Edwards Lifesciences Co. (NYSE:EW) Shares Sold by Bridgewater Associates LP

Bridgewater Associates LP cut its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 68.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 165,451 shares of the medical research company’s stock after selling 354,361 shares during the quarter. Bridgewater Associates LP’s holdings in Edwards Lifesciences were worth $10,918,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EW. First Community Trust NA purchased a new position in Edwards Lifesciences during the 2nd quarter worth $29,000. Prospera Private Wealth LLC acquired a new position in shares of Edwards Lifesciences during the third quarter worth about $32,000. Avior Wealth Management LLC raised its holdings in Edwards Lifesciences by 138.7% during the third quarter. Avior Wealth Management LLC now owns 530 shares of the medical research company’s stock worth $35,000 after purchasing an additional 308 shares in the last quarter. Webster Bank N. A. acquired a new stake in Edwards Lifesciences in the second quarter valued at about $39,000. Finally, Peoples Bank KS purchased a new stake in Edwards Lifesciences in the 3rd quarter valued at approximately $40,000. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Edwards Lifesciences news, insider Larry L. Wood sold 25,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was 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 $13,084,848.66. This represents a 11.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $65.57, for a total value of $327,850.00. Following the completion of the transaction, the vice president now owns 46,936 shares in the company, valued at approximately $3,077,593.52. This trade represents a 9.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,000 shares of company stock valued at $2,657,000. Insiders own 1.27% of the company’s stock.

Edwards Lifesciences Trading Up 0.7 %

Shares of EW opened at $72.07 on Friday. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $96.12. The stock has a fifty day moving average of $68.01 and a two-hundred day moving average of $75.32. 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 company has a market capitalization of $42.51 billion, a PE ratio of 10.40, a price-to-earnings-growth ratio of 4.01 and a beta of 1.12.

Edwards Lifesciences (NYSE:EW) last released 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. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.57 billion. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.59 earnings per share. As a group, analysts forecast that Edwards Lifesciences Co. will post 2.57 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group downgraded Edwards Lifesciences from a “buy” rating to a “hold” rating and cut their target price for the stock from $85.00 to $70.00 in a research note on Wednesday, September 18th. UBS Group reduced their target price on Edwards Lifesciences from $90.00 to $75.00 and set a “neutral” rating for the company in a report on Tuesday, September 10th. Piper Sandler decreased their price objective on shares of Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Oppenheimer reaffirmed an “outperform” rating and issued a $90.00 target price on shares of Edwards Lifesciences in a report on Thursday, September 12th. Finally, Royal Bank of Canada upped their price target on Edwards Lifesciences from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday. Seventeen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Edwards Lifesciences currently has an average rating of “Hold” and an average price target of $76.85.

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.