Sandy Spring Bank Cuts Stock Position in Edwards Lifesciences Co. (NYSE:EW)

Sandy Spring Bank lessened its holdings in Edwards Lifesciences Co. (NYSE:EW) by 10.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,486 shares of the medical research company’s stock after selling 182 shares during the period. Sandy Spring Bank’s holdings in Edwards Lifesciences were worth $110,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. FSA Wealth Management LLC purchased a new stake in Edwards Lifesciences in the 3rd quarter worth $30,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Edwards Lifesciences in the 4th quarter worth $30,000. Prospera Private Wealth LLC purchased a new stake in Edwards Lifesciences in the 3rd quarter worth $32,000. Avior Wealth Management LLC increased its stake in Edwards Lifesciences by 138.7% in the 3rd quarter. Avior Wealth Management LLC now owns 530 shares of the medical research company’s stock worth $35,000 after buying an additional 308 shares in the last quarter. Finally, Roble Belko & Company Inc bought a new position in shares of Edwards Lifesciences during the 4th quarter valued at about $46,000. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on EW shares. Stifel Nicolaus raised shares of Edwards Lifesciences from a “hold” rating to a “buy” rating and increased their price objective for the company from $75.00 to $90.00 in a report on Thursday, January 30th. Canaccord Genuity Group increased their price objective on shares of Edwards Lifesciences from $68.00 to $71.00 and gave the company a “hold” rating in a report on Thursday, February 13th. Wolfe Research downgraded shares of Edwards Lifesciences from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 12th. Bank of America raised shares of Edwards Lifesciences from a “neutral” rating to a “buy” rating and increased their price objective for the company from $82.00 to $90.00 in a report on Monday, December 16th. Finally, Citigroup increased their price objective on shares of Edwards Lifesciences from $81.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $79.95.

Edwards Lifesciences Stock Performance

Shares of NYSE:EW opened at $70.46 on Friday. The firm has a market cap of $41.42 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 4.82 and a beta of 1.12. The firm’s 50 day simple moving average is $71.42 and its 200-day simple moving average is $70.36. Edwards Lifesciences Co. has a one year low of $58.93 and a one 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.

Edwards Lifesciences (NYSE:EW) last issued its earnings results on Tuesday, February 11th. The medical research company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. As a group, equities analysts predict that Edwards Lifesciences Co. will post 2.45 EPS for the current year.

Insider Transactions at Edwards Lifesciences

In related news, VP Donald E. Bobo, Jr. sold 9,500 shares of Edwards Lifesciences stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $67.96, for a total transaction of $645,620.00. Following the transaction, the vice president now directly owns 46,936 shares of the company’s stock, valued at $3,189,770.56. This trade represents a 16.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Daniel J. Lippis sold 400 shares of Edwards Lifesciences stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $69.48, for a total transaction of $27,792.00. Following the transaction, the vice president now directly owns 22,588 shares in the company, valued at approximately $1,569,414.24. The trade was a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,303 shares of company stock valued at $3,715,776. 1.29% of the stock is currently owned by company insiders.

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.