Montag & Caldwell LLC Sells 46,850 Shares of Edwards Lifesciences Co. (NYSE:EW)

Montag & Caldwell LLC lessened its stake in Edwards Lifesciences Co. (NYSE:EW) by 20.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 184,550 shares of the medical research company’s stock after selling 46,850 shares during the period. Edwards Lifesciences accounts for approximately 3.4% of Montag & Caldwell LLC’s portfolio, making the stock its 9th largest position. Montag & Caldwell LLC’s holdings in Edwards Lifesciences were worth $17,047,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in shares of Edwards Lifesciences by 18.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,399,329 shares of the medical research company’s stock valued at $129,271,000 after acquiring an additional 219,486 shares during the period. Waycross Partners LLC boosted its stake in Edwards Lifesciences by 24.0% during the 2nd quarter. Waycross Partners LLC now owns 166,766 shares of the medical research company’s stock worth $15,404,000 after purchasing an additional 32,296 shares during the period. Angeles Investment Advisors LLC boosted its stake in Edwards Lifesciences by 8.6% during the 2nd quarter. Angeles Investment Advisors LLC now owns 4,739 shares of the medical research company’s stock worth $438,000 after purchasing an additional 376 shares during the period. Marble Harbor Investment Counsel LLC grew its position in Edwards Lifesciences by 0.4% during the 2nd quarter. Marble Harbor Investment Counsel LLC now owns 73,600 shares of the medical research company’s stock worth $6,798,000 after purchasing an additional 260 shares during the last quarter. Finally, Rathbones Group PLC increased its stake in Edwards Lifesciences by 3.6% in the second quarter. Rathbones Group PLC now owns 920,928 shares of the medical research company’s stock valued at $85,066,000 after purchasing an additional 32,422 shares during the period. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on EW shares. Robert W. Baird lowered Edwards Lifesciences from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $102.00 to $70.00 in a report on Thursday, July 25th. Oppenheimer reissued an “outperform” rating and issued a $90.00 target price on shares of Edwards Lifesciences in a report on Thursday. Royal Bank of Canada lowered their price objective on shares of Edwards Lifesciences from $101.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. The Goldman Sachs Group reduced their target price on shares of Edwards Lifesciences from $107.00 to $91.00 and set a “buy” rating for the company in a research note on Friday, July 26th. Finally, Piper Sandler lowered their target price on shares of Edwards Lifesciences from $88.00 to $73.00 and set a “neutral” rating on the stock in a report on Thursday, July 25th. Fifteen equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $80.29.

Edwards Lifesciences Price Performance

NYSE:EW opened at $68.52 on Monday. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $96.12. The firm has a market cap of $41.28 billion, a price-to-earnings ratio of 29.53, a price-to-earnings-growth ratio of 2.85 and a beta of 1.13. The company’s 50-day moving average is $72.39 and its two-hundred day moving average is $83.45. The company has a current ratio of 3.71, a quick ratio of 2.87 and a debt-to-equity ratio of 0.08.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Wednesday, July 24th. The medical research company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.01. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.65 billion. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.66 earnings per share. Research analysts expect that Edwards Lifesciences Co. will post 2.7 EPS for the current year.

Insider Activity

In other Edwards Lifesciences news, VP Daveen Chopra sold 1,250 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total value of $87,437.50. Following the sale, the vice president now directly owns 29,333 shares of the company’s stock, valued at approximately $2,051,843.35. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $66.77, for a total value of $333,850.00. Following the completion of the sale, the vice president now directly owns 46,936 shares in the company, valued at approximately $3,133,916.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Daveen Chopra sold 1,250 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total value of $87,437.50. Following the transaction, the vice president now owns 29,333 shares in the company, valued at approximately $2,051,843.35. The disclosure for this sale can be found here. Insiders sold a total of 16,250 shares of company stock valued at $1,218,138 over the last quarter. Company insiders own 1.29% of the company’s stock.

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.