Oppenheimer Asset Management Inc. Sells 9,179 Shares of Edwards Lifesciences Co. (NYSE:EW)

Oppenheimer Asset Management Inc. trimmed its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 41.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,804 shares of the medical research company’s stock after selling 9,179 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Edwards Lifesciences were worth $845,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Saturna Capital Corp boosted its stake in shares of Edwards Lifesciences by 7.1% in the 3rd quarter. Saturna Capital Corp now owns 24,534 shares of the medical research company’s stock valued at $1,619,000 after purchasing an additional 1,618 shares during the last quarter. MQS Management LLC bought a new stake in shares of Edwards Lifesciences in the 3rd quarter valued at $245,000. Empower Advisory Group LLC boosted its stake in shares of Edwards Lifesciences by 25.8% in the 3rd quarter. Empower Advisory Group LLC now owns 705,878 shares of the medical research company’s stock valued at $46,581,000 after purchasing an additional 144,857 shares during the last quarter. Future Fund LLC boosted its stake in shares of Edwards Lifesciences by 37.8% in the 3rd quarter. Future Fund LLC now owns 15,898 shares of the medical research company’s stock valued at $1,074,000 after purchasing an additional 4,363 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new stake in shares of Edwards Lifesciences in the 3rd quarter valued at $481,000. 79.46% of the stock is owned by institutional investors.

Edwards Lifesciences Stock Performance

Shares of EW stock opened at $69.89 on Tuesday. The firm has a 50-day moving average of $67.53 and a 200-day moving average of $76.02. The company has a market cap of $41.22 billion, a P/E ratio of 10.09, a P/E/G ratio of 3.81 and a beta of 1.12. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89. Edwards Lifesciences Co. has a one year low of $58.93 and a one year high of $96.12.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data on Thursday, October 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.67. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter last year, the company posted $0.59 earnings per share. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. Equities research analysts forecast that Edwards Lifesciences Co. will post 2.57 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on EW. Truist Financial reduced their price objective on shares of Edwards Lifesciences from $71.00 to $70.00 and set a “hold” rating on the stock in a research note on Friday, October 25th. Citigroup cut their target price on shares of Edwards Lifesciences from $83.00 to $77.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. Jefferies Financial Group lowered shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and cut their target price for the stock from $85.00 to $70.00 in a research note on Wednesday, September 18th. Robert W. Baird cut their target price on shares of Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Finally, TD Cowen lowered shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and cut their target price for the stock from $100.00 to $70.00 in a research note on Thursday, July 25th. Seventeen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $75.67.

Insider Buying and Selling

In other Edwards Lifesciences 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 transaction of $1,647,750.00. Following the completion of the transaction, the insider now owns 198,526 shares in the company, valued at $13,084,848.66. This trade represents a 11.18 % decrease in their ownership of the stock. The sale 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 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 transaction, the vice president now owns 46,936 shares of the company’s stock, valued at $3,077,593.52. This 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 worth $2,657,000. Insiders own 1.29% of the company’s stock.

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.