after purchasing an additional 308 shares in the last quarter. Webster Bank N. A. purchased a new position in Edwards Lifesciences during the second quarter valued at approximately $39,000. Finally, Peoples Bank KS bought a new position in Edwards Lifesciences in the third quarter worth approximately $40,000. 79.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EW has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price target on Edwards Lifesciences from $72.00 to $78.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Barclays reduced 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. Truist Financial lowered their price target on shares of Edwards Lifesciences from $71.00 to $70.00 and set a “hold” rating on the stock in a report on Friday, October 25th. Evercore ISI reduced their price objective on shares of Edwards Lifesciences from $76.00 to $70.00 and set an “in-line” rating for the company in a research note on Tuesday, October 1st. Finally, 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 report on Tuesday, October 1st. Seventeen analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $75.90.

Insider Activity

In other news, insider Larry L. Wood sold 25,000 shares of the stock in a transaction dated Tuesday, November 5th. The shares were 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 directly owns 198,526 shares in the company, valued at $13,084,848.66. This represents a 11.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $66.77, for a total transaction of $333,850.00. Following the transaction, the vice president now owns 46,936 shares in the company, valued at $3,133,916.72. The trade was a 9.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 40,000 shares of company stock worth $2,657,000 over the last 90 days. 1.27% of the stock is currently owned by company insiders.

Edwards Lifesciences Stock Up 0.7 %

Edwards Lifesciences stock opened at $72.06 on Thursday. Edwards Lifesciences Co. has a 52 week low of $58.93 and a 52 week high of $96.12. The firm has a market cap of $42.50 billion, a price-to-earnings ratio of 10.40, a price-to-earnings-growth ratio of 4.01 and a beta of 1.12. The business’s 50-day moving average price is $67.92 and its 200 day moving average price is $75.35. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06.

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

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.