Ascent Group LLC Has $390,000 Stock Holdings in Edwards Lifesciences Co. (NYSE:EW)

Ascent Group LLC decreased its holdings in Edwards Lifesciences Co. (NYSE:EW) by 29.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 4,083 shares of the medical research company’s stock after selling 1,745 shares during the period. Ascent Group LLC’s holdings in Edwards Lifesciences were worth $390,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of EW. DSM Capital Partners LLC bought a new position in shares of Edwards Lifesciences in the 4th quarter valued at $28,000. Crewe Advisors LLC bought a new position in Edwards Lifesciences in the first quarter valued at about $28,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Edwards Lifesciences during the fourth quarter valued at about $34,000. Riverview Trust Co bought a new stake in shares of Edwards Lifesciences during the first quarter worth about $34,000. Finally, Pingora Partners LLC acquired a new position in shares of Edwards Lifesciences in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 79.46% of the company’s stock.

Edwards Lifesciences Stock Up 2.2 %

EW stock traded up $1.37 during trading on Monday, reaching $63.74. 9,883,939 shares of the stock were exchanged, compared to its average volume of 3,813,933. The firm’s 50 day moving average is $87.98 and its 200 day moving average is $86.99. The firm has a market cap of $38.41 billion, a P/E ratio of 27.54, a price-to-earnings-growth ratio of 2.33 and a beta of 1.11. The company has a current ratio of 3.71, a quick ratio of 2.87 and a debt-to-equity ratio of 0.08. Edwards Lifesciences Co. has a twelve month low of $58.93 and a twelve month high of $96.12.

Edwards Lifesciences (NYSE:EW) last issued its earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the firm earned $0.66 earnings per share. Edwards Lifesciences’s revenue for the quarter was up 6.7% on a year-over-year basis. As a group, research analysts forecast that Edwards Lifesciences Co. will post 2.71 EPS for the current year.

Insider Buying and Selling at Edwards Lifesciences

In other news, VP Jean-Luc M. Lemercier sold 14,400 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $84.21, for a total transaction of $1,212,624.00. Following the completion of the sale, the vice president now directly owns 173,849 shares of the company’s stock, valued at $14,639,824.29. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, VP Jean-Luc M. Lemercier sold 14,400 shares of Edwards Lifesciences stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $84.21, for a total transaction of $1,212,624.00. Following the transaction, the vice president now owns 173,849 shares of the company’s stock, valued at $14,639,824.29. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael A. Mussallem sold 29,350 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $84.77, for a total value of $2,487,999.50. Following the sale, the director now owns 4,486 shares of the company’s stock, valued at approximately $380,278.22. The disclosure for this sale can be found here. Over the last three months, insiders have sold 81,099 shares of company stock valued at $7,003,553. Corporate insiders own 1.29% of the company’s stock.

Wall Street Analysts Forecast Growth

EW has been the topic of several recent research reports. The Goldman Sachs Group cut their target price on shares of Edwards Lifesciences from $107.00 to $91.00 and set a “buy” rating on the stock in a research report on Friday. Robert W. Baird cut shares of Edwards Lifesciences from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $102.00 to $70.00 in a research note on Thursday. Piper Sandler lowered their target price on Edwards Lifesciences from $88.00 to $73.00 and set a “neutral” rating for the company in a research report on Thursday. JPMorgan Chase & Co. downgraded Edwards Lifesciences from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $105.00 to $72.00 in a report on Thursday. Finally, Wolfe Research raised Edwards Lifesciences from an “underperform” rating to a “peer perform” rating in a research note on Monday. Fourteen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $82.10.

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.