Chevy Chase Trust Holdings LLC Sells 826 Shares of Edwards Lifesciences Corporation (NYSE:EW)

Chevy Chase Trust Holdings LLC cut its stake in Edwards Lifesciences Corporation (NYSE:EW) by 0.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 316,095 shares of the medical research company’s stock after selling 826 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Edwards Lifesciences were worth $22,911,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Crowley Wealth Management Inc. bought a new position in shares of Edwards Lifesciences during the 4th quarter worth approximately $26,000. Vega Investment Solutions purchased a new position in Edwards Lifesciences in the fourth quarter worth $27,000. Millstone Evans Group LLC purchased a new position in Edwards Lifesciences in the fourth quarter worth $29,000. Global X Japan Co. Ltd. increased its position in shares of Edwards Lifesciences by 116.1% during the first quarter. Global X Japan Co. Ltd. now owns 402 shares of the medical research company’s stock worth $29,000 after purchasing an additional 216 shares in the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in shares of Edwards Lifesciences during the first quarter worth $38,000. 79.46% of the stock is owned by institutional investors.

Edwards Lifesciences Trading Up 1.5%

NYSE EW opened at $76.95 on Thursday. Edwards Lifesciences Corporation has a 1 year low of $58.93 and a 1 year high of $95.25. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.45 and a quick ratio of 3.66. The company has a market capitalization of $45.14 billion, a PE ratio of 10.99, a P/E/G ratio of 3.82 and a beta of 1.12. The company has a fifty day moving average of $75.38 and a 200 day moving average of $73.08.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.04. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.40 billion. Edwards Lifesciences had a return on equity of 16.62% and a net margin of 75.48%. The company’s revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the business posted $0.66 EPS. Research analysts forecast that Edwards Lifesciences Corporation will post 2.45 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Larry L. Wood sold 8,950 shares of the stock in a transaction on Monday, June 16th. The shares were sold at an average price of $75.23, for a total transaction of $673,308.50. Following the sale, the insider now directly owns 206,900 shares of the company’s stock, valued at approximately $15,565,087. This represents a 4.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Donald E. Bobo, Jr. sold 9,500 shares of Edwards Lifesciences stock in a transaction on Monday, April 14th. The shares were sold at an average price of $69.81, for a total transaction of $663,195.00. Following the completion of the transaction, the vice president now directly owns 47,206 shares of the company’s stock, valued at $3,295,450.86. The trade was a 16.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 40,648 shares of company stock valued at $2,998,866 over the last ninety days. Company insiders own 1.29% of the company’s stock.

Wall Street Analysts Forecast Growth

EW has been the subject of a number of recent analyst reports. Canaccord Genuity Group raised their price objective on Edwards Lifesciences from $71.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday, April 25th. Truist Financial decreased their price target on Edwards Lifesciences from $78.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, April 11th. Citigroup restated a “buy” rating and set a $95.00 price target (up previously from $84.00) on shares of Edwards Lifesciences in a research note on Thursday, May 22nd. Wall Street Zen downgraded shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a report on Friday, May 16th. Finally, Dbs Bank raised shares of Edwards Lifesciences to a “hold” rating in a research report on Monday, June 2nd. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $80.20.

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.