Lombard Odier Asset Management Switzerland SA cut its holdings in shares of Edwards Lifesciences Corporation (NYSE:EW – Free Report) by 53.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,594 shares of the medical research company’s stock after selling 7,458 shares during the period. Lombard Odier Asset Management Switzerland SA’s holdings in Edwards Lifesciences were worth $528,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the business. MV Capital Management Inc. acquired a new position in Edwards Lifesciences during the 4th quarter worth $26,000. Hanson & Doremus Investment Management purchased a new position in shares of Edwards Lifesciences in the 1st quarter valued at about $25,000. Kemnay Advisory Services Inc. purchased a new position in shares of Edwards Lifesciences in the 4th quarter valued at about $27,000. JPL Wealth Management LLC acquired a new position in shares of Edwards Lifesciences during the third quarter worth about $25,000. Finally, Hilton Head Capital Partners LLC acquired a new position in shares of Edwards Lifesciences during the fourth quarter worth about $28,000. Institutional investors and hedge funds own 79.46% of the company’s stock.
Edwards Lifesciences Trading Up 0.8%
NYSE:EW opened at $83.69 on Wednesday. Edwards Lifesciences Corporation has a 1 year low of $72.30 and a 1 year high of $96.29. The stock has a market cap of $48.19 billion, a P/E ratio of 48.10, a P/E/G ratio of 2.09 and a beta of 0.86. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.63 and a current ratio of 4.42. The stock has a 50-day simple moving average of $87.77 and a 200-day simple moving average of $83.85.
Insider Transactions at Edwards Lifesciences
In other news, SVP Andrew M. Dahl sold 568 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $86.08, for a total transaction of $48,893.44. Following the completion of the sale, the senior vice president owned 15,334 shares in the company, valued at approximately $1,319,950.72. The trade was a 3.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Daniel J. Lippis sold 619 shares of the company’s stock in a transaction on Friday, July 10th. The shares were sold at an average price of $91.70, for a total transaction of $56,762.30. Following the completion of the transaction, the vice president owned 40,034 shares of the company’s stock, valued at approximately $3,671,117.80. The trade was a 1.52% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 45,577 shares of company stock worth $3,855,527. 0.31% of the stock is currently owned by insiders.
Analyst Ratings Changes
A number of research firms recently weighed in on EW. BTIG Research upped their target price on shares of Edwards Lifesciences from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. TD Cowen reiterated a “buy” rating on shares of Edwards Lifesciences in a research note on Tuesday, July 21st. Leerink Partners upgraded shares of Edwards Lifesciences from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $87.00 to $101.00 in a report on Friday, July 24th. Robert W. Baird increased their price objective on shares of Edwards Lifesciences from $85.00 to $87.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Finally, Royal Bank Of Canada raised their price objective on shares of Edwards Lifesciences from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Seventeen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $100.27.
Edwards Lifesciences Profile
Edwards Lifesciences is a medical technology company focused on products and therapies for structural heart disease and critical care monitoring. The company designs, develops and manufactures prosthetic heart valves and related delivery systems used in both surgical and minimally invasive (transcatheter) procedures. Its portfolio addresses a range of valvular conditions, with an emphasis on technologies that enable transcatheter aortic valve replacement (TAVR) as an alternative to open-heart surgery.
In addition to transcatheter heart valves—including the widely recognized SAPIEN family—Edwards offers surgical tissue valves and ancillary devices used by cardiac surgeons, interventional cardiologists and hospital teams.
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