PFM Health Sciences LP Reduces Position in Edwards Lifesciences Co. (NYSE:EW)

PFM Health Sciences LP lessened its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 47.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 390,863 shares of the medical research company’s stock after selling 349,397 shares during the period. Edwards Lifesciences makes up about 1.5% of PFM Health Sciences LP’s portfolio, making the stock its 25th biggest position. PFM Health Sciences LP owned approximately 0.07% of Edwards Lifesciences worth $25,793,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Edwards Lifesciences by 56.7% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 82,974 shares of the medical research company’s stock valued at $5,475,000 after acquiring an additional 30,038 shares during the last quarter. Vestal Point Capital LP purchased a new stake in shares of Edwards Lifesciences in the 3rd quarter valued at $18,147,000. Public Sector Pension Investment Board boosted its holdings in shares of Edwards Lifesciences by 12.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 26,167 shares of the medical research company’s stock valued at $1,727,000 after acquiring an additional 2,900 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Edwards Lifesciences by 1.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,005,789 shares of the medical research company’s stock valued at $396,322,000 after acquiring an additional 61,275 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Edwards Lifesciences by 9.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 478,418 shares of the medical research company’s stock valued at $31,571,000 after acquiring an additional 40,348 shares during the last quarter. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Insiders Place Their Bets

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $69.51, for a total value of $347,550.00. Following the transaction, the vice president now directly owns 46,936 shares in the company, valued at $3,262,521.36. This trade represents a 9.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Larry L. Wood sold 25,000 shares of Edwards Lifesciences stock in a transaction on 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 approximately $13,084,848.66. This trade represents a 11.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,000 shares of company stock valued at $2,657,000. 1.29% of the stock is owned by corporate insiders.

Edwards Lifesciences Stock Down 1.0 %

Shares of EW opened at $71.37 on Friday. The stock has a market capitalization of $42.09 billion, a PE ratio of 10.30, a P/E/G ratio of 4.05 and a beta of 1.12. Edwards Lifesciences Co. has a 1 year low of $58.93 and a 1 year high of $96.12. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46. The company’s 50-day simple moving average is $68.10 and its 200-day simple moving average is $75.23.

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

Analysts Set New Price Targets

Several research firms recently issued reports on EW. Morgan Stanley reiterated an “equal weight” rating and issued a $70.00 target price on shares of Edwards Lifesciences in a research note on Friday, October 11th. Jefferies Financial Group cut shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and decreased their target price for the company from $85.00 to $70.00 in a research note on Wednesday, September 18th. JPMorgan Chase & Co. upped their price objective on shares of Edwards Lifesciences from $72.00 to $78.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Oppenheimer restated an “outperform” rating and set a $90.00 price objective on shares of Edwards Lifesciences in a research report on Thursday, September 12th. Finally, Wells Fargo & Company reduced their price objective on shares of Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday, September 9th. Seventeen analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $76.85.

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.