Meyer Handelman Co. Cuts Stake in Edwards Lifesciences Co. (NYSE:EW)

Meyer Handelman Co. trimmed its stake in Edwards Lifesciences Co. (NYSE:EW) by 11.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 34,608 shares of the medical research company’s stock after selling 4,500 shares during the quarter. Meyer Handelman Co.’s holdings in Edwards Lifesciences were worth $2,284,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of EW. Price T Rowe Associates Inc. MD grew its holdings in shares of Edwards Lifesciences by 57.9% during the 1st 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 purchasing an additional 2,390,137 shares during the period. CCLA Investment Management increased its position in shares of Edwards Lifesciences by 100,739.7% in the first quarter. CCLA Investment Management now owns 1,406,714 shares of the medical research company’s stock worth $134,092,000 after acquiring an additional 1,405,319 shares in the last quarter. Swedbank AB purchased a new position in shares of Edwards Lifesciences in the 1st quarter valued at $124,511,000. Sei Investments Co. boosted its position in Edwards Lifesciences by 162.7% during the 1st quarter. Sei Investments Co. now owns 1,465,719 shares of the medical research company’s stock worth $140,064,000 after purchasing an additional 907,688 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Edwards Lifesciences by 4.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 19,782,909 shares of the medical research company’s stock worth $1,827,347,000 after purchasing an additional 809,605 shares during the period. Institutional investors and hedge funds own 79.46% of the company’s stock.

Insider Buying and Selling at Edwards Lifesciences

In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $66.08, for a total transaction of $330,400.00. Following the transaction, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,101,530.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total value of $330,400.00. Following the completion of the transaction, the vice president now directly owns 46,936 shares in the company, valued at $3,101,530.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Daveen Chopra sold 1,250 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total value of $87,437.50. Following the completion of the sale, the vice president now owns 29,333 shares of the company’s stock, valued at $2,051,843.35. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,250 shares of company stock valued at $751,688 in the last quarter. Corporate insiders own 1.29% of the company’s stock.

Edwards Lifesciences Price Performance

Shares of EW opened at $68.13 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.71 and a quick ratio of 2.87. The company has a market cap of $41.06 billion, a P/E ratio of 29.37, a PEG ratio of 2.83 and a beta of 1.13. Edwards Lifesciences Co. has a 12 month low of $58.93 and a 12 month high of $96.12. The stock has a fifty day moving average price of $67.13 and a 200 day moving average price of $80.08.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings data on Wednesday, July 24th. The medical research company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period last year, the firm posted $0.66 EPS. Edwards Lifesciences’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, research analysts forecast that Edwards Lifesciences Co. will post 2.71 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Barclays decreased their target price 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. StockNews.com cut shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Jefferies Financial Group downgraded shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and dropped their price target for the stock from $85.00 to $70.00 in a research note on Wednesday, September 18th. UBS Group decreased their price objective on shares of Edwards Lifesciences from $90.00 to $75.00 and set a “neutral” rating for the company in a research report on Tuesday, September 10th. Finally, Stifel Nicolaus dropped their target price on Edwards Lifesciences from $85.00 to $70.00 and set a “hold” rating on the stock in a research report on Thursday, July 25th. Seventeen research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $75.77.

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.