Apollon Wealth Management LLC Trims Stock Holdings in Edwards Lifesciences Co. (NYSE:EW)

Apollon Wealth Management LLC reduced its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 33.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,458 shares of the medical research company’s stock after selling 4,283 shares during the quarter. Apollon Wealth Management LLC’s holdings in Edwards Lifesciences were worth $558,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of EW. Versor Investments LP lifted its holdings in Edwards Lifesciences by 102.5% during the 3rd quarter. Versor Investments LP now owns 4,455 shares of the medical research company’s stock worth $294,000 after purchasing an additional 2,255 shares in the last quarter. Addison Advisors LLC increased its position in shares of Edwards Lifesciences by 915.1% during the third quarter. Addison Advisors LLC now owns 18,038 shares of the medical research company’s stock valued at $1,190,000 after buying an additional 16,261 shares during the period. Patten & Patten Inc. TN boosted its position in shares of Edwards Lifesciences by 7.5% in the third quarter. Patten & Patten Inc. TN now owns 164,904 shares of the medical research company’s stock valued at $10,882,000 after acquiring an additional 11,512 shares during the period. Kennebec Savings Bank bought a new position in shares of Edwards Lifesciences in the third quarter valued at approximately $79,000. Finally, State of New Jersey Common Pension Fund D increased its holdings in Edwards Lifesciences by 3.1% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 226,465 shares of the medical research company’s stock worth $14,944,000 after acquiring an additional 6,723 shares during the period. 79.46% of the stock is owned by institutional investors.

Edwards Lifesciences Trading Up 2.4 %

NYSE EW opened at $67.76 on Friday. The stock has a market cap of $39.96 billion, a P/E ratio of 9.78, a price-to-earnings-growth ratio of 3.74 and a beta of 1.12. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $96.12. The stock has a 50 day simple moving average of $67.44 and a two-hundred day simple moving average of $76.24. 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 quarterly earnings results on Thursday, October 24th. The medical research company reported $0.67 EPS for the quarter, hitting analysts’ consensus estimates of $0.67. The company 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%. The firm’s revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.59 earnings per share. On average, analysts forecast that Edwards Lifesciences Co. will post 2.57 earnings per share for the current year.

Insider Buying and Selling

In related 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 transaction, the insider now directly owns 198,526 shares in the company, valued at $13,084,848.66. This trade represents a 11.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $65.57, for a total transaction of $327,850.00. Following the sale, the vice president now directly owns 46,936 shares in the company, valued at $3,077,593.52. The trade was a 9.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,250 shares of company stock valued at $2,744,438 over the last three months. Corporate insiders own 1.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on EW. Bank of America lowered shares of Edwards Lifesciences from a “buy” rating to a “neutral” rating and reduced their price target for the company from $105.00 to $75.00 in a research report on Thursday, July 25th. Sanford C. Bernstein upgraded Edwards Lifesciences from a “strong sell” rating to a “hold” rating in a research note on Monday, October 28th. UBS Group dropped their price target on Edwards Lifesciences from $90.00 to $75.00 and set a “neutral” rating for the company in a research report on Tuesday, September 10th. Stifel Nicolaus decreased their price objective on shares of Edwards Lifesciences from $85.00 to $70.00 and set a “hold” rating on the stock in a research report on Thursday, July 25th. Finally, Robert W. Baird dropped 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 report on Friday, October 25th. Seventeen analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $75.67.

About Edwards Lifesciences

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.