Kirtland Hills Capital Management LLC Decreases Stake in Edwards Lifesciences Co. (NYSE:EW)

Kirtland Hills Capital Management LLC cut its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 20.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,128 shares of the medical research company’s stock after selling 1,346 shares during the quarter. Kirtland Hills Capital Management LLC’s holdings in Edwards Lifesciences were worth $338,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in EW. Price T Rowe Associates Inc. MD raised its position in 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 buying an additional 2,390,137 shares during the last quarter. Swedbank AB purchased a new position in shares of Edwards Lifesciences during the first quarter worth $124,511,000. Bank of New York Mellon Corp lifted its position in Edwards Lifesciences by 4.3% during the second quarter. Bank of New York Mellon Corp now owns 19,782,909 shares of the medical research company’s stock valued at $1,827,347,000 after purchasing an additional 809,605 shares during the period. AustralianSuper Pty Ltd boosted its holdings in Edwards Lifesciences by 17.8% in the third quarter. AustralianSuper Pty Ltd now owns 3,273,416 shares of the medical research company’s stock valued at $216,013,000 after purchasing an additional 494,604 shares during the last quarter. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund boosted its holdings in Edwards Lifesciences by 422.3% in the third quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 450,233 shares of the medical research company’s stock valued at $29,711,000 after purchasing an additional 364,030 shares during the last quarter. 79.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Evercore ISI decreased their price objective on Edwards Lifesciences from $76.00 to $70.00 and set an “in-line” rating for the company in a report on Tuesday, October 1st. Oppenheimer reissued an “outperform” rating and issued a $90.00 price target on shares of Edwards Lifesciences in a research note on Thursday, September 12th. Stifel Nicolaus reduced their price objective on shares of Edwards Lifesciences from $85.00 to $70.00 and set a “hold” rating for the company in a research report on Thursday, July 25th. Wolfe Research upgraded shares of Edwards Lifesciences from an “underperform” rating to a “peer perform” rating in a research report on Monday, July 29th. Finally, Citigroup decreased their price target on shares of Edwards Lifesciences from $83.00 to $77.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. Seventeen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Edwards Lifesciences presently has an average rating of “Hold” and a consensus target price of $75.67.

Insider Activity at Edwards Lifesciences

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $69.51, for a total value of $347,550.00. Following the sale, the vice president now owns 46,936 shares of the company’s stock, valued at $3,262,521.36. This trade represents a 9.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Larry L. Wood sold 25,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $65.91, for a total transaction of $1,647,750.00. Following the completion of the sale, the insider now directly owns 198,526 shares in the company, valued at approximately $13,084,848.66. This represents a 11.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,000 shares of company stock worth $2,657,000. 1.27% of the stock is currently owned by company insiders.

Edwards Lifesciences Price Performance

NYSE:EW opened at $70.20 on Wednesday. The company has a market capitalization of $41.40 billion, a P/E ratio of 10.13, a P/E/G ratio of 3.81 and a beta of 1.12. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06. Edwards Lifesciences Co. has a 52 week low of $58.93 and a 52 week high of $96.12. The stock’s fifty day moving average is $67.59 and its two-hundred day moving average is $75.91.

Edwards Lifesciences (NYSE:EW) last announced its earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share for the quarter, hitting the consensus estimate of $0.67. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same quarter last year, the firm posted $0.59 earnings per share. Edwards Lifesciences’s revenue was up 8.9% compared to the same quarter last year. Equities analysts expect that Edwards Lifesciences Co. will post 2.57 EPS for the current 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.