New York State Teachers Retirement System Trims Stock Holdings in Edwards Lifesciences Co. (NYSE:EW)

New York State Teachers Retirement System reduced its stake in Edwards Lifesciences Co. (NYSE:EW) by 8.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 482,645 shares of the medical research company’s stock after selling 42,203 shares during the quarter. New York State Teachers Retirement System’s holdings in Edwards Lifesciences were worth $35,730,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Edwards Lifesciences in the fourth quarter valued at $30,000. FSA Wealth Management LLC purchased a new stake in shares of Edwards Lifesciences in the third quarter valued at $30,000. Prospera Private Wealth LLC purchased a new stake in shares of Edwards Lifesciences in the third quarter valued at $32,000. Avior Wealth Management LLC lifted its position in shares of Edwards Lifesciences by 138.7% in the third quarter. Avior Wealth Management LLC now owns 530 shares of the medical research company’s stock valued at $35,000 after acquiring an additional 308 shares in the last quarter. Finally, Roble Belko & Company Inc purchased a new stake in shares of Edwards Lifesciences in the fourth quarter valued at $46,000. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Scott B. Ullem sold 11,250 shares of Edwards Lifesciences stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $75.76, for a total transaction of $852,300.00. Following the transaction, the chief financial officer now directly owns 30,561 shares in the company, valued at approximately $2,315,301.36. This trade represents a 26.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven R. Loranger sold 5,739 shares of Edwards Lifesciences stock in a transaction on Friday, February 14th. The shares were sold at an average price of $76.42, for a total value of $438,574.38. Following the transaction, the director now owns 60,372 shares in the company, valued at approximately $4,613,628.24. This trade represents a 8.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,489 shares of company stock valued at $2,002,829 in the last quarter. Insiders own 1.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Piper Sandler upped their price objective on Edwards Lifesciences from $70.00 to $73.00 and gave the company a “neutral” rating in a research report on Wednesday. Barclays upped their target price on Edwards Lifesciences from $88.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday. Morgan Stanley upped their target price on Edwards Lifesciences from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday. Wolfe Research lowered Edwards Lifesciences from a “hold” rating to a “strong sell” rating in a research note on Wednesday. Finally, Robert W. Baird dropped their target price on Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $79.95.

Edwards Lifesciences Price Performance

Shares of NYSE EW opened at $76.23 on Friday. The company has a market capitalization of $44.96 billion, a price-to-earnings ratio of 11.00, a PEG ratio of 3.64 and a beta of 1.10. Edwards Lifesciences Co. has a 1-year low of $58.93 and a 1-year high of $96.12. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89. The business has a 50-day moving average of $72.58 and a 200-day moving average of $69.41.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Tuesday, February 11th. The medical research company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. On average, equities analysts anticipate that Edwards Lifesciences Co. will post 2.56 EPS for the current fiscal year.

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.