Peterson Wealth Services Reduces Stock Holdings in Edwards Lifesciences Corporation $EW

Peterson Wealth Services reduced its stake in shares of Edwards Lifesciences Corporation (NYSE:EW) by 39.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,947 shares of the medical research company’s stock after selling 1,947 shares during the quarter. Peterson Wealth Services’ holdings in Edwards Lifesciences were worth $230,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC purchased a new stake in shares of Edwards Lifesciences during the fourth quarter worth approximately $266,000. Oppenheimer Asset Management Inc. raised its position in Edwards Lifesciences by 23.5% in the first quarter. Oppenheimer Asset Management Inc. now owns 21,699 shares of the medical research company’s stock valued at $1,573,000 after purchasing an additional 4,125 shares during the period. Golden State Wealth Management LLC lifted its position in Edwards Lifesciences by 125.0% in the first quarter. Golden State Wealth Management LLC now owns 5,135 shares of the medical research company’s stock valued at $372,000 after buying an additional 2,853 shares during the last quarter. Perigon Wealth Management LLC boosted its position in shares of Edwards Lifesciences by 6.9% during the 1st quarter. Perigon Wealth Management LLC now owns 4,325 shares of the medical research company’s stock worth $313,000 after purchasing an additional 278 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of Edwards Lifesciences by 172.9% during the first quarter. Robeco Institutional Asset Management B.V. now owns 748,903 shares of the medical research company’s stock worth $54,280,000 after buying an additional 474,492 shares during the period. 79.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Larry L. Wood sold 8,950 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $78.06, for a total transaction of $698,637.00. Following the sale, the insider owned 206,900 shares of the company’s stock, valued at $16,150,614. The trade was a 4.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Daniel J. Lippis sold 4,114 shares of the firm’s stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $79.46, for a total value of $326,898.44. Following the transaction, the vice president directly owned 22,002 shares of the company’s stock, valued at $1,748,278.92. This represents a 15.75% decrease in their position. The disclosure for this sale can be found here. 1.29% of the stock is currently owned by insiders.

Edwards Lifesciences Stock Performance

NYSE EW opened at $76.15 on Friday. The company has a market capitalization of $44.70 billion, a PE ratio of 10.96, a price-to-earnings-growth ratio of 3.67 and a beta of 1.05. The business’s 50-day moving average price is $77.37 and its 200 day moving average price is $76.37. Edwards Lifesciences Corporation has a twelve month low of $64.89 and a twelve month high of $83.00. The company has a current ratio of 4.68, a quick ratio of 3.87 and a debt-to-equity ratio of 0.06.

Edwards Lifesciences (NYSE:EW) last issued its earnings results on Thursday, July 24th. The medical research company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.05. Edwards Lifesciences had a net margin of 72.96% and a return on equity of 15.01%. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter last year, the firm posted $0.70 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, research analysts predict that Edwards Lifesciences Corporation will post 2.45 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Wells Fargo & Company upped their price objective on Edwards Lifesciences from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Argus raised shares of Edwards Lifesciences to a “strong-buy” rating in a research report on Thursday, July 10th. Truist Financial lifted their price target on Edwards Lifesciences from $81.00 to $82.00 and gave the stock a “hold” rating in a research report on Friday, July 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Edwards Lifesciences in a report on Friday. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Edwards Lifesciences in a research report on Friday, July 25th. Three research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Edwards Lifesciences presently has an average rating of “Moderate Buy” and a consensus target price of $87.06.

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.