Edwards Lifesciences Co. (NYSE:EW) is Montag & Caldwell LLC’s 9th Largest Position

Montag & Caldwell LLC lessened its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 20.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 184,550 shares of the medical research company’s stock after selling 46,850 shares during the period. Edwards Lifesciences makes up about 3.4% of Montag & Caldwell LLC’s portfolio, making the stock its 9th biggest position. Montag & Caldwell LLC’s holdings in Edwards Lifesciences were worth $17,047,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. 9258 Wealth Management LLC raised its stake in shares of Edwards Lifesciences by 24.8% in the fourth quarter. 9258 Wealth Management LLC now owns 10,529 shares of the medical research company’s stock worth $803,000 after purchasing an additional 2,093 shares during the last quarter. Gryphon Financial Partners LLC lifted its stake in Edwards Lifesciences by 35.7% during the 4th quarter. Gryphon Financial Partners LLC now owns 6,454 shares of the medical research company’s stock valued at $492,000 after acquiring an additional 1,698 shares during the period. Dimensional Fund Advisors LP lifted its stake in Edwards Lifesciences by 5.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,172,836 shares of the medical research company’s stock valued at $89,433,000 after acquiring an additional 58,442 shares during the period. Janney Montgomery Scott LLC boosted its holdings in shares of Edwards Lifesciences by 2.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 76,614 shares of the medical research company’s stock valued at $5,842,000 after acquiring an additional 2,126 shares during the last quarter. Finally, Great Lakes Advisors LLC increased its stake in shares of Edwards Lifesciences by 4.5% in the fourth quarter. Great Lakes Advisors LLC now owns 14,150 shares of the medical research company’s stock worth $1,079,000 after acquiring an additional 611 shares during the period. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Stock Up 0.6 %

Shares of EW opened at $68.52 on Monday. The company has a current ratio of 3.71, a quick ratio of 2.87 and a debt-to-equity ratio of 0.08. The firm has a market cap of $41.28 billion, a P/E ratio of 29.53, a price-to-earnings-growth ratio of 2.85 and a beta of 1.13. The company’s 50-day moving average price is $72.39 and its 200 day moving average price is $83.45. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $96.12.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Wednesday, July 24th. The medical research company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the business posted $0.66 earnings per share. The company’s quarterly revenue was up 6.7% on a year-over-year basis. On average, sell-side analysts forecast that Edwards Lifesciences Co. will post 2.7 earnings per share for the current year.

Insiders Place Their Bets

In related news, VP Daveen Chopra sold 1,250 shares of Edwards Lifesciences stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total value of $87,437.50. Following the completion of the transaction, the vice president now owns 29,333 shares in the company, valued at $2,051,843.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $66.77, for a total transaction of $333,850.00. Following the sale, the vice president now directly owns 46,936 shares in the company, valued at $3,133,916.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Daveen Chopra sold 1,250 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total transaction of $87,437.50. Following the transaction, the vice president now owns 29,333 shares of the company’s stock, valued at approximately $2,051,843.35. The disclosure for this sale can be found here. Insiders have sold 16,250 shares of company stock worth $1,218,138 over the last three months. Company insiders own 1.29% of the company’s stock.

Wall Street Analysts Forecast Growth

EW has been the subject of a number of analyst reports. Barclays decreased their price objective on shares of Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday, September 9th. JPMorgan Chase & Co. downgraded Edwards Lifesciences from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $105.00 to $72.00 in a research note on Thursday, July 25th. Piper Sandler dropped their price target on shares of Edwards Lifesciences from $88.00 to $73.00 and set a “neutral” rating on the stock in a research note on Thursday, July 25th. Evercore ISI reduced their price objective on shares of Edwards Lifesciences from $91.00 to $76.00 and set an “in-line” rating for the company in a research report on Thursday, July 25th. Finally, Citigroup increased their price objective on shares of Edwards Lifesciences from $105.00 to $106.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Fifteen research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $80.29.

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.