Canopy Partners LLC Sells 176 Shares of Edwards Lifesciences Co. (NYSE:EW)

Canopy Partners LLC lowered its stake in Edwards Lifesciences Co. (NYSE:EW) by 2.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 7,476 shares of the medical research company’s stock after selling 176 shares during the quarter. Canopy Partners LLC’s holdings in Edwards Lifesciences were worth $553,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Crowley Wealth Management Inc. acquired a new stake in shares of Edwards Lifesciences in the 4th quarter valued at $26,000. Millstone Evans Group LLC bought a new position in Edwards Lifesciences in the fourth quarter valued at about $29,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Edwards Lifesciences in the fourth quarter worth about $30,000. Roble Belko & Company Inc bought a new stake in Edwards Lifesciences during the 4th quarter worth about $46,000. Finally, Catalyst Capital Advisors LLC acquired a new position in Edwards Lifesciences during the 4th quarter valued at about $54,000. Institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Stock Performance

EW opened at $69.39 on Monday. The business’s 50-day simple moving average is $71.74 and its 200 day simple moving average is $70.66. Edwards Lifesciences Co. has a 52-week low of $58.93 and a 52-week high of $95.25. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46. The firm has a market capitalization of $40.79 billion, a PE ratio of 9.95, a PEG ratio of 4.82 and a beta of 1.15.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Tuesday, February 11th. The medical research company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.55 by $0.04. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. As a group, sell-side analysts expect that Edwards Lifesciences Co. will post 2.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on EW shares. Royal Bank of Canada reiterated an “outperform” rating and set a $85.00 price target on shares of Edwards Lifesciences in a research report on Wednesday, February 12th. Bank of America upgraded Edwards Lifesciences from a “neutral” rating to a “buy” rating and raised their price target for the stock from $82.00 to $90.00 in a research report on Monday, December 16th. Stifel Nicolaus upgraded Edwards Lifesciences from a “hold” rating to a “buy” rating and raised their target price for the stock from $75.00 to $90.00 in a report on Thursday, January 30th. Morgan Stanley increased their price target on shares of Edwards Lifesciences from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 12th. Finally, Evercore ISI lowered their target price on shares of Edwards Lifesciences from $75.00 to $73.00 and set an “in-line” rating for the company in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $79.95.

Insider Activity

In other news, VP Daniel J. Lippis sold 500 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $68.76, for a total value of $34,380.00. Following the transaction, the vice president now directly owns 23,189 shares of the company’s stock, valued at $1,594,475.64. This represents a 2.11 % decrease in their ownership of the stock. 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 the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $76.42, for a total transaction of $438,574.38. Following the completion of the transaction, the director now directly owns 60,372 shares in the company, valued at approximately $4,613,628.24. This represents a 8.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 62,553 shares of company stock valued at $4,513,064. 1.29% of the stock is owned by company insiders.

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.