Chevy Chase Trust Holdings LLC Sells 3,462 Shares of Edwards Lifesciences Co. (NYSE:EW)

Chevy Chase Trust Holdings LLC reduced its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 1.0% during the third quarter, Holdings Channel reports. The fund owned 330,393 shares of the medical research company’s stock after selling 3,462 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Edwards Lifesciences were worth $21,803,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. BDF Gestion bought a new stake in shares of Edwards Lifesciences during the 2nd quarter valued at about $5,148,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Edwards Lifesciences by 9.2% during 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 in the last quarter. Raymond James & Associates grew its holdings in shares of Edwards Lifesciences by 2.8% during the 2nd quarter. Raymond James & Associates now owns 1,825,230 shares of the medical research company’s stock worth $168,597,000 after acquiring an additional 50,124 shares during the period. AIA Group Ltd raised its position in shares of Edwards Lifesciences by 91.7% in the 3rd quarter. AIA Group Ltd now owns 749,524 shares of the medical research company’s stock worth $49,461,000 after acquiring an additional 358,556 shares in the last quarter. Finally, RiverPark Advisors LLC lifted its stake in shares of Edwards Lifesciences by 58.1% in the 3rd quarter. RiverPark Advisors LLC now owns 20,639 shares of the medical research company’s stock valued at $1,362,000 after purchasing an additional 7,583 shares during the period. 79.46% of the stock is owned by hedge funds and other institutional investors.

Edwards Lifesciences Stock Down 0.5 %

Shares of NYSE:EW opened at $70.19 on Wednesday. The company has a market capitalization of $41.40 billion, a price-to-earnings ratio of 10.13, a PEG ratio of 3.97 and a beta of 1.12. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $96.12. The business has a 50-day moving average price of $68.24 and a 200 day moving average price of $74.78. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06.

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

Insider Buying and Selling

In other news, insider Larry L. Wood sold 25,000 shares of Edwards Lifesciences stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $65.91, for a total transaction of $1,647,750.00. Following the sale, the insider now owns 198,526 shares in the company, valued at approximately $13,084,848.66. The trade was a 11.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the vice president now owns 46,936 shares of the company’s stock, valued at approximately $3,262,521.36. This represents a 9.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,000 shares of company stock valued at $2,657,000 in the last three months. 1.27% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on EW. Royal Bank of Canada upped their target price on shares of Edwards Lifesciences from $75.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Jefferies Financial Group lowered shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and lowered their target price for the company from $85.00 to $70.00 in a report on Wednesday, September 18th. Daiwa America downgraded Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Truist Financial lowered their price objective on Edwards Lifesciences from $71.00 to $70.00 and set a “hold” rating for the company in a research note on Friday, October 25th. Finally, Wells Fargo & Company cut their target price on Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Monday, September 9th. Seventeen investment 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 currently has an average rating of “Hold” and a consensus target price of $77.25.

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.