Rockefeller Capital Management L.P. Cuts Stock Holdings in Edwards Lifesciences Co. (NYSE:EW)

Rockefeller Capital Management L.P. lowered its position in Edwards Lifesciences Co. (NYSE:EW) by 81.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,465 shares of the medical research company’s stock after selling 174,262 shares during the period. Rockefeller Capital Management L.P.’s holdings in Edwards Lifesciences were worth $3,005,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Crowley Wealth Management Inc. bought a new stake in shares of Edwards Lifesciences during the 4th quarter worth $26,000. Millstone Evans Group LLC purchased a new stake in Edwards Lifesciences during the fourth quarter worth about $29,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Edwards Lifesciences in the fourth quarter worth about $30,000. Roble Belko & Company Inc purchased a new position in Edwards Lifesciences in the fourth quarter valued at about $46,000. Finally, Catalyst Capital Advisors LLC purchased a new position in Edwards Lifesciences in the fourth quarter valued at about $54,000. 79.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Barclays lifted their price target on shares of Edwards Lifesciences from $88.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Canaccord Genuity Group upped their price target on Edwards Lifesciences from $68.00 to $71.00 and gave the company a “hold” rating in a research report on Thursday, February 13th. Truist Financial decreased their price objective on Edwards Lifesciences from $78.00 to $75.00 and set a “hold” rating for the company in a report on Friday, April 11th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $85.00 price objective on shares of Edwards Lifesciences in a report on Wednesday, February 12th. Finally, Piper Sandler lifted their target price on shares of Edwards Lifesciences from $70.00 to $73.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $78.55.

Insider Activity

In related news, CEO Bernard J. Zovighian sold 6,164 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $69.51, for a total transaction of $428,459.64. Following the transaction, the chief executive officer now owns 59,083 shares of the company’s stock, valued at approximately $4,106,859.33. This trade represents a 9.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Scott B. Ullem sold 11,250 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $75.76, for a total transaction of $852,300.00. Following the sale, the chief financial officer now owns 30,561 shares of the company’s stock, valued at approximately $2,315,301.36. The trade was a 26.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,853 shares of company stock worth $5,163,062. 1.29% of the stock is currently owned by insiders.

Edwards Lifesciences Trading Up 0.5 %

Shares of Edwards Lifesciences stock opened at $71.56 on Friday. The company has a 50 day simple moving average of $71.31 and a two-hundred day simple moving average of $70.85. The firm has a market cap of $42.07 billion, a PE ratio of 10.27, a PEG ratio of 4.82 and a beta of 1.15. Edwards Lifesciences Co. has a 1 year low of $58.93 and a 1 year high of $95.25. 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 (NYSE:EW) last announced its earnings results on Tuesday, February 11th. The medical research company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.04. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. Analysts expect that Edwards Lifesciences Co. will post 2.45 earnings per share for the current fiscal year.

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.