Cresset Asset Management LLC Has $1.31 Million Position in Edwards Lifesciences Co. (NYSE:EW)

Cresset Asset Management LLC lessened its position in Edwards Lifesciences Co. (NYSE:EW) by 63.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 17,730 shares of the medical research company’s stock after selling 30,481 shares during the quarter. Cresset Asset Management LLC’s holdings in Edwards Lifesciences were worth $1,313,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Harbor Capital Advisors Inc. grew its position in shares of Edwards Lifesciences by 2.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 11,135 shares of the medical research company’s stock valued at $824,000 after buying an additional 273 shares during the last quarter. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST grew its position in shares of Edwards Lifesciences by 6.7% in the 4th quarter. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST now owns 4,800,000 shares of the medical research company’s stock valued at $355,344,000 after buying an additional 300,000 shares during the last quarter. Sivik Global Healthcare LLC bought a new stake in shares of Edwards Lifesciences in the 4th quarter valued at about $3,702,000. Avanza Fonder AB bought a new stake in shares of Edwards Lifesciences in the 4th quarter valued at about $4,845,000. Finally, Farmers & Merchants Investments Inc. grew its position in shares of Edwards Lifesciences by 21.1% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 134,341 shares of the medical research company’s stock valued at $9,945,000 after buying an additional 23,409 shares during the last quarter. Institutional investors and hedge funds own 79.46% of the company’s stock.

Edwards Lifesciences Stock Down 1.1%

EW stock opened at $73.82 on Monday. The company has a market cap of $43.40 billion, a P/E ratio of 10.59, a price-to-earnings-growth ratio of 4.82 and a beta of 1.12. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $95.25. The stock’s 50 day simple moving average is $71.48 and its 200 day simple moving average is $71.51. 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 quarterly earnings data on Wednesday, April 23rd. The medical research company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.60 by $0.04. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.40 billion. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.66 earnings per share. On average, research analysts expect that Edwards Lifesciences Co. will post 2.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on EW. Canaccord Genuity Group upped their price target on Edwards Lifesciences from $71.00 to $75.00 and gave the company a “hold” rating in a research report on Friday, April 25th. Wolfe Research downgraded Edwards Lifesciences from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 12th. Truist Financial dropped their price objective on Edwards Lifesciences from $78.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, April 11th. Morgan Stanley boosted their price objective on Edwards Lifesciences from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Finally, Evercore ISI dropped their price objective on Edwards Lifesciences from $75.00 to $73.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $79.45.

Insider Transactions at Edwards Lifesciences

In other news, CFO Scott B. Ullem sold 11,250 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $75.76, for a total value of $852,300.00. Following the completion of the sale, the chief financial officer now directly owns 30,561 shares of the company’s stock, valued at $2,315,301.36. This represents a 26.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Daniel J. Lippis sold 400 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $69.48, for a total value of $27,792.00. Following the completion of the sale, the vice president now directly owns 22,588 shares of the company’s stock, valued at approximately $1,569,414.24. This trade represents a 1.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,681 shares of company stock valued at $6,492,703 over the last ninety days. 1.29% of the stock is currently owned by 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.