Ethic Inc. Has $4.27 Million Stake in Edwards Lifesciences Corporation $EW

Ethic Inc. trimmed its stake in Edwards Lifesciences Corporation (NYSE:EW) by 2.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,632 shares of the medical research company’s stock after selling 1,536 shares during the period. Ethic Inc.’s holdings in Edwards Lifesciences were worth $4,273,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of EW. Quantbot Technologies LP acquired a new stake in Edwards Lifesciences in the 1st quarter worth $26,000. SouthState Corp acquired a new stake in Edwards Lifesciences in the 1st quarter worth $27,000. Rosenberg Matthew Hamilton acquired a new stake in Edwards Lifesciences in the 2nd quarter worth $28,000. Tradewinds Capital Management LLC grew its position in Edwards Lifesciences by 102.5% in the 1st quarter. Tradewinds Capital Management LLC now owns 405 shares of the medical research company’s stock worth $29,000 after purchasing an additional 205 shares during the last quarter. Finally, Rossby Financial LCC acquired a new stake in Edwards Lifesciences in the 1st quarter worth $29,000. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Larry L. Wood sold 8,950 shares of Edwards Lifesciences stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $78.06, for a total transaction of $698,637.00. Following the completion of the transaction, the insider directly owned 206,900 shares of the company’s stock, valued at $16,150,614. This trade represents a 4.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Daniel J. Lippis sold 4,114 shares of Edwards Lifesciences stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $79.46, for a total transaction of $326,898.44. Following the transaction, the vice president directly owned 22,002 shares of the company’s stock, valued at $1,748,278.92. This represents a 15.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.29% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Mizuho raised their price target on shares of Edwards Lifesciences from $87.00 to $95.00 and gave the stock an “outperform” rating in a research report on Friday, July 25th. JPMorgan Chase & Co. raised their price objective on shares of Edwards Lifesciences from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, July 25th. Oppenheimer downgraded shares of Edwards Lifesciences from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 8th. Wells Fargo & Company raised their price objective on shares of Edwards Lifesciences from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Edwards Lifesciences in a report on Friday, July 25th. Three analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Edwards Lifesciences currently has an average rating of “Moderate Buy” and a consensus target price of $87.06.

Edwards Lifesciences Trading Down 0.3%

Shares of EW stock opened at $76.62 on Friday. Edwards Lifesciences Corporation has a 12-month low of $64.89 and a 12-month high of $83.00. The company has a market capitalization of $44.99 billion, a P/E ratio of 11.02, a P/E/G ratio of 3.69 and a beta of 1.05. The firm has a 50-day moving average price of $77.41 and a 200 day moving average price of $76.30. The company has a quick ratio of 3.87, a current ratio of 4.68 and a debt-to-equity ratio of 0.06.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Thursday, July 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.05. Edwards Lifesciences had a net margin of 72.96% and a return on equity of 15.01%. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the firm posted $0.70 EPS. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. Research analysts forecast that Edwards Lifesciences Corporation will post 2.45 earnings per share for the current fiscal year.

Edwards Lifesciences Company 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.