Fifth Third Wealth Advisors LLC Cuts Stock Holdings in Edwards Lifesciences Co. (NYSE:EW)

Fifth Third Wealth Advisors LLC cut its position in shares of Edwards Lifesciences Co. (NYSE:EW) by 8.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,306 shares of the medical research company’s stock after selling 493 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Edwards Lifesciences were worth $350,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EW. Price T Rowe Associates Inc. MD raised its position in Edwards Lifesciences by 57.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,516,260 shares of the medical research company’s stock worth $622,695,000 after acquiring an additional 2,390,137 shares during the period. Swedbank AB acquired a new position in shares of Edwards Lifesciences during the 1st quarter worth about $124,511,000. Bank of New York Mellon Corp lifted its stake in Edwards Lifesciences by 4.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 19,782,909 shares of the medical research company’s stock valued at $1,827,347,000 after buying an additional 809,605 shares in the last quarter. AustralianSuper Pty Ltd boosted its holdings in Edwards Lifesciences by 17.8% in the 3rd quarter. AustralianSuper Pty Ltd now owns 3,273,416 shares of the medical research company’s stock worth $216,013,000 after buying an additional 494,604 shares during the last quarter. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund increased its stake in Edwards Lifesciences by 422.3% during the 3rd quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 450,233 shares of the medical research company’s stock worth $29,711,000 after buying an additional 364,030 shares in the last quarter. Institutional investors and hedge funds own 79.46% of the company’s stock.

Insider Transactions at Edwards Lifesciences

In related news, insider Larry L. Wood sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $65.91, for a total value of $1,647,750.00. Following the completion of the transaction, the insider now directly owns 198,526 shares of the company’s stock, valued at $13,084,848.66. This represents a 11.18 % 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 Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $69.51, for a total transaction of $347,550.00. Following the completion of the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,262,521.36. This trade represents a 9.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 40,000 shares of company stock valued at $2,657,000. Insiders own 1.29% of the company’s stock.

Edwards Lifesciences Trading Up 1.5 %

EW opened at $70.56 on Friday. The business has a fifty day moving average price of $67.66 and a 200 day moving average price of $75.83. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89. Edwards Lifesciences Co. has a 12 month low of $58.93 and a 12 month high of $96.12. The stock has a market capitalization of $41.61 billion, a price-to-earnings ratio of 10.18, a PEG ratio of 3.95 and a beta of 1.12.

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

Analyst Ratings Changes

Several analysts recently commented on the company. Wells Fargo & Company dropped their price target on Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday, September 9th. Piper Sandler dropped their target price on Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Daiwa America lowered Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. Morgan Stanley reissued an “equal weight” rating and issued a $70.00 price objective on shares of Edwards Lifesciences in a report on Friday, October 11th. Finally, TD Cowen downgraded shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and reduced their target price for the stock from $100.00 to $70.00 in a research note on Thursday, July 25th. Seventeen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Edwards Lifesciences has a consensus rating of “Hold” and a consensus price target of $75.67.

About Edwards Lifesciences

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.